THE FLOODING EFFECT ON RESIDENTIAL PROPERTY VALUES: A CASE STUDY OF SHOGUNRO RESIDENTIAL ESTATE, AGEGE;LAGOS STATE NIGERIA

This study is aimed at evaluating the impact of flooding on residential property value using Shogunro Residential Estate, Agege, Lagos State as the case study. To achieve the aim of the study, data were collected through questionnaire instrument administered on both the residents of the estate and registered Estate Surveying and Valuation firms having their offices located within the vicinity of the estate. While sixty-one (61) questionnaires were administered on the residents out of which 58 (95%) were retrieved, a total of 45 questionnaires were given to estate surveying and valuation firms out of which 30 (67%) were returned. The retrieved data were analyzed using descriptive and inferential analytical tools. Findings from the study revealed the major cause of flooding in the estate to be due to illegal of structures across drainage channels in the area. The study further revealed that flooding does not have measurable impact on the prices of properties within the estate. The study recommends demolition of illegal structures built across the drainage channels within the vicinity of the estate and infact all over the state by the state Town and Country Planning Authority and discouragement of further act in the state