The Lagos State Government has hinted that the process of digitizing all land documents in the state is presently ongoing.
The state government noted that when completed, interested persons in property acquisition or real estate transactions can access information on government portals relating to properties and land in Lagos from anywhere in the world.
This was made known by the Special Adviser to the Governor on Electronic Geographic Information System (E-GIS) and Physical Planning, Dr. Olajide Babatunde, during a panel discussion on Deploying Technology for Transparency and Growth of the Lagos Real Estate Market at the just concluded Third Lagos Real Estate Market Place Conference and Exhibitions held at Victoria Island.
Babatunde said that transactions in the real estate sector require transparency such that an effective and sustainable platform can be created for local and foreign investors to actively participate in the sector.
Speaking at the occasion, the Permanent Secretary, Lands Bureau, Lagos State, Mr. Olabode Agoro, said that the registration of individuals and organizations by the Lagos State Real Estate Regulatory Authority (LASRERA) was to make sure that only qualified and certified practitioners were allowed to practice in the State’s real estate sector.
He explained that E-GIS is an advanced database system that distributes information across a network of systems, adding that the digitization system would capture accurate data for efficiency.
The moderator of the panel, President and Founder, Nigerian Proptech Association, Dr. Roland Igbinoba, remarked that GIS was critical for the development and transparency in the real estate sector.
