Benson, who is also in charge of the Lagos State Real Estate Transaction Department (LASRETRAD), said her office is currently prosecuting a developer who defrauded members of the public in Ketu and Mafoluku areas.
She said government has also seized their properties and her office is working on how to sell the properties with proceeds from the sale used to settle the defrauded members of the public. She, however, appealed to members of the public to always patronise agents and developers who are registered with her agency.
“We have successfully reviewed The Lagos State Estate Agency Regulatory Law, Cap L28, Laws of Lagos State, 2015 (“Law”) presently in operation in the State, which provides for the establishment of the Lagos State Real Estate Regulatory Authority.
“The essence of this Law is to regulate real estate transactions in Lagos State by identify persons eligible to be licensed as Real Estate Practitioners and provides for the issuance or renewal of annual permits.’’
She pointed out that the authority has the responsibility for maintaining a register of Licensed Real Estate Practitioners and sanctioning of unlicensed Estate Agents in the state.
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