CHAPTER ONE

INTRODUCTION

The provision of infrastructural facilities In Nigeria is not adequate when compared with that of advanced Countries. It is quite believed that the development of any City or Nation cannot be considered in isolation of infrastructural facilities available in the Country.

Infrastructural facilities were defined according to Donald (1974) as those basic amenities and services essential to both rural and urban societies for economic and social development. These amenities constitute the main fabric of what maybe called urban physical system linked with the property value.

The word “Infrastructure” according to the Webster’s New World Dictionary is defined as a sub-structure or underlying foundation especially the basic installation and facilities on which the continuance and growth of a community, state, country depend on. Such as roads, schools, power plants, transportation, communication system etc.

The availability of infrastructural facilities can enhance more developments and this will directly increase the standard of living of the people residing in such areas. The presence of infrastructural facilities have a great impact  on property value, population growth, and also increase investment of commercial venture which could be a source of generating revenue for the local government. Therefore it has been an area of focus especially to Estate Surveyors and Valuers who are usually responsible for information on property and also guide and advice their clients.

This research work therefore examines the various infrastructural facilities which can make real estate to be an alternative means to potential investors. The success in development or purchase of a property by a potential developer depends on the perfect interpretation in terms of their present and future effects on the value and returns to such developer or purchaser.

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