Towards the Highest and Best Use of Residential Lands in Low and Medium Density Estates in Lagos

The study focuses on the highest and best use of residential lands in low and medium density estates in Lagos. Two residential estates: Ikeja GRA (low density) and Ajao Estate, Isolo (medium density) are purposively selected as case study. A total of 383 structured questionnaires administered on landlords were used to elicit information on the land and buildings in the Estates. The data collected were analysed with the aid of Multiple Linear Regression. The study found that accommodation units and building type are the significant factors to consider in achieving the highest and best use in low density residential estates. In medium density estates, accommodation units, land cost, plot size and building cost are the factors to consider. Land owners in residential estates are therefore, advised to consider these factors for highest and best use of their lands. DOI: 10.5901/ajis.2014.v3n6p2