EFFECT OF COMMERCIAL LAND USE AND VALUE
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EFFECT OF COMMERCIAL LAND USE AND VALUE
CHAPITRE ONE
INTRODUCTION
Land is a national endowment that refers to the said section of the earth’s surface, whereas land use is defined as the way, manner, or order in which land is utilised for deterrent purposes by people in an area. This echoes the need for commercial property acquisition for economic and business transactions.
Ogui urban is located in Enugu state’s capital city and has a normal urban setting. It is surrounded by important roads and towns, some of which include Oni – Asata, Holy Ghost, Ziks Avenue, Okpara Avenue, and so on, making it accessible for any type of business transaction.
As a result, Investors tend to exploit commercial land in the surrounding districts, which include artisan, Edinburgh, independence layout new layout, onu-Asata, Obiagu, and others. The uniqueness attracts a lot of investors, who then refuse to follow the central authority’s enforced planning laws.
In other terms, in basic economics, value is defined as the utility or satisfaction that a thing or seminar provides. For the purposes of this article, value refers to the worth of an interest in land or a building.
Land use in Enugu was proposed previously when Enugu was under Anambra state, and the use of commercial lands by investors was properly monitored, and it is still being monitored today,
but not as effectively as it used to be in the case of investors who migrated into other areas that were not Commercially Proposed Areas and had to accept the fact that those areas were not commercially proposed areas but were to support commercial activities.
As a result, the residents in those localities received a treat. Ogui urban is an example of one of these areas. The purpose of this work is to demonstrate the consequences of commercial land use on land value, and I intend to do so in this piece.
1.1 HISTORICAL INTRODUCTION
Ogui urban is located in Enugu state’s capital city. She broke away from the Affar and appointed her first paramount Chief, late Chief Augustine Nnamanni, who died on October 30, 1993. Ogui did not have a chief until 2002, when Chief Oko Michael Mmaduekwe was sworn in.
On July 12, 2003, Ogui established or received her autonomous community. Her culture is embellished by various dances and masquerades. Ogui urban is comprised of five villages: Umuokokwette, Umuabu, Onuatu Onu Asala, and Onyke, as well as two local governments:
Enugu North and Enugu Central North. Along the presidential road, she shares a border with her brother Abakpa Nike, while the original Ogui dwellers live in Umunevo village. Now a community that welcomes many investors, visitors, and students.
1.2 STATEMENT OF THE GENERAL PROBLEM
It has long been documented that investors face the challenge of investing blindly without knowing the impact on land value. They are unaware of the consequences of commercialising property designated for federal values.
As a result, most investors take advantage of the constitutional guarantee for land value, and they will be victimised in the future by the execution of a government plan on exploited land.
The extent of indiscriminate rubbish disposal that causes environmental damage, the congestion of planned building by investors providing space for the primary road and chewing into part of the pedestrian path. The increased movement of investors allows for the vandalism of electricity wires and the obstruction of drainages with waste.
1.3 OBJECTIVES OF THE STUDY
The goal of this study is to make the government, as the land use allocation authority, and private investors aware of the impact of commercial land use on land value in Ogui.
1.4 SCOPE OF THE STUDY
Ogui Nike’s development was divided into two stages: “urban Ogui” and “rural Ogui.” Ogui is currently rural – Ogui has had trickle development, whereas urban Ogui has experienced effective development.
The urban Ogui includes the control business district (Atesian, Ogbetle), and its scope is primarily concerned with the impact of commercial land use.
1.5 LIMITATIONS OF THE STUDY
The discrepancy of documents as the Ogui municipal and regional planning authority limits this study endeavour to some extent. Some officials were not always present to provide or distribute the required map diagram. It was also hampered to some extent by a lack of financial resources.
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