Lagos pledges friendly policies, plans enforcement against fraudulent agents

The Lagos State Government has expressed its readiness to step up enforcement and put in place policies that will support real estate practice in the state.

The Special Adviser to the State Governor on Housing, Barakat Odunuga-Bakare, gave the assurance during stakeholders’ engagement/interactive session organised by the Lagos State Real Estate Regulatory Authority, (LASRERA) with stakeholders in the built sector.

Odunuga-Bakare explained that it is through collaboration that the state government can guarantee the regulatory landscape that is not just a set of rules, but a dynamic force that nurtures responsible growth and development in the industry.

She also vowed to scale up its enforcement drive against sharp practices in the real estate sector, maintaining that 2024 will no longer be business as usual for perpetrators of fraudulent acts and unregistered practitioners.

Odunuga-Bakare said the state government is digitalising the land registration processes to reduce bottlenecks surrounding land administration. “The state government was working towards digitalising the process to fast-track transactions in the industry,” she noted

“The Tenancy law is in the process of protecting both the sellers and buyers of properties in the state, and we are collaborating with the Ministry of Justice in addressing issues and challenges raised by some practitioners.” Odunuga-Bakare said

Responding to some of the questions by the operators, the Permanent Secretary, Lagos State Lands Bureau, Mr. Kamal Olowosago, urged stakeholders to always conduct a proper search before any transactions.

He said the government is digitalising the land registration processes to reduce bottlenecks surrounding land administration and curb issues of land grabbing.Olowosago also promised to revisit cases of forceful takeover of some lands and property from developers, especially in the Lekki area of the state.

Earlier, Chairman, Real Estate Developers Association of Nigeria, (REDAN), Lagos State Chapter, Dr. Bamidele Onalaja, noted that the real estate industry plays a pivotal role in shaping the landscape of Lagos, hence the need to collaboratively explore innovative solutions that will drive the sustainable growth of the sector in Lagos.

He said REDAN is working with the government to curb recurring building collapse in the state, urging developers to obtain necessary documents before they set out to build.

Leading the stakeholders in discussion at the forum, the Chairman, MKH Group, Mr. Muibi Hammed, said that the state government must adhere strictly to enforcement in the industry. On her part, the Managing Director, Hafsam Properties, Hafsat Balogun, lamented the increase in overnight agents infiltrating into the industry.