Showing posts with label Infrastructural Facilities. Show all posts

Thursday 19 May 2022

FACTORS RESPONSIBLE FOR INADEQUATE INFRASTRUCTURAL FACILITIES WITHIN AN ESTATE

FACTORS RESPONSIBLE FOR INADEQUATE INFRASTRUCTURAL FACILITIES WITHIN AN ESTATE

There are many factors that led to the problems of inadequate infrastructural facilities within the estate and some of these are as follows:

1. Inadequate Finance: Sufficient funds are not made available for the provision of the infrastructural facilities. For instance, the provision of good road network, restructuring and replacement of the drainage system were not properly financed by the authority which led to deplorable condition of the facilities within the estate.

2. Lack of Maintenance Culture: The inadequacy of maintenance culture causes the problem of infrastructural facilities within the estate. Some pipes may be laid underground and when such pipe got damaged, it is likely to cause heavy leakage of water and can equally damage the road surface. The need to maintain the infrastructure like this is necessary in order to achieve a favourable improvement within the estate. Any infrastructure that will be put in place in the estate has to be considered alongside with the effective maintenance.

3. Inadequate Security: The inadequate security of the occupants of the estate is insufficiency whereby affecting the effective maintenance of the infrastructural facilities within the estate. For instance, stealing of electrical cables and some other items, contributes to the cause of irregular supply of power to the occupants. Therefore, the idea of more security needs to be adopted and the existing ones reinforced by government.

4. Inadequate/incompetence Manpower: Lack of adequate manpower is also affecting the use of infrastructural facilities. Like some parts of the drainage system which were damaged and the people that are incharged of the repair are not enough to make proper repairs which is likely to result into great problems at the long run.

First the basic problem that has contributed to the inadequate infrastructure facilities within the estate is lack of finance. The government has neglected the proper funding for improvement of the infrastructure facilities that has now made the enjoyment the facilities restrictive within the estate.

Friday 31 December 2021

EFFECT OF INFRASTRUCTURE FACILITIES ON RENTAL VALUE OF RESIDENTIAL PROPERTIES IN IBADAN

ABSTRACT

This study examines the impact of infrastructural facilities on residential property value in Ibadan. The study examined among other things, the provision of infrastructural facilities as an impetus for real Estate development and value in the study area. The study employed the use of structured questionnaire; the data collected were analyzed through simple percentage tables. The study revealed that the residential property in Ibadan has very limited number of these infrastructure facilities. The result of inadequate provision of these facilities has in most cases being reflected in the amount of rent paid for the properties in Ibadan. It is therefore recommended that infrastructures should be provided by both the private and public sectors to better the lot of the residents and to also ensure continuous flow of investors’ income (rent).

CHAPTER ONE

1.0 INTRODUCTIONS

One of the remarkable developments associated with the process of socio- economic change in Nigeria during the last seventeen years has been the damour for increase and improvement of infrastructural facilities. Infrastructural facilities involve the provision of services which the various levels of government in the country as well as various communities are collectively involved. This also includes services provided by voluntary agencies and private individuals for the benefits of the community at large. In the light of the harsh condition Nigeria has been going through recently, sky rocketing cost of building and construction, high cost of finance and unpredictable economic conditions there has been decrease in infrastructure development and little or no maintenance of the existing stock. There has therefore, arisen a need for finding alternative means of infrastructure development as it relates up grading and managing the present. Stock, thus, preserving our built emolument. In line with the basic need of shelter and its preservation, the need to have basic infrastructure in place for the development. Individual who commits capital into real estate as an investment intends to reap optimum returns from such investments. In order to achieve this aim, the investment must be strategically positioned where it has access to basic infrastructure so as to keep this property in a state to command a constant flow of income or benefits and an appreciation in capital value. The majority of investors in residential properties development in Nigeria are individual and a handful of corporate concerns, considering the problem of increasing cost the dilapidated ones still in use, infrastructure is almost static which over stretching of the existing ones continues. The federal government and it agencies like the development control have been doing all they can to improve the present infrastructural facilities stock. But the fact remains that the government does not have enough fund to improve on the entire stock. The study is critically examining the presence state of infrastructural facilities and will also recommended ways to improve these facilities. This is an attempt to increase values to tenants, optimize returns to property owners and presence our build environment. The findings could therefore be applicable to other residential areas presenting problem in Nigeria.

1.1 STATEMENT OF THE PROBLEM

Infrastructure facilities have over the years contributed immensely to the general well being of developed nations. Developing nations have also being able to exploit these facilities though not at a highly appreciative level Nigeria has over the years being grappling with the problem of inadequate infrastructural facilities. Corruption has being the bare of adequate provision of these facilities. Residential properties in Ibadan has very limited number of ‘wit1i these infrastructure facilities. The result of inadequate provision of these facilities has in most cases being reflected in the amount of rent paid for properties in Ibadan Residential properties areas that have of these facilities ar experiencing poor maintenance which affect their longevity the problem is Property owner in Ibadan are often unaware of how infrastructural facilities could to a large extent influence rent paid for there properties. This is evident in the fact that only few of them make effort to either proved these facilities or make effort to ensure that these facilities are provided.

1.2. AIM AND OBJECTIVES OF THE STUDY

The aim of this study is to evaluate the impact of infrastructural facilities on rental values of residential property taking Ibadan as a case study. To achieve this aim the under listed objectives will be pursued.

To identify the infrastructural facilities in the study area.
To analyze the relationship between infrastructural facilities and property value.
To determine the nature and pattern of trends in rental values of residential property in the study area.

1.3. SIGNIFICANCE OF THE STUDY

The research will help people to know about the impact of infrastructural Facilities on rental values of residential property development. The impact of infrastructural facilities plays in the property market and how to achieve feasible rental values or yields in residential properties In the future cannot be over emphasized in this work as it is used by Students and researchers.

1.5 Significance of the Study

This project is an attempt to assess the effect of infrastructural facilities on residential property value in Ibadan, the study discuss the types of residential property in the study area, identifies the types and condition of available infrastructural facilities available and tries to establish the relationship between infrastructural facilities and residential property rental value. The result of research will help developers, investors, real estate managers and valuers and the government to know the relevance of infrastructural facilities to residential properties and its effect on rental value thus given them a better chance to an informed decision.

The study will assist public authorities in putting more efforts in infrastructural investment and as well take full advantage of the income that can be generated from such investment.

This study will also serve as a reference material for subsequent research related to the effect of infrastructural facilities on residential property value where researchers, students and scholars will tap into the wealth of knowledge provided in this study.

1.6 Scope and Limitations of the Study

The research work is confined to the study of the assessment of the effect of infrastructural facilities on residential rental value in Ibadan. It deals with rental value of residential properties such as single room, two bedroom flats and three bedroom flats which are the common types of residential properties found in the study area.

There are several limitation encountered during the conduct of this research. These limitations include: non availability of adequate data which played a major limitation to this write up because of non-cooperative attitude of some respondents who were not willing to give information and data needed to aid findings, time was another major factor which affect the study as the researcher do not have enough time to make detailed investigation on all the aspects of the study. And the general unwillingness of some respondents to fill the questionnaire provided for the research made it difficult to gather data needed for this research study at the most appropriate time.

1.7 Operational Definitions of Terms

Residential Properties: Oxford advanced learners dictionary defined residential properties as properties suitable for living in, consisting of houses rather than factories, or offices.

Property: Property is by property dictionary as anything that is owned by a person or entity, which be divided into “real property” and personal property.

Infrastructure: This is seen as a wide range of economic and social facilities crucial to creating an enabling environment for economic growth and enhances the quality of life, Nubi (2002).

Value: Value is basically the worth of a thing which depend largely on the basis of assessment and unit of measurement.

Property Value: property value according to Millington (1981) is the money obtainable from a person willing and able to purchase property when it is offered for sale by a willing seller, allowing for reasonable time for negotiation and with the full knowledge of the nature and uses which the property is capable of being put.

1.8 BACKGROUND OF THE STUDY

Ibadan is the capital and most populous city of Oyo State, in Nigeria. It is the third-largest city by population in Nigeria after Lagos and Kano, with a total population of 3,649,000 as of 2021, and over 6 million people within its metropolitan area. It is the country’s largest city by geographical area. At the time of Nigeria’s independence in 1960, Ibadan was the largest and most populous city in the country, and the second most populous in Africa behind Cairo.

Ibadan is located in south-western Nigeria, 128 kilometres (80 mi) inland northeast of Lagos and 530 kilometres (330 mi) southwest of Abuja, the federal capital. It is a prominent transit point between the coastal region and areas in the hinterland of the country. Ibadan had been the administrative centre of the old Western Region since the early days of British colonial rule, and parts of the city’s ancient protective walls still stand to this day. The principal inhabitants of the city are the Yoruba people, as well as various communities (notably Igbo, Hausa, and Efik) from other parts of the country.

Ibadan, coined from the phrase “Eba Odan”, which literally means ‘by the edge of the meadow’, came into existence in 1829, during a period of turmoil that characterized Yorubaland at the time. It was in this period that many old Yoruba cities such as old Oyo (Oyo ile), Ijaye and Owu disappeared, and newer ones such as Abeokuta, new Oyo (Oyo atiba) and Ibadan sprang up to replace them.

According to local historians, Lagelu founded the city, and was initially intended to be a war camp for warriors coming from Oyo, Ife and Ijebu.^[7] As a forest site containing several ranges of hills, varying in elevation from 160 to 275 metres, the location of the camp offered strategic defence opportunities. Moreover, its location at the fringe of the forest (from which the city got its name) promoted its emergence as a marketing centre for traders and goods from both the forest and grassland areas.

In Ibadan, unlike other Yoruba cities with traditional kingship institutions, the warrior class became the rulers of the city as well as the most important economic group. Ibadan has a tropical wet and dry climate (Köppen climate classification), with a lengthy wet season and relatively constant temperatures throughout the year. Ibadan’s wet season runs from March through October, though August sees somewhat of a lull in precipitation. This lull divides the wet season into two different wet seasons. November to February forms the city’s dry season, during which Ibadan experiences the typical West African harmattan. The mean total rainfall for Ibadan is approximately 1,230 millimetres or 48 inches, falling over about 123 days. There are two peaks for rainfall, June and September. The mean daily temperature is 26.46 °C or 79.63 °F, the mean minimum 21.42 °C or 70.56 °F, and the relative humidity 74.55%.

Wednesday 22 November 2017

THE ROLE OF INFRASTRUCTURAL FACILITIES ON RESIDENTIAL PROPERTY VALUES IN NIGERIA.

ABSTRACT

Infrastructure play a vital role in the determination of rental values on residential property in the society. It is an embracing concept for the wide range of services offered by the government of any country in order to facilitate healthy living aesthetic. Infrastructural facilities include water supply, electricity, drainage, communication. However all point to the fact that infrastructure is the basis of development of any nation and that its provision in most cases is by the government. Non- existence of these infrastructural facilities will lead therefore lead to isolation of any nation within or without economic stagnancy, retarded national development and most of all, may create problem against the populace.

CHAPTER ONE

1.0 INTRODUCTION

One of the most remarkable improvements associated with the process of socio-economic changes in Nigeria during the last fifty years has been the clamor for the increase in the state of infrastructural facilities.

Infrastructural facilities embraces entirely any services in which the various levels of government in the country as well as various communities are collectively involved in its provision.

This also includes services provided by voluntary agencies and private individuals.

Infrastructure is an embracing concept for the wide range of services offered by the government of any country in order to facilitate health living aesthetic. Infrastructural facilities include; water supply, electricity, transportation, drainage system, communication e.t.c. Non existence of these infrastructural facilities in any residential property will affect the rental value of such property.

In the light of the harsh condition Nigeria has been going through recently, skyrocketing cost of building materials and construction, high cost of finance and unpredictable economic condition, there has been decrease in infrastructure and little or no maintenance of the existing stock. Investment must be strategically positioned where it has access to basic infrastructure so as to keep the property in a state to command a constant flow of income or benefit and appreciate it capital value.

Considering the problem of increasing the cost of providing infrastructure, the dilapidated one are still in use, the federal government and it agencies left the petroleum trust fund [P.T.F] doing all they could to improve the present infrastructure facility stock. But the fact remains that, the government does not have enough fund to improve on the entire stock.

1.1 BACKGROUND OF THE STUDY

Real estate developers were constantly faced with the issue of making decisions on the type of property to invest their hard earned income or highly competitive, secured mortgage funds, which were attached with high lending rates. Property developers who want to invest in residential building development should endeavor to provide these two infrastructures amongst others with a view to earn attractive rental values on their residential property in Niger state in particular, towns and cities in developing countries. The study revealed that infrastructural facilities contribute 30.50% in the determination of rental values residential buildings in Niger state of which the provision of wall-fence round the building and installation of burglary proof in the entire window played the most important infrastructure. It is hoped that this will assist the local planning authorities to map out proposal/development in their different areas of jurisdiction in addition; it will render meaningful in the development of strategies for estate layout that will promote urban environmental quality thereby enhancing property values in the areas. The primary data collected were subjected to multiple regression analysis and the determination of the effect of the available infrastructure such as water, electricity, access road, kitchen, toilet, refuse disposal facility, wall-fence, installed burglary proof, drainage channel, day watch security and night watch security services. Government should continue to embark on comprehensive road rehabilitation by tarring all the roads in the areas of the city suffering from poor road network, poor electricity. It has now been realized that state government cannot provide all the necessary facilities, hence individuals and federal government should come to the aid of the state government for the provision of the essential infrastructure such as roads, water and electricity supply e.t.c.

1.2 AIM AND OBJECTIVES OF THE STUDY

The aim of the study is to examine the urban infrastructural facilities in Lavun local government Kutigi with a view of making useful recommendation for the improvement of infrastructural facilities in Kutigi.

The special objectives for realizing this aim are;

a. To study the concept of urban infrastructure in the society.

b. To identify factors effecting the efficiency of infrastructural facilities.

c. To identify the available infrastructural facilities in the study area.

1.3 STATEMENT OF PROBLEMS

The major problem identified in the course of the study is that the present infrastructural facilities are inadequate to meet the need of it users or occupier of the residential properties.

This has posed a problem for the various levels of government of the day and parastatals on what to do to improve on the present situation considering the poor financing power of the government parastatals, high cost of construction and materials with the unpredictable socio-economic developments.

It is therefore in light of these, that the study tends to identify these infrastructural facilities how far they have gone in meeting the demand and expectation of it users, and examining the adequacy of urban infrastructural facilities on residential housing development.

1.4 RESEARCH METHODOLOGY

In the process of completing data and information, for writing this project and to entrust a good project, the following were taking into consideration namely; availability; reliance, timeless, consistency.

SOURCES OF DATA COLLECTION

Under this data collection there were two sources consulted for collection of data.

A. PRIMARY DATA COLLECTION primary data collection method used by the researcher is entirely for this project at hand in this study.

The researcher used the following combination for primary data collection, these includes; colleagues in work and housing department in the local government and some developer, house owner.

B. SECONDARY DATA COLLECTION

They include data from various text book on infrastructure and property development journalists in newspaper, pamphlets, article, symposium papers presented.

1.5 SCOPE OF STUDY

The study is expected to cover all areas in the Lavun local government, but as a result of local government factors, the population size has been reduced. In this regard, the study was centered only in Kutigi metropolis.

1.6 SIGNIFICANCES OF THE STUDY

The importance of infrastructural facilities as a monument tool for residential property values is that the study will fund to serve as a guide to the government parastatals and private individuals in decision making especially in local government.

CHAPTER TWO

2.0 LITERATURE REVIEW

2.1 INFRASTRUCTURE

There are various definitions, meaning and concept ascribed to the word infrastructure, right from the evolution and creation of town and cities throughout the world. Some of the definition of infrastructure is here by examined. Webster [1978] states that infrastructure are works constructed for public use of enjoyment especially when financed and owned by the government.

The English Collins dictionary defined infrastructure as includes building, structures and use of land are provided by developers or statutory authorities example are railway, road bridges, gas, electricity ,water, sewage/waste disposal, telephone installation e.t.c. From the above definitions it is clear that different perspective exist as regards infrastructure. However, all point to the fact that infrastructure is the basis of development of any nation and that its provision in most cases is by the government.

2.1.1 TYPES OF INFRASTRUCTURE

Infrastructure is an embracing concept for the wide range of direct services offered by the government of any country so as to facilitate healthy living aesthetic.

Emeluruike [1997] attempted a classification of infrastructure in an urban area, which includes;

REQUEST FOR PROJECT MATERIAL

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Tuesday 10 May 2016

INFRASTRUCTURE (AL) FACILITIES AS A PUBLIC AND ECONOMIC TOOL

INFRASTRUCTURAL FACILITIES – Like any other nation in the world. The financing of infrastructure necessary for the development of new housing on the urban fringe. In Nigeria infrastructure companies economic, social and environmental infrastructure. Economic infrastructures includes networked services such as hydraulic facilities (water, sewage and drainages) roads and other transport facilities energy distribution networks and telecommunication. Social infrastructure includes facilities that provides services such as welfare and general community support, open space and recreational facilities health and education. Environmental infrastructures includes the land systems, installations and other measures aimed at protecting the natural environment and heritage especially water ways, habitats, flora and fauna.

Some of the services fall within the statutory function of one tiers of government or the other for instance, the 1989 constitution assigned to city councils, the responsibly for the construction and maintenance of some categories of road streets, drains, installation of street lighting and provision of refuse disposal services in practice, however, the state government sometimes step into complement the efforts of municipal council particularly in these cities that are state capitals.

Infrastructures investment is connected to all facets of economic development often, the concept of infrastructures investment and economic development are considered one and the same variable since economic development is universally connected with increasing property values near the infrastructures projects.

Infrastructure is a key element in the generation of economic growth and development and the main driver of urban activities. The efficiency of economic and social system is to large extent depend on the efficiency of infrastructure. For a nation to experience sustainable development and growth It may have developed an efficient infrastructure system. This is essential for efficient and proper functioning of urban economic and social activities

Some of the prominent public agencies responsible for the provision and management of the facilities are:

Power holding company of Nigeria PLC. In charge of electricity, generation, distribution and supply to consumers.
Nigeria telecommunications limited (NITEL)
State water cooperation.
Nigeria post service limited (NIPOST)
State water management board e.t.c.

Wednesday 18 November 2015

THE ROLE OF INFRASTRUCTURAL FACILITIES ON RESIDENTIAL PROPERTY VALUES IN NIGERIA.

THE ROLE OF INFRASTRUCTURAL FACILITIES ON RESIDENTIAL PROPERTY VALUES IN NIGERIA.

ABSTRACT

CHAPTER ONE

1.0 INTRODUCTION

Infrastructural facilities embraces entirely any services in which the various levels of government in the country as well as various communities are collectively involved in its provision.

This also includes services provided by voluntary agencies and private individuals.

1.1 BACKGROUND OF THE STUDY

1.2 AIM AND OBJECTIVES OF THE STUDY

The special objectives for realizing this aim are;

a. To study the concept of urban infrastructure in the society.

b. To identify factors effecting the efficiency of infrastructural facilities.

c. To identify the available infrastructural facilities in the study area.

1.3 STATEMENT OF PROBLEMS

The major problem identified in the course of the study is that the present infrastructural facilities are inadequate to meet the need of it users or occupier of the residential properties.

1.4 RESEARCH METHODOLOGY

SOURCES OF DATA COLLECTION

Under this data collection there were two sources consulted for collection of data.

A. PRIMARY DATA COLLECTION primary data collection method used by the researcher is entirely for this project at hand in this study.

The researcher used the following combination for primary data collection, these includes; colleagues in work and housing department in the local government and some developer, house owner.

B. SECONDARY DATA COLLECTION

They include data from various text book on infrastructure and property development journalists in newspaper, pamphlets, article, symposium papers presented.

1.5 SCOPE OF STUDY

1.6 SIGNIFICANCES OF THE STUDY

REQUEST FOR PROJECT MATERIAL

Good Day Sir/Ma,

WARNINGS!

PLEASE make sure your project topic or related topic is found on this website and that you have preview the abstract or chapter one before making payment.

Thanks for your interest in the research topic. The complete research work will cost you N2000 and we will send the material to you within 24hours after confirming your payment.

Make the payment of N2000 into any of the account number below and we will send the complete material to you within 24hours after confirming your payment.

Account Name: Agada Leonard E
Account No: 2070537235
Bank: UBA

Account Name: Agada Leonard E
Account No: 3049262877
Bank: First Bank

Or
Account Name: Agada Leonard
Account No: 0081241151
Bank: Diamond Bank

After payment, send the following information to us through this email
address: enemsly@gmail.com

Topic paid for:
Amount Paid:
Date of Payment:
Teller No or Transaction ID:
Name of Depositor:
Depositor Phone Number:
Email address:

NOTE: The material will be forwarded to the email address you provided
within 24hrs after confirmation of the payment.
Thanks.
Agada Leonard E.
For: Enems Project.

For more information visit our contact page @ CONTACT US