Assessment of the Impact of Development Control Measure on Residential Property Rental Values in Minna Metropolis.
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Date
2017-12
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Publisher
ATBU Journal of Environment Technology
Abstract
This study aimed at deteirnining the impact of development control on the trend in rental of property in Minna, the data collation for this study are from resident of the neighbourhood, estate surveyor and valuer's, town planners and personal observation through questionnaire,the methodology used is the cluster random sampling technique which was adapted to divide the area into residential neighbourhoods and furthermore, a purposive sampling technique was used because of the residential property characteristic. The data were analysed using inference statistical tools like Gini-coefficient, correlation and multi-regression analysis among others, the resultant outcome showed that there is a strong positive relationship between development control measures and residential property reiital values and also development control measures are not adequately enforced in the planned and unplanned neighbourhoods, it was recommended that estate surveyor and valuer's should advise their clients on the need and importance of investing in neighbourhood that have harmonious land use in order to easily recoup the huge capital outlay invested on residential property development and government should adopt new trends like the guided land development (GLD) and sustainable city programme (SCP). This will provide advancement in the frontier of investment in residential property development through proper execution of development control measures.
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Keywords
Development Control, Residential Property, Rental Value