Challenges And Prospect Of Property Re-Development

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A study of road property investment in ilorin revealed a number of constraints which were associated with the regulation of houses that is the restructuring of building. In the area of pre- investment students for property development or redevelopment the anticipated return can only be tested or ascertained with proper understanding analysis and taking into consideration.

TABLE OF CONTENT

Title page

Certification

Dedication

Acknowledgment

Synopsis

Table of content

CHAPTER ONE 

1.0  Introduction

1.1  Statement of the problem

1.2 Aim and objective of the study

1.3 Scope of study

1.4 Significance of study

1.5 Historical background of ilorin

1.6 Definition of terms

CHAPTER TWO

2.0 What is property?

2.1 Types of property

2.2 Building components

2.3 The estate life cycle

2.4 State of an estate cycle

2.5 Literature review/conceptual framework

2.6 Theoretical background of the study

2.7 The concept of development/redevelopment

2.8 Causes of redevelopment

2.9 process of re-development

CHAPTER THREE

3.0 Research methodology

3.1 Target population

3.2 Method of data collection

3.3 Primary source

3.4 Secondary source

3.5 Simple frame

3.6 Sample size

3.7 Sampling techniques

3.8 Data instrument

3.9 Method of analysis

CHAPTER FOUR

4.0 Data presentation and analysis

4.1 The questionnaire administered

4.2 The questionnaire retrieved

4.3 The building re-developed from the study area

4.4  Conditional of building redeveloped

4.5  Population of the study area after redeveloped

CHAPTER FIVE

5.0 Summary, Conclusion and Recommendation

5.1 Summary of finding

5.2 Recommendations

5.3 Conclusion

Bibliography

CHAPTER ONE

1.0 INTRODUCTION

A study of road property investment in ilorin revealed a number of constraints which were associated with the regulation of houses that is the restructuring of building.

In the area of pre- investment students for property development or redevelopment the anticipated return can only be tested or ascertained with proper understanding analysis and taking into consideration.

The factor affecting redevelopment omuojine ( 1993) history has it  that ilorin was founded  orgurally by those who built according to hallet arahan ( 1979) all value in arty hand  under go continue evaluation form a stage of non existence through a circle of change.

In nigeria the law of nigeria (1948) cap 155 defines development or redevelopment as any building operation and any use of land or any building there in for a proposed which is disproved from the proposed which the land for building was last being used.

More ever, british town and country planning act (1947) carrying out building engineer, mining or other operation in an over, under land or the making of any material residential building in the area, which later brought up to a standard of a distinct settlement most of those building built were able to change in their use as a result of the development of the town physically environmentally and economically.

With the federal government pronouncement of ilorin as a capital of kwara state. There arose the need to create a business district and the resultant use for commercial use some are bergs restored to us  formal use due to obsolescence that had set on the building for instance a three (3) bedroom residential could have it use change to an estate surveyors office.

Similar conversion may governor involve tampering with the structure by way of pulling down we all, addition of new accommodation and imploring the physical fabrics of the building.

Also, an obsolete terminates building with eight (5) rooms (i.e. face to face) may be converted to flat or any other type of design.

Although, the redevelopment enhancement aesthetic value of the building and make alternative enough for the type of the use proposed.

More so in some cases, alternation  may have to be done to be both the internal and external part of the building for instance  a converted office accommodation  proposed to house a new bank may give it s approach view redesign and filled with many architectural decoration further more  the  frontal fence may have to be pulled down to aid visibility  and give room for parking lots redevelopment project  cannot be carried out without learning some  task or challenge on the developer and even the property consumer.

In carrying out such project the developers encounter difficulties which stand as obstacle to the successful, efficient and effective development redevelopment project.

The challenge includes government policies building material the real estate finance and others.

1.1   STATEMENT OF THE PROBLEM

As it is not unusual for any dissertation like this to be   constrained due to some reasons. this particular project work. he therefore, not has been an exception. there searcher had been confronted with the inadequate fund to carryout the project work. he had utilized the very limited resource at his disposal to work toward the success of the work.

Insufficient time was another problem. the writer has to distribute the short available time at his disposal to the pursuit of this project work and to other academic pursuits.

During the collection of the data used for this project work, the researcher was faced with the poor response of the few available people or property owners interviewed thinking that the researcher may have be one of the frauds in the town, thus preferred to keep their words to themselves.

Inadequate literatures on  the topic has been of the problem faced as the researcher could  not lay his hand on one quick referencing, thus, making him to rely exclusively on the data gotten from the field.

Another major problem was the unavailability of some property owners for interview by the researcher.

1.2   AIM

To examine the challenges and prospect of within the redevelopment property in the study area

1.2   OBJECTIVE

1. To identify the properties under redevelopment on the case study
2. To know the stage of the properties  under

iii.To examine the prospect of  the  properties redevelopment

iv.To examine the challenge involve in the redevelopment

1.3 SCOPE OF STUDY

The scope of this study is within the mainframe of the factors that affect the redevelopment of building in some eminent places like muritala moh’d way, taiwo road, unit road and lagos road in ilorin.

1.4  SIGNIFICANCE OF STUDY

The study entails some importance which building professional developers and non professionals, but ideal with land and buildings.

This dissertation will be found useful to both private and public property developer. even individuals who wish or intend to developer or develop their obsolete properties (building ) will be exposed to the ways by which these could be carried out financially, physically, politically, and aim of .

in spite of fact that the aim of the study is to analyse the challenges of restructuring of house. the study could so be found useful to the properties investors as the redevelopment of a building improves and increase the aesthetic and rental value of the building respectively. as such more return or yield is realized.

furthermore, in the carrying out of a particular area (i.e. in urban renewal) based on this study will enhancers organization and beautification of the area.

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