By, Emmanuel Akintoye

The Lagos State Real Estate Regulatory Authority (LASRERA) has intensified its enforcement drive against fraudulent and unregistered real estate practitioners operating in Lagos State.

In a recent operation, LASRERA sealed the office of an unregistered agent, Demeny Ventures, in the Owutu area of Ikorodu, for allegedly posing as a registered LASRERA agent using a fake registration number.

Speaking on the exercise on Thursday, Special Adviser to the Governor on Housing, Barakat Odunuga-Bakare, said the clampdown is part of the State Government’s ongoing efforts to sanitize the real estate sector, protect residents from fraudulent practices, and restore public confidence in property transactions.

She stressed that only duly registered and certified practitioners by LASRERA are permitted to operate within the State.

LASRERA has strengthened its regulatory mechanisms through enhanced monitoring of real estate transactions, improved registration processes, and prompt investigation of complaints. The Authority has successfully resolved numerous disputes and facilitated the recovery of funds for victims of property-related fraud through mediation and regulatory interventions.

However, residents have been urged to always verify the registration status of estate agents and property developers before entering into any property transaction. Members of the public are encouraged to report suspicious activities to LASRERA for prompt action through dedicated hotlines: 09122000661 / 09122000662.

The Lagos State Government has warned that engaging in real estate practice without registration with LASRERA is illegal and subject to sanctions.

Recall, LASRERA has resolved 1027 out of 1577 petitions received, a demonstration of its commitment to addressing grievances in the real estate sector