PROJECT BODY:
CHAPTER ONE
1.0 INTRODUCTION
A study of road property investment in revealed a number of constraints which were associated with the regulation of houses that is the restructuring of building.
In the area of pre- investment students for property development or redevelopment the anticipated return can only be tested or ascertained with proper understanding analysis and taking into consideration.
The factor affecting redevelopment omuojine ( 1993) history has it that ilorin was founded orgurally by those who built according to hallet arahan ( 1979) all value in arty hand under go continue evaluation form a stage of non existence through a circle of change.
In nigeria the law of nigeria (1948) cap 155 defines development or redevelopment as any building operation and any use of land or any building there in for a proposed which is disproved from the proposed which the land for building was last being used.
More ever, british town and country planning act (1947) carrying out building engineer, mining or other operation in an over, under land or the making of any material residential building in the area, which later brought up to a standard of a distinct settlement most of those building built were able to change in their use as a result of the development of the town physically environmentally and economically.
With the federal government pronouncement of as a capital of kwara state.
There arose the need to create a business district and the resultant use for commercial use some are bergs restored to us formal use due to obsolescence that had set on the building for instance a three (3) bedroom residential could have it use change to an estate surveyors office.
Similar conversion may governor involve tampering with the structure by way of pulling down we all, addition of new accommodation and imploring the physical fabrics of the building.
Also, an obsolete terminates building with eight (5) rooms (i.e. face to face) may be converted to flat or any other type of design.
Although, the redevelopment enhancement aesthetic value of the building and make alternative enough for the type of the use proposed.
More so in some cases, alternation may have to be done to be both the internal and external part of the building for instance a converted office accommodation proposed to house a new bank may give it s approach view redesign and filled with many architectural decoration further more the frontal fence may have to be pulled down to aid visibility and give room for parking lots redevelopment project cannot be carried out without learning some task or challenge on the developer and even the property consumer.
In carrying out such project the developers encounter difficulties which stand as obstacle to the successful, efficient and effective development redevelopment project.
The challenge includes government policies building material the real estate finance and others.