AGS NEWS – The Lagos State Government has issued a stern advisory to potential real estate investors, urging them to conduct thorough investigations into the registration status of individuals and organizations involved in property dealings.

During the Y2024 Ministerial Press Briefing held in Lagos on Thursday, Barakat Odunuga-Bakare, the Special Adviser to the Lagos State Governor on Housing, stressed the critical importance of verifying credentials via the Lagos State Real Estate Regulatory Authority (LASRERA) portal.

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This counsel arises amidst mounting concerns surrounding unregistered practitioners and fraudulent activities within the real estate domain.

Odunuga-Bakare emphasized the necessity of exercising due diligence, particularly in ongoing construction projects and emerging estate developments.

Highlighting the proactive stance of the Lagos State Government through LASRERA, the governor’s aide underscored the measures in place to shield both local and international investors from potential scams.

Odunuga-Bakare provided insights into LASRERA’s regulatory efficacy, revealing that the agency’s database currently houses records of 925 registered individuals and organizations, with an additional 2550 practitioners in the enrollment process.

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In a cautionary note, Odunuga-Bakare specifically warned against fraudulent real estate agents operating in Ibeju-Lekki and other regions within the state.

She advised utilizing the LASRERA website for transactions to ensure proper monitoring and security.