No fewer than 1,577 petitions regarding real estate fraud from 2020 till date were received by the Lagos State Real Estate Regulatory Authority.
According to The PUNCH, the Special Adviser to Lagos State Governor on Housing, Barakat Odunuga-Bakare disclosed this during a press briefing in Alausa, Ikeja.
“We have received well over 1,577 petitions from the inception of the agency in 2020 till date, we have been able to resolve 1,027, and we have eight cases in court concerning real estate fraud,” she said.
“She lamented that the sector is polluted with both good and bad developers, adding that she has been calling on brokers, developers, agents, and realtors to come and register to sanitise the real estate sector.
The bad ones do not make you see the good ones as doing anything. An association still came to my office yesterday, they noted they had about 4,000 people practising real estate as part of their organisation, on asking them how many were registered practitioners, they could not answer.
“I would like to plead if you have issues of agents or developers defrauding potential homeowners, a petition can be written to LASRERA, and I can assure you that a redress would be received within a short period.
“Also, the Attorney General has stated that anything about real estate would get a special court form which makes it faster and ensures that cases do not last more than 90 days, and a maximum of 24 months in court, and then the victims get judgment,” she added.
