📄 Research Article
AJCR Vol. 8, No. 2 (2021)
TITLED VS. UNTITLED RESIDENTIAL LAND VALUES: LEARNING FROM NIGERIA EXPERIENCE
Victor Olutope Ige
Department of Estate Management, Federal University of Technology, Akure, PMB 704 Akure, Ondo State, Nigeria
Open Access
Peer Reviewed
Research Article
Abstract
The purpose of this paper is to evaluate the difference in value of titled and untitled lands in an urban area with special focus on Akure, Nigeria. Land titling provide enforceable legal and secure rights to the possession and use of a given portion of land. Hence, it gives greater confidence to parties seeking to participate in the urban land market and provides a good hedge for land transaction. This explains why land titling influence land value. Data on land values was retrieved from 1075 household heads in the selected area of Akure. Band of values on historical cost of land (per m2) in the selected area neighbourhoods of Akure was obtained from the Ondo State Ministry of Lands and Housing. Data gathered are analyzed using independent samples t test. The findings show a significant difference in the value of titled and untitled land. The outcome of the paper is a further proof of the effect of land titling on land value, particularly in an urban environment where land titling is a convincing evidence of ownership to the exclusion of any other parties claiming ownership to the same portion of land.
Keywords:
Land, Land values, Residential land, Titling, Titled land, Untitled land
📑 How to Cite This Article
APA 7th Edition:
Victor Olutope Ige (2021). TITLED VS. UNTITLED RESIDENTIAL LAND VALUES: LEARNING FROM NIGERIA EXPERIENCE. Academic Journal of Current Research, 8(2), 1-11. https://doi.org/
Victor Olutope Ige (2021). TITLED VS. UNTITLED RESIDENTIAL LAND VALUES: LEARNING FROM NIGERIA EXPERIENCE. Academic Journal of Current Research, 8(2), 1-11. https://doi.org/
Vancouver Style:
Victor Olutope Ige. TITLED VS. UNTITLED RESIDENTIAL LAND VALUES: LEARNING FROM NIGERIA EXPERIENCE. Acad. J. Curr. Res.. 2021;8(2):1-11. DOI:
Victor Olutope Ige. TITLED VS. UNTITLED RESIDENTIAL LAND VALUES: LEARNING FROM NIGERIA EXPERIENCE. Acad. J. Curr. Res.. 2021;8(2):1-11. DOI:
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