The provision of modern housing schemes and the transformation of the slums and ghettos in Lagos dates back to 1928 when the Lagos Executive Development Board (L.E.D.B.) was inaugurated. Amongst other things, the L.E.D.B. was charged primarily with the task of getting rid of the filth and unhealthy living conditions which existed then in Lagos. The Board was also to transform the slum areas and ghettos into a planned and habitable environment.
Although, the Board was the sole executive authority for planning and development both in central Lagos and its environs, the maintenance of its constructed roads, drains and open spaces was the responsibility of the Lagos City Council. The vetting of building plans was also shared with the City Council, an awkward arrangement which often resulted in the delay of approval of building plans. The attendant frustration of private developers often times led to contravention of planning regulations by developers.
However, subsequent expansion of the city necessitated the involvement of the Ikeja Area Planning Authority (I.A.P.A) in the control of development and provision of public housing outside the city. The (I.A.P.A) on one hand had full powers to vet building plans and control private development in its area of jurisdiction but such plans had to be forwarded to relevant local council for health approval. With the creation of Lagos State in 1967, the need to stem the lack of proper coordination between the existing planning authorities involved and the unnecessary dissipation of energy without meaningful results necessitated the formation of a central body to be charged with the duties of the different bodies. Consequently, in 1972, the Lagos Executive Development Board (L.E.D.B.), Ikeja Area Planning Authority (I.A.P.A.), and Epe Town Planning Authority (E.T.P.A.), metamorphosed into what is now known as Lagos State Development and Property Corporation (L.S.D.P.C). The L.S.D.P.C. Edict No. 1 of 1972 bestowed legality on this metamorphosis.
Upon its creation in 1972, L.S.D.P.C. which inherited the liabilities and assets of its three predecessors was completely divested of all their development control powers. These were transferred to the Lagos state Ministry of Works and Planning (L.S.M.W.P.), which became responsible for planning and development control throughout the State. But after much persuasion, the power to control development on its estates was transferred back to L.S.D.P.C. in 1978.
Under the present arrangement; the Corporation has a fully commercialized status with a Managing Director/Chief Executive Officer at the helm of affairs. The functions of the new L.S.D.P.C, amongst others, include:
1. To develop land or any estate or interest in land
2. To acquire, develop and maintain dwelling houses, shopping centers, offices, industrial buildings that are necessary, or desirable for the performance of the functions of the Corporation
3. To acquire, develop, maintain or repair any work plant or apparatus necessary or desirable for the provision of electrical, water, or sanitary services or in connection with any building owned, developed or managed by the Corporation
4. To sell, let or lease any building owned developed or presently managed by the corporation by virtue of this law upon such terms and conditions as the corporation deem fit.
The current legal instrument governing the operations of the Corporation is the laws of Lagos State 2003 Cap L19 as amended by the Lagos State Development and Property Corporation (Amendment) Law 2006
The enabling edict of the Corporation has already set out its functions as that of providing housing for both residential as well as business/commercial purposes and also maintaining same.