THE EFFECT OF LOCATION OF TERTIARY INSTITUTION ON PROPERTY VALUE


THE EFFECT OF LOCATION OF TERTIARY INSTITUTION ON PROPERTY VALUE  

CHAPTER ONE

1.0 INTRODUCTION AND BACKGROUND

1.1 GENERAL INTRODUCTION

A well located product can often survive economically even if development is poorly planned and managed. A project that is not well located may fall even though it has the best planning and management and even design, Cassidy (2005). Today, many investors in real estate have no regret for taking a wise decision in site section while many still regret choice of bad location.

The relative location of a parcel of land is what determines it value. Thus, the relative location made is the combination of the spatial proximity or a plot of land to other parcel of land and linkages between them (Harsh 2000). In the course of studying the effect of location on property value accessibility cannot be isolated.

Accessibility in this word considers the time and convenience of getting to a place. This refers to the nature of the road network i.e. rough, smooth undulating to other use wise. All these inquires have been observed in order to make alteration where necessary and avoid future occurrence, hence considering the work in respect of the effect of location of tertiary institution on property value.

1.2 STATEMENT OF PROBLEM

This project critically examines or gives an understanding of the effect of location on property value. These projects also gives an understanding on how to choose or to locate a suitable site for a property and adequately to know the present property value so as to have a fruitful business and allows the people in the institution have a befitting and credible knowledge and accommodation  

Some estate surveyor find it difficult to know the value of a property in some selected area. So in these cases, some research topics have been treated by scholars to the effect of location on property value. These dissertation as therefore aimed at bringing to limelight the fact that property value is an important aspect of utilizing a property through which enormous problem of valuation could be tracked if necessary attention is given appropriately.

1.3 AIM AND OBJECTIVES OF THE STUDY

The aim of this study is to analyse the effect of location of tertiary institution on property value.

Objectives

The objectives of the study are: -

i) To examine the effect of location of tertiary institution on property value

ii) To determine the value of development in the study area

iii) To assess different types of property within the study area

iv) To determine the level of property value before  and after

v) To suggest and recommend possible solution to the effect caused by location on property value

1.4 SCOPE OF THE STUDY

This project topic deals with the effect of location on property value but the scope of the study shall be restricted to a tertiary institution which is Al-hikmah University, Ilorin and its surroundings.

1.5 LIMITATION OF THE STUDY

Though, it is the intention of this research to present a comprehensive study on this subject matter, nevertheless, the following constraints to limit this laudable intension

i. Un-co-operative attitude of the respondent in granting interviews and filling of questionnaires

ii. Insufficient textbooks in relation to the work for the purpose of literature review

iii. Financial constraint which directly and indirectly affect the information and data used

iv. Short time required in producing and completing the dissertation notwithstanding the above short comings, everything’s possible to ensure a comprehensive dissertation was undertaken.

LOCATION PLAN

Geri alimi Roundabout

Untied Road

Mandate Estate 

Yebmut Roundabout 

Atiku Road

Case study Al-hikmah University

F

F

Seap Company

Complex

RealGold Filling Station

MRS. Filling Station

Heach

Conoil Company

Mandate House

Mandate Estate 

Filling Station

M

H

Saraki House

peculier Supermarket

Deers Model

Mudram Filling

Coutage Hospital

F

S

////

Conoil Company

Air force Barrack

IQRA primary Schl.

Mandate Market

Block Industry 

1.6 STUDY AREA

Ilorin is the present day capital of Kwara state in the north central region of the federal Republic of Nigeria. It is a pre-dominantly Islamic city with people of diverse culture who have come together to live as one in peace and harmony. The entire Ilorin community comprises of five local government area namely- Ilorin west, Ilorin south, Ilorin East, Asa and Moro Local Governments. These local government areas are all under the entity known as Ilorin Emirate.

Ilorin community was discovered in the 18th century by the Duo of Afonja-Are-Onakakanko, a Yoruba warlord and sheik Alimi and Islamic scholars.

These heroes of Ilorin arrived Ilorin at different times and in different circumstances. However, after so many internal and external wars which further polarized the camp of both men and made them suspicious of each other, and eventual confrontation ensured and Alimi defeated Afonja. Sheik Alimi extended a hand of friendship to other hanlets nearby and formed a larger community within a common belief and destiny, which he headed, that community is now known as a testimony of the unity of the people.

Ilorin is one of the largest cities in Nigeria and is the capital of Kwara state. As of year 2009, it had a population of 847,882 people. 18th January 2013, the population of Ilorin, Nigeria increases to 958,693 according to the Geonjaves geographical database, Ilorin. It enjoys an undulating relief interspersed with scattered hills 

1.5.1 HISTORICAL BACKGROUND OF THE STUDY AREA

Al-hikmah university, Ilorin Nigeria was established in 2005 by the Abdul-Raheem Oladimeji Islamic Foundation (AROIF) Nigeria, the university came into existence via the granting of operating licenses to run as a conventional private university by the federal government of Nigeria; license no 010 on the 7th of January 2005. It commenced academic activities during the 2005/2006 academic session with 70 students spread across the three (3) take off colleges: humanities, management sciences and natural sciences.

By the beginning of the 2012/2013 academic session, Al-hikmah University could showcase four (4) colleges with the addition of college of education, and a student population of about three thousand (3000). Al-hikmah University stands out among Nigeria University with a well-articulated mission of promoting both academic and moral excellence for the good of Nigeria nation in particular and for furthering the course of humanity in general. The overall goal of the university is summed up in its motto “learning for wisdom and morality”

1.6 DEFINITION OF TERMS

There are some relevant terms used in this topic which includes: -

i) Property: a property can be defined as any physical or tangible entity which is owned by a person or a group of people or an entity like a corporation. Depending on the nature of the property a owner of a given property has the right to consume, sell, rent, mortgage, transfer, exchange or destroy it. “McKay, John P (2004)” uses of property

ii) Institution: an institution can be defined as an establishment, foundation or organization created to pursue a particular type if endeavor such as banking by a financial institution (G. M. Hodgson (2006)

iii) House: can be defined as a place of residence or refuge, when it refers to a building, it is usually a place in which an individual or a family can live and store personal property such as single family “detached home” or an apartment (Stanchack, John (2000), Civil war, geographical handbook.

iv) Location: the term location and place in geographical are used to notice and or identify a point of an area on the earth’s surface or elsewhere. The term “Location” generally implies a higher degree of certainly then “place” which often has an ambiguous boundary relying more an human and social attributes of place identify and sense of place than and geometry. (Gersmeh, P. (2008) “Introduction to land property”

v) Value: the word value as been defined by different scholar, justice bodies was quoted to have said that value is a word of many meanings. Banbright, (1937) said that value is been to define the importance of business and economic undertakings. It implied the capacity of a commodity to satisfy want, it can also be related to political, social and religious issues

.


TYPE IN YOUR TOPIC AND CLICK SEARCH.






RESEARCHWAP.COM

Researchwap.com is an online repository for free project topics and research materials, articles and custom writing of research works. We’re an online resource centre that provides a vast database for students to access numerous research project topics and materials. Researchwap.com guides and assist Postgraduate, Undergraduate and Final Year Students with well researched and quality project topics, topic ideas, research guides and project materials. We’re reliable and trustworthy, and we really understand what is called “time factor”, that is why we’ve simplified the process so that students can get their research projects ready on time. Our platform provides more educational services, such as hiring a writer, research analysis, and software for computer science research and we also seriously adhere to a timely delivery.

TESTIMONIES FROM OUR CLIENTS


Please feel free to carefully review some written and captured responses from our satisfied clients.

  • "Exceptionally outstanding. Highly recommend for all who wish to have effective and excellent project defence. Easily Accessable, Affordable, Effective and effective."

    Debby Henry George, Massachusetts Institute of Technology (MIT), Cambridge, USA.
  • "I saw this website on facebook page and I did not even bother since I was in a hurry to complete my project. But I am totally amazed that when I visited the website and saw the topic I was looking for and I decided to give a try and now I have received it within an hour after ordering the material. Am grateful guys!"

    Hilary Yusuf, United States International University Africa, Nairobi, Kenya.
  • "Researchwap.com is a website I recommend to all student and researchers within and outside the country. The web owners are doing great job and I appreciate them for that. Once again, thank you very much "researchwap.com" and God bless you and your business! ."

    Debby Henry George, Massachusetts Institute of Technology (MIT), Cambridge, USA.
  • "I love what you guys are doing, your material guided me well through my research. Thank you for helping me achieve academic success."

    Sampson, University of Nigeria, Nsukka.
  • "researchwap.com is God-sent! I got good grades in my seminar and project with the help of your service, thank you soooooo much."

    Cynthia, Akwa Ibom State University .
  • "Great User Experience, Nice flows and Superb functionalities.The app is indeed a great tech innovation for greasing the wheels of final year, research and other pedagogical related project works. A trial would definitely convince you."

    Lamilare Valentine, Kwame Nkrumah University, Kumasi, Ghana.
  • "Sorry, it was in my spam folder all along, I should have looked it up properly first. Please keep up the good work, your team is quite commited. Am grateful...I will certainly refer my friends too."

    Elizabeth, Obafemi Awolowo University
  • "Am happy the defense went well, thanks to your articles. I may not be able to express how grateful I am for all your assistance, but on my honour, I owe you guys a good number of referrals. Thank you once again."

    Ali Olanrewaju, Lagos State University.
  • "My Dear Researchwap, initially I never believed one can actually do honest business transactions with Nigerians online until i stumbled into your website. You have broken a new legacy of record as far as am concerned. Keep up the good work!"

    Willie Ekereobong, University of Port Harcourt.
  • "WOW, SO IT'S TRUE??!! I can't believe I got this quality work for just 3k...I thought it was scam ooo. I wouldn't mind if it goes for over 5k, its worth it. Thank you!"

    Theressa, Igbinedion University.
  • "I did not see my project topic on your website so I decided to call your customer care number, the attention I got was epic! I got help from the beginning to the end of my project in just 3 days, they even taught me how to defend my project and I got a 'B' at the end. Thank you so much researchwap.com, infact, I owe my graduating well today to you guys...."

    Joseph, Abia state Polytechnic.
  • "My friend told me about ResearchWap website, I doubted her until I saw her receive her full project in less than 15 miniutes, I tried mine too and got it same, right now, am telling everyone in my school about researchwap.com, no one has to suffer any more writing their project. Thank you for making life easy for me and my fellow students... Keep up the good work"

    Christiana, Landmark University .
  • "I wish I knew you guys when I wrote my first degree project, it took so much time and effort then. Now, with just a click of a button, I got my complete project in less than 15 minutes. You guys are too amazing!."

    Musa, Federal University of Technology Minna
  • "I was scared at first when I saw your website but I decided to risk my last 3k and surprisingly I got my complete project in my email box instantly. This is so nice!!!."

    Ali Obafemi, Ibrahim Badamasi Babangida University, Niger State.
  • To contribute to our success story, send us a feedback or please kindly call 2348037664978.
    Then your comment and contact will be published here also with your consent.

    Thank you for choosing researchwap.com.