The Special Adviser to the State Governor on Housing, Mrs. Toke Benson-Awoyinka has advocated for the regulation of activities of service providers in the Real Estate Property Market, stating that it will help build the confidence of residents and by extension prospective investors who want to trade in the real estate market.
Benson-Awoyinka, speaking at a special gathering of top government functionaries including Permanent Secretaries of Ministries, Departments and Agencies and Chairmen of 57 Local Government and Local Council Development Areas at Ikeja, noted that the meeting was to intimate attendees on the progress made so far by the recently created Lagos State Real Estate Regulatory Authourity (LASRERA).
She stated that the mandate of the Agency is to register Real Estate Agents and Property Developers, stressing that an estimated 50,000 Real Estate Agents/Property Developers have registered with the Corporate Affairs Commission (CAC) as Real Estate business operators, excluding law firms and others who operate in the sector.
The Special Adviser disclosed that compliance with the directive to register as Real Estate Practitioners/Property Developers would enable the Agency have a database of operators in order to effectively curb all forms of illegal and dubious activities being perpetrated in the industry.
While noting that that the overall idea behind the establishment of the Agency is to conform with the T.H.E.M.E.S Agenda of the present administration, the Governor’s aide added that one of the attendant benefits of the establishment of the Agency is also to improve the policy of Ease of Doing Business.
