The Lagos State Government has hinted that the process of digitizing all land documents in the state is presently ongoing.
The state government noted that when completed, interested persons in property acquisition or real estate transactions can access information on government portals relating to properties and land in Lagos from anywhere in the world.
This disclosure was made by the Special Adviser to the Lagos State Governor on Electronic Geographic Information System (E-GIS) and Physical Planning, Dr. Olajide Babatunde, during a panel discussion on Deploying Technology for Transparency and Growth of the Lagos Real Estate Market at just concluded Third Lagos Real Estate Market Place Conference and Exhibitions held at Victoria Island on Tuesday.
Babatunde said that transactions in the real estate sector require transparency such that an effective and sustainable platform can be created for local and foreign investors to actively participate in the sector.
Digitized land system to enhance efficiency
Speaking at the occasion, the Permanent Secretary, Lands Bureau, Lagos State, Mr. Olabode Agoro, said that the registration of individuals and organizations by Lagos State Real Estate Regulatory Authority (LASRERA) is to make sure that only qualified and certified practitioners are allowed to practice in the State’s real estate sector.
He explained that E-GIS is an advanced database system that distributes information across a network of systems, adding that the digitization system will capture accurate data for efficiency.
The moderator of the panel, President and Founder, Nigerian Proptech Association, Dr. Roland Igbinoba, remarked that GIS is critical for the development and transparency in the real estate sector.
For catch up
- Recall that in December 2020, the Lagos State Governor, Babajide Sanwo-Olu, said that all land-related transactions in the state will be done online with effect from the first quarter of 2021.
- Sanwo-Olu said that the plan is to further accelerate the process of getting approvals on land matters and create an enduring business-driven property development market in the State.
- The Governor said the State’s Department of Lands had built the required capacity for a smooth transition to the online platform, stressing that the plan was already in its final stage.
