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Challenges And Prospect Of Property Re-development
[A CASE STUDY OF TAIWO ROAD ILORIN]
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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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