The Lagos State government has hinted that the process of digitizing all land documents in the state is currently underway.
The state government noted that when completed, information on government portals related to property and land in Lagos can be accessed by individuals interested in property acquisition or real estate transactions from anywhere in the world.
This disclosure was made by the Special Advisor to the Governor of Lagos State on Electronic Geographic Information System (E-GIS) and Physical Planning, Dr. Olajide Babatunde, during a panel discussion on Technology Implementation for Transparency and Lagos Real Estate Market Growth in just concluded the Third Lagos Real Estate Market Conference and Exhibition held in Victoria Island on Tuesday.
Babatunde said that transactions in the real estate sector require transparency so that an effective and sustainable platform can be created for local and foreign investors to actively participate in the sector.
Digitized terrestrial system to improve efficiency
Speaking on the occasion, the Permanent Secretary, Land Office, Lagos State, Mr. Olabode Agoro, said that the registration of individuals and organizations by the Lagos State Real Estate Regulatory Authority (LASRERA) is to ensure that only qualified and certified professionals are allowed. to practice in the real estate sector of the State.
The news continues after this announcement.
He explained that E-GIS is an advanced database system that distributes information through a network of systems, adding that the digitization system will capture accurate data for greater efficiency.
Panel moderator, President and Founder of the Nigerian Proptech Association, Dr. Roland Igbinoba, commented that GIS is critical to development and transparency in the real estate sector.
- Recall that in December 2020, Lagos State Governor Babajide Sanwo-Olu said that all land-related transactions in the state will be done online from the first quarter of 2021.
- Sanwo-Olu said the plan is to further speed up the process of obtaining approvals in land matters and create a business-driven durable real estate development market in the state.
- The Governor said that the State Land Department had built the necessary capacity for a smooth transition to the online platform, stressing that the plan was already in its final stage.