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THE
EFFECT OF SLUM ON PROPERTY VALUES (A CASE STUDY
AGUOWA IN ENUGU, ENUGU STATE)
ABSTRACT
The
aim of this dissertation is to evaluate the effects of slum on property values
at Aguowa via Trans-Ekulu and confirm that slum was responsible for the low
property value in the area. The study showed that the slum occurrence was as a
result of rural migration to urban areas and lack of original planning in the
area. This work is organized in five chapters. Chapter one deals with the
introduction, statement of the problem, purpose of study, limitation and
delimitation, background and need for the study, significant of the study and
the overview of the study. Chapter two deals on the literature review of related
study like concept of residential slum, definition of slum, type of slum, roles
of slum, theoretical aspect of slum, history of recognition of slum, concept of
real estate development, type of property and classification, rational for real
property development and property values.
Chapter three talked about the research method, the re-statement of the
problem, sources of date, of the problem,
sources of date, population and
sample size, data collection, date
collection procedure method of data analysis and finally data analysis
procedure.
Chapter
four deals on the data presentation and analysis while chapter five deals with
findings, recommendation and conclusion.
TABLE OF CONTENT
CHAPTER ONE
1.0
Introduction
1.1
Background of study
1.2
Statement of problem
1.3
Objective of the study
1.4
Research question
1.5
Theatrical foundation of the study
1.6
Significance of study
1.7
Delimitation of study
1.8
Limitation
1.9
Overview of the study
CHAPTER TWO
2.1
Definition of Slum
2.2
Concept of Residential Slum
2.3
Attributes of slum
2.3.1
Physical Attribute
2.3.2
Social Attribute
2.3.3
Economic Attribute
2.4
Causes of blight and factors leading to slum
formation
2.5
Types of slum
2.6
Role of slum
2.7
Slum as a critical environmental problem
2.8
Theoretical aspect of slum
2.8.1
History of recognition of slum
2.8.2
Concept of real/property development
2.9
Types of property and classification
2.9.1
Property values
CHAPTER THREE
3.0
Introduction
3.1
Re-statement of the problem
3.2
Source of data
3.3
Description of study area
3.4
Population and sample size
3.5
Data collection instrument
3.6
Data collection procedure
3.7
Method of data analysis and presentation
CHAPTER FOUR
4.0
Presentation and analysis of data
4.1
Presentation of base data
4.2
Presentation of data on level of deterioration within the study area
4.3
Presentation of data on the impact of slum on property values
4.4
Presentation of data on the effect of slum on property values
4.5
Presentation of data on property
CHAPTER
ONE
INTRODUCTION
At
the commencement of coal mining in Enugu in 1915, Aguowa received many
immigrants from where the commute to the city to partake in coal boom as at
that time. By and large, the rural settlement experienced rapid population
growth and since it was at the outskirt of Enugu central, it was not subjected
to building regulations and codes, hence houses constructed of handy materials
sprang up all over the settlement. Thus the area was crowded with poor housing
structures most disorderly located. The settlement has grown and developed in
an unplanned manner resulting in the decline of property values and social
status of the estate environment. While the dwellers show no indifference to
the poor conditions of the urban environment, the city government agencies
responsible for planning and managing the urban environment and regulating
urban life displayed a mark of ineffectiveness in the discharge of their
duties.
This condition
consequently brought a spontaneous development of sub-standard dwelling, deriod
of essential amenities, estate roads, drainage, ventilation, recreational
facilities, refuse disposal facilities etc. lack of all these eventually both
the available infrastructures and building consign obsolescence and
subsequently the slum. Due to this burning issue of slum, the researcher is set
to evaluate the effect on property values at Aguowa, its states of evaluation
in the study area taking note of both its immediate and remote causes. In other
to established and the effect of this slum on property values the researches
reduces the population of study which is it properties in the two 92)
residential neighbourhoods of Aguowa (namely Trans – Ekulu and Federal Housing
Estate).
Stratified random sampling method was used to collect data for the study.
1.1
BACKGROUND OF STUDY
Aguowa
area is the native home land of the Nike people. The land is the freehold
property of the people, as a result of this, some families were able to lease
or sell land to non indigenous when the expansion of the Enugu urban centre
aught up with the area sometime in 1955. Some of the none indigenes erected
houses while others employed the services of licensed surveyors to demarcate
the portion of their land in anticipation of erecting structures which would
comply with the building bye laws as approve by the municipal council.
Unfortunately, the native authority could not control development in this area,
until Enugu was declared as planning area, on 14th September, 1958.
Even with the declaration, development continued haphazardly in total disregard
of town planning regulation. Uncontrolled development within the area and
increases urban population in Enugu led to the blighting of the neighbourhood.
The environmental conditions are considered very poor and dangerous to health.
This is partly due to the public attitude towards waste disposal and to the
inefficiency and
ineffectiveness.
1.2
STATEMENT OF THE PROBLEMS
“Aguowe
Jungle” is characterized by slum condition like blighted structure, over
crowding, high occupancy ratio mostly by low income group, under supply of
public amenities, bade roads etc. This observation made the researcher
interested in trying to examine the effect of this condition (slum) on property
values and hence the research work.
1.3
OBJECTIVE OF THE STUDY
The objective of this
study is as follows: -
a.
To identify the causes of slum in the study area as well as the indicator of
slum environment.
b.
To
find out whether the property value including rental and captial values of
landed properties are low or high in Aguowa as a result of slum condition.
c.
To
establish whether the slum has a negative or positive effect on property value
in the study area.
d.
To
establish whether slum environment makes investment in real estate and property
market transactions, a viable venture.
e.
To
recommend the best strategy towards eradicating the slum of Aguowa area and hence
create a suitable environment that will enhance the property value in the
area.
1.4
RESEARCH QUESTION
To investigate the
research problem earlier stated and to rightly address the focus of this study
more objectively, certain questions have been raised. It is believed that
obtaining the right answers to these questions have been raised. It is believed
that obtaining the right ensures to these questions will led to the achievement
of the objectives of the study. The questions are as follows:
1)
Is there any significant
manifestation of slum in the study area when compared with other surrounding
layouts.
2).
Does slum have any significant impact
(positive or negative) on property values in Aguowa.
3).
If positive urban planning strategy is applied to the slum area, will thee be
any significant effect on real estate values within the slum area/
1.5
THEATRICAL FOUNDATION OF THE STUDY
This work is based on the theory of the highest and best use of land. This is
meant to mean the optimum use of land and land resources (Baco 1932). This is
the use of land in such a manners a manner as to provide and optimum return to
their owners, or to society. Aguowe area is not being put to its highest
and best use and that calls for he significance of this study.
1.6
SIGNIFICANCE OF THE STUDY
The
study identifies the types of slum in the study area and elsewhere and has
clearly portaged the need for an urban planning policy and also a determined
resolve to clear a slum environment so as to enjoy the benefits of real estate
environment through the enhanced property values.
The
study will also be of very relevance to the practicing estate surveyors and the
banking institutions who might need real estate as collateral for providing
credit facilities for the conditions of the properties and neghbourhoods when
carrying out mortgage and insurance valuations as well as other valuation
purposes. Of course a property located in a slum environment will not make for
a good collaterals for a bank loan because of low returns. The study will also
be benefited to the residents of Aguowa because to the recommendations
are implemented, they will enjoy a clean and healthy environment.
1.7
SCOPEOF STUDY
This study is restricted to the development of slum in Aguowe of Enugu Central
local government area. The investigation will consider the environmental, socio
economic demographic, transportation, infrastructureal and housing amenities
conditions relevant to enhance estate setting as well as property
values.
1.9
OVERVIEW OF THE STUDY
the
study starts with an introductory chapter on the research problem and other
related issues. Chapter two dwells on literature review, throwing more lights
on slum, concept of slum, types of slum, attributes of slum, causes of blight
and factors leading to slum formation, types of slum, role of slum, history of
slum, etc.
Chapter three talked about the research methodology, research method and
design, source of data, data collection and instrument for data analysis.
Chapter four deals with data presentation and analysis while chapter five deals
with the findings, recommendation and conclusions.
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