The Lagos State Government has reiterated its commitment to reform the Real Estate Transaction Business in the State through the Lagos Estate Management Information System (LAGEMIS).
The Commissioner for Housing, Prince Gbolahan Lawal, who stated this recently in an interview with news correspondents, said the Agency will soon adopt an IT based innovation that is a one-stop solution to the myriad of challenges associated with the enforcement and management of the Lagos State Tenancy Law.
According to him, “At the core of the new system is the accumulation and management of valuable data relating to Real Estate Transaction. This is geared towards LAGEMIS transaction reforms which include a complete overhaul of its present operation, system information management, record keeping and retrieval to improve its productivity and consequently its revenue generation base.”
Lawal explained that the State government is to create a secure web based centralised data of all estate transactions in the State, ensure codification of all government owned estates as well as the automation of the application for allotment, approval and payment.
While noting that these will enhance government ability to mine data for key developmental projects, Lawal maintained that the automation process will also be used to generate codification of all properties in the State as well as create ability to identify dubious estate agents and defaulting tenants.
The Commissioner emphasised that the new system will not only consolidate the position of Lagos as an investment destination through the creation of sustainable climate for ease of doing business in the real estate value chain, but will help to reduce incidence of fraud and enhance transparency in real estate transactions in the State.
