The Lagos State government has promised to digitize all land related transactions with effect from 2021 and pave way for an enduring business-driven property development market.
Governor Babajide Sanwo-Olu disclosed this yesterday while addressing property investors at the maiden Real Estate Marketplace Conference and Exhibitions organised by Lagos State Real Estate Regulatory Authority (LASRERA), with the theme: “Unearthing real opportunities in Real Estate” at Eko Hotel and Suites, Victoria Island,Lagos.
According to the governor, if the processes of land related issues including the issuance of Certificate of Occupancy,( C of O) ,building plans are digitized and made accessible online, investors would have better atmosphere to thrive.
He told participants that the Department of Lands at the Lands Bureau had concluded plans for migration from its present mode of operations to online and digital platform.
Besides, he assured that when the web-based platform is finally launched, there will be no need for applicants seeking Certificates of Occupancy (C of O), survey and building plan approvals to physically submit paper documents for authorisation.
He added that documentation would become easier as the processes will be done without an interface with the office.
He added that the new development would bring about quick turnaround time in land transactions and boost private investors’ confidence in provision of home ownership model that will address deficits in housing.
He further stressed: “We have given our commitment on this, because of the need to improve the turnaround time from when people submit their requests for approval and the time the authorisation is completed. We cannot afford to disappoint private investors and applicants seeking real time approval. We are raising our capacity, so that we can respond to the requests and discharge them.”
The governor cautioned against
sharp practices in the processing and issuance of necessary building documents.
Mrs. Toke Benson-Awoyinka,
Special Adviser on Housing, said the conference was hosted with an objective to bring stakeholders in the property business in contact with relevant government agencies and address bottlenecks slowing down property transactions.