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LASRERA
The Lagos State Government has declared that it is now illegal to engage in real estate practice within the state without registration with the Lagos State Real Estate Regulatory Authority (LASRERA).
The Lagos State Real Estate Regulatory Agency (LASRERA) said it has recovered N478.13 million and 18 properties from fraudulent real estate practitioners, returning them to their rightful owners over the past four years.
Lagos State Govt collaborated with EFCC through its real estate regulatory body to combat fraudulent activities in the real estate sector.
The Lagos State Real Estate Regulatory Authority (LASRERA) has asked for the support of all practicing realtors to complement the state government’s efforts to improve the integrity of real estate development for the future of Lagos State, Nigeria, and potential investors/investees.
The exercise is in line with the authority’s mandate to regulate, sanitize and effectively monitor as well as eliminate fraudulent practices in the real estate sector.
The Lagos State Government has urged Lagosians to support its efforts to eliminate fraudulent practices in the real estate industry.
Governor Sanwo-Olu has stated that from next year, all land-related transactions in Lagos State will be undertaken online,
The move became necessary to capture and update a unified central database of real estate practitioners.