ABSTRACT
landed
properties ( houses ) have been observed, undergoing changes in their design
shapes and uses, this changes in use as
a result of alteration being made could also be know as redevelopment, that is
the restructuring of the building to suite the uses which they were designated.
this
dissertation in the pros of redevelopment in an urban centre, which is ilorin metropolis.
further
more, it examines the causes of redevelopment and analysis its effect on
re-development properties developer and property users.
it
also, highlights the significance of redevelopment challenges analysis of any
project.
TABLE OF CONTENTS
Title page i
Certification ii
Dedication iii
Acknowledgment iv
Synopsis v
Table of content vi
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
i.
To identify the properties under redevelopment
on the case study
ii.
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.
1.5 HISTORICAL
BACKGROUND OF ILORIN
Ilorin
was founded by one ojo-isekuse 19600-1700.
The name ilorin
was derived form ojo isekuse compound now oke-lele area of ilorin. it was on this stone that ojo isekuse
used to sharper his hunting implement e.g. cutlass and arrows hence ilorin the
sharpening ilorin is essentially a yoruba through people by many ethnic group
such as yoruba, hausa, fulani, nupe, kanuri etc they all merged together and
made the party a unique of ilorin identifies.
The ruler of arty and its environment
(the ilorin
emirate) are of fulani crisis through the royal houses has been yourbanized
thoroughly.
Those who are far from the arty made the
mistake of thinking that the various ethnic groups which focus together to make
up ilorin are
separate and antagomatic towards one another. the indigenes guard the ilorin heritage jealously.
ilorin is located at latitude 80 301 ns and
longitude 40 351 et lies in their plan of south western part of Nigeria. The arty
which lies along lagos kaduna
highway is 306km form lagos 600 kilometers from kaduna about 300 kilometer form abuja.
The
main rive is asa river, it occupies a frontally wide valley and flow in south
north direction the river divided in ilorin into two party western part
representing the come of indigenous area of ilorin and eastern part of
representing the area where the government reservation area (gra) is located
towards the north of the western part is an isolated hill called sobi hill. the
hill is about three hundred and ninety four (384) feet high above sea level.
Ilorin
has a tropical and dry climate it has mean annual rainfall of about 1318 which
begins in april and ends in november, it has a populated of 742, 090.
the
area of study in this, projects are government reservation area (gra) and
ibrahim taiwo road the former is an extensive area to the north east of ilorin
was acquired for government use by the id colonial administration in the easily
office part off the 20th century government office and scattered
residential house were constructed their many of the british colonial officer
and their nigerian counterpart hires in the area.
At
independence in 1960 many more nigerian moved into gra, and later, large plot
of land area were allocated to the elite class and they built there some built
house for renting.
On
the other h and,. ibrahim taiwo road is large stretch of road beginning form
the middle of emirs road and at the general hospital junction near queens Elizabeth school. the
roads was known as oyo bye-pass until 1976 which is was renamed Ibrahim Taiwo sequel
acclamation of the military administration of kwara state on February 13th
1967 along with the head of the stage general Muritala Ramat Muhammad. the road
is divided two sections Taiwo Oke and Taiwo Isale i.e. the upper and lower Taiwo Road. The stretch
of the Taiwo road from emirs road to unity Taiwo Roads. Ita Amodu junction is
the lower part while the stretch between the junction and the general hospital
is the upper part owing to the fact. the Taiwo road is part of the commercial
area i n ilorin where in bookshops, boutiques, super market, electrical, and
building materials, material shop some house etc rent i s very high compares to
some other part of ilorin. this is similar to what happen in other hand road,
andulazeez attah road emir road, Ita Amodu road, sawmill area etc within the ilorin metropolis by abdulrazak jimoh in ilorin november, 1998.
1.7 DEFINITION OF TERM
Some
register words and terminologies in the content of the dissertation are defined
below:
Development:
A process of adding improvement (building) to be prepares by the sub-divider.
Redevelopment:
A process where by old structure (building) are demolished only to give way to
replacement development. it is based on an existing builder.
Residential:
These are types of properties or building house constructed for dwelling
purposed, flats.
Property:
It is referred to as the hand and its properties and the building on the land.
Investment:
The money that people or organization have put into a housing business in order
to se4t profit.
Rejuvenation:
The making of an old house a new one again to be able to look attractive.
Obsolescence:
The state of building that becomes old and no longer useful.
Dilapidation:
The state of an old building when it is in very bad condition and beginning to
fall down.
Demolish:
To completely destroy a building another new house.
Yield:
The amount of profit that some one set form business.
Rental value: Is
the amount which a building will reasonably be let annually is the open market.
Landed properties:
Are the building affixed to land and the component of the land like sea, minerals
e.t.c
tenement: this
is a unit of the dwelling house.
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