Project Abstract

This project on the role of estate surveyors and valuers in the development of property a case study of Ekwulobia in Aguata Local Government Area Anambra state is bringing to focus the role this professionals can play in the course of the topic in question in our everyday endeavours for utilization and management of our resources base on these efficient and best use of these resources for self reliance and economic welfare. It is amazing to note that many people in different sectors of our economy mainly in rural development up till this twenty one (21st) century, do not know whom a valuer is nor his role in the course of rural development. It is quite clear to note also that many people who are aware of their existence regarded them (the estate surveyors and valuers) as mere ent collectors. This impression should be corrected and the role of men of the noble profession, must be sought for their expert knowledge utilized for the over-handling of our nation’s rural development’s, plan and policies. Today it is quite unfortunate that Nigeria which was once one of the richest third world country as an earlier said has fallen from grace to grass after her glorious days of the ever said oil-boom of the seventies, it has now become a debtor nation, this non consultation of the various professional bodies in management and use of our natural and manmade resources especially land and other related real estate in different fields of our rural development has posed a lot of estate management and social problems today. The aim of putting up my write up is to put into light what this discipline “Estate Management” is saying about and their role in both rural and urban development.

Project Overview

1.0     INTRODUCTIONEstate management as a discipline and a noble profession especially in a developing country like Nigeria is progressively becoming significant. Governments, groups, corporate bodies and even private concerns action have taken a new dimension in the modern world as a result of rising economic trend especially in this period of global economic recession.Now the services of the experts and professionals abounding our labour force are being sought for, and their advice being utilized. A critical look and study of the various hand use problems.(LAND USE ACT) of 1978 in this country reveals that experts and professionals in the field of estate management and other related professions were not consulted for proper advice by the policy makers and implementations before making decisions. Today it is quite unfortunate that Nigeria which was once one of the richest third world country as an earlier said has fallen from grace to grass after her glorious days of the ever said oil-boom of the seventies. The nation has now become a debtor nation.1.1     BACKGROUND OF THE STUDY AREA (EKWULOBIA)This is an urban area made up of nine sub-urban villages, namely: Umuchiana, Agba, Ula, Okpo, Eziagulu, Nkono, Abogwune, Ihuokpala and Umunchi.It is located 25.778km from Awka, 44km from Onitsha (East) and 15.3kilometer east from Aka-Okwa which shows that the town is located at the center surrounded by various sub-urban towns like Agulu-ezechukwu, Isuofia, Ikenga, from North side of Oko, Nnanka,. Then viewing from the South is Ezinifite and Mkpologwu. Ekwulobia, since its creation, it has been experiencing a laudable development all around as regards to infrastructural development such as construction and rehabilitation of new and dilapidated roads, Ekwulobia-Isuofia-Nnobi road, (Ekwulobia-Uga, Agulu-Awka road) etc, the provision of pipe born water and establishment of more. Ekwulobia the largest city in Aguata, is expanding rapidly to a population of about five hundred thousand (5000,000) people excluding non indigene. The land mark area covers about one hundred square meter above main sea level, the land slopes gently towards east into rally of Iyiagu, Okpalayanwu and Ofalu streams which runs down from great height causing great erosion. The people were mainly villagers and predominantly farmers.Ekwulobia is the local government headquarters of Aguata local government area. The very few infrastructural facilities in existence, were the few primary and secondary schools, general hospital, situated with few private ones, the commercial centre area, old Eke market and New Eke market which functions every four days, Hotels, banks, like Access bank, first bank, Zenith bank FCMB etc all revolves round the park (round about).Following the rapid population growth and Emigration rate excluded by advancement in Economic activities recently at Ekwulobia and its environs and neighbourhood, the town has being elevated into an urban status which now calls for government’s attention in infrastructural development. The advancement in economic activities such as re-structuring of parks and re-development of high risk lock-up shops, more banks, filling stations, adequacy of electric power facilities, installation of Nitel pole has been done in some other urban areas like Enugu, Nnewi, Onitsha etc. the ever increasing population growth of students of federal polytechnic Oko when results to increasing demand for more residential accommodations tends to increase the value of real properties at Ekwulobia.CHAPTER TWO2.0     WHO IS A VALUER / ESTATE DEVELOPERThe estate surveyors and valuers Registration board of Nigeria, defined the profession of estate surveying and valuation as those engaging in the arts, science and practice of:i       Determining the value of all description of properly and various interest thereinii       Managing and developing estate and other business concerned with the management of landed property.iii     Determining optimum use of land and its associated resources to meet social and economic needs.iv     Determining the economic use of the resources by means of financial appraisal for the building industry.From the above, one can define a valuer as one who specializes in the arts, science and practice of development and management, estimation of values of land, interest and its associated resources and the determination of the economic and social use of land and interest there in2.1     AN ESTATE DEVELOPERA valuer is quite different from a developer in estate development in the sense that an estate valuer has a good knowledge and experience in appraisal of development project, selection and acquisition of property finance for disposition of complete project and advise the developers in development decision. An estate developer takes loans from financial institution, receives, technical counseling from the professionals, particularly on the legislation or legal implication of such development.The private functions in estate development are as follow:i       They provide opportunity for choosing atternative development.Ii       Identification of market demand.Iii     promoting the use of high calibers of expertise.iv     They have the ability to bear risks.The public functions in Estate development are as follows:i       They potentially recoup financial profit for the communityii       Retain-future control of land and land uses.iii     They consider the effects of development or re-development on the development adjoining lands.iv     Provide desirable development project not provided by market demand.Professionals like the builders, architects, Engineers, development controllers, surveyors etc are used by Estate developer.2.2     FUNCTIONS OF ESTATE SURVEYOR AND VALUESIn practice, the functions of estate surveyor and valuer are as follows:.i. Studying the policies guiding the ownership of land resources and their distribution in the society.ii       Management and development of landed properties.iii     Carrying out market feasibility and viability studies and appraisals of investments proposal and schemes affecting land, buildings and other structures including resources.iv     Taxation and rating of land and building at local and national levels.Finally, the role of valuers in the economic and social development of any community can never be over emphasized. The functions of the valuers centers mainly on land and structures on land. This function can be summarized to be property management and in any economy like Nigeria it is going to be or has been to our greatest advantages that expects in the land or property market. Valuers are involved as far as any dealing with land structures on land are concerned.2.3     ROLE OF A VALUER IN THE DEVELOPMENT OFPROPERTIESIt will be noted before that the estate valuer plays more role in development purposes in the urban area than in the rural area. Most people in the rural area thse days are alive to the need for development, they can even invite the government ot come and aid them in their locally initiated development project.The role which a valuer plays in the rural development are as follows:i. Managing and developing estates and other business concerned with the management of landed properties.ii. To ensure that development in the rural areas meet with the standard like their counterpart in the urban areas, the valuer plays an important role in determining the structure and condition of buildings and their services and advising on their maintenance, alternation and improvement.iii. These day also, the valuer are working in conjunction with the local government council to determines the value of all description of property and of the various interest therein. This is a way of developing the rural area and bringing the sense of urban development to the rural dwellers, all for the purpose of development.iv     Becoming optimum use of land and its associated resources to meet social and economic needs. Lands in the rural area and the resources therein are being put into optimum and best needs of the rural people.v       The value also plays an important role especially in the rural area by advising government on the settlement aspect of land reform which has major influence on estate sitting in the culture of the rural people.vi     As development is taking place in rural area, it is the role or task of the valuer to carry out feasibility and viability studies and appraisal f any investments proposal and schemes affecting land, buildings and other structures and land resourcesvi     They carry out other valuation purposes.