The South Australian Government has finalised a $1.6 billion deal to privatise the state's Lands Titles Office.

A commercial consortium known as Land Services SA has won the right to manage the state's system of land titles and registry for the next 40 years - including the right to commercialise related data, subject to government approval.

The Lands Titles Office holds the registry of the state's property titles, including information about who owns property, when it was purchased and its valuation.

Land Services SA is comprised of two investors - Macquarie Infrastructure and Real Assets, and the Public Sector Pension Investment Board.

South Australia is the second state to privatise the functions of its Land Titles Office, following New South Wales, which in April reached a $2.6 billion deal with a consortium made up of First State Super, investment funds from Hastings Funds Management and the Royal Bank of Scotland Group's pension fund.

Critics of the privatisation have previously raised concerns about its privacy implications, and the Public Service Association has warned it could threaten the state's Torrens Title system.

SA Treasurer Tom Koutsantonis said, under the deal, the Government would continue to set fees and charges for title searches and other land services.

He said the general public would not notice any difference to the service following the transfer.

"Land Services SA submitted a binding bid that compares favourably with other land registry transactions, including the recent commercialisation in New South Wales," Mr Koutsantonis told Parliament.

The Treasurer conceded the new operators of the Lands Titles Office would require fewer staff than currently employed, but is expected to make offers of employment to about 70 workers currently performing transactional land services.

He said a further 60 staff would likely be employed in the transition process, while a further 30 would be retained elsewhere in the public service.

Mr Koutsantonis said he expected no forced redundancies.

He said Land Services SA had agreed to establish an "innovation hub" in Adelaide and would make a $35 million ICT investment in South Australia.

Treasurer uses privatisation deal to lash banks

The Government will continue to set fees and charges for title searches and other land services. ( ABC News: Tom Fedorowytsch )

The Treasurer used the privatisation announcement to disparage the banking industry, which has run a high-profile advertising campaign against the State Government's proposed Major Bank Levy.

The banks have argued the introduction of the levy would deter investment in South Australia.

"This deal involves debt funding from three of the five major banks which are subject to the South Australian Major Bank Levy," Mr Koutsantonis told Parliament.

"Acts speak louder than advertisements, Mr Speaker, especially those advertisements by the Australian Bankers Association which seek to disparage this state.

"Not only are banks willing to invest in South Australia but they are actually doing so."