The Special Adviser to Mr. Governor on Housing, Barr. Barakat Odunuga-Bakare has emphasised the significance of robust real estate regulations in the State, expressing optimism that the Greater Lagos Rising mantra of Governor Babajide Sanwo-Olu is achievable through collaborative efforts and adherence to regulatory standards.<\/p>\n
She stated this while delivering her keynote address at the Real Estate Outlook 2024 event organised by the Nigerian-British Chamber of Commerce (NBCC), themed \u201cLooking Ahead, Gauging Opportunities\u201d, aimed at providing a platform for stakeholders to explore prospects in the real estate sector held on Monday via Zoom.<\/p>\n
While emphasising the pivotal role of regulatory measures in fostering a conducive environment for real estate development in Lagos State, the Special Adviser stated that Real Estate regulation must be transparent to achieve sustainable growth within the real estate industry.<\/p>\n
Underlining the commitment of the Lagos State Government to prioritise the housing sector as part of its agenda to propel the state into a 21st-century economy, Odunuga-Bakare highlighted the implementation of the Affordable Home Ownership Scheme, underscoring the importance of real estate regulation within the sector.<\/p>\n
In her presentation, she informed the gathering about the establishment of the Lagos State Real Estate Regulatory Authority (LASRERA), a regulatory agency tasked with overseeing the activities of individuals and organisations operating in the real estate sector.<\/p>\n
Odunuga-Bakare outlined LASRERA\u2019s mandate, which includes issuing and renewing permit licences, investigating complaints, eliminating unethical practices, and conducting training for industry professionals.<\/p>\n
She lauded the collaborative efforts between LASRERA and federal enforcement agencies, stressing the imperative of restoring confidence and trust among local and international investors by combating fraudulent practices effectively.<\/p>\n
Furthermore, she stressed the importance of ensuring that only qualified professionals operate within the industry to safeguard the interests of buyers and investors.<\/p>\n
Odunuga-Bakare, therefore, called for the cooperation of all stakeholders in registering with LASRERA to combat fraudulent practices effectively.<\/p>\n
She urged real estate practitioners to comply with the provisions of the State Real Estate Law and advised investors to verify LASRERA permits before engaging in property transactions.<\/p>\n
The Special Adviser on Housing emphasised the need to sanitise the sector to encourage partnership with the private sector to boost confidence in investors.<\/p>\n
Adeoti Sobowale
\nDeputy Director Public Affairs.
\nLASRERA
\n13th February, 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"
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