LASRERA begins sensitization, compliance exercise

Lagos State Real Estate Regulatory Authority (LASRERA) has extended its enforcement drive to some parts of the State. The move is to ensure that real estate practitioners operating in the State duly register their presence with the Authority.

The enforcement and sensitization exercise which started on Thursday at Ikeja and its environs, is expected to be replicated across other Divisions in the State as part of strategies by LASRERA to raise public awareness about the efforts by the state government to sanitize the sector.

Speaking during the exercise, Special Adviser to the Governor on Housing, Mrs. Toke Benson-Awoyinka noted that it is an offence to practice real estate in any forms, including those displaying ‘To Let, To Lease, For Sale etc’ in their offices or on properties without being duly registered with the Agency.

Benson-Awoyinka, who was represented by the Director, Enforcement Unit of LASRERA,  Mr. Deji Badejo, lamented the practice by unregistered real estate individuals or organisation posting banners on residential and commercial properties.

According to her, some unsuspecting members of the public have been swindled of their investments or hard earnings by such people.

Benson-Awoyinka also stated that the Agency had earlier written letters to over 1000 real estate individuals/organisations to honour the state government’s call for regularization, while also expanding the market confidence of those in diaspora to invest in the sector.

“Let me state clearly here that following the letters earlier delivered to practitioners across the State, only a few of these practitioners responded to the content of the letters, hence the need to embark on this enforcement and compliance exercise so that relevant stakeholders in the built sector and the general public can attach importance to the call by the Agency to sanitize real estate transactions in the State,” she said.