ASSESSING THE EFFECTS OF URBAN PLANNING ON RESIDENTIAL PROPERTY VALUES IN AGEGE, LAGOS

In urban centres the essence of land use planning is to ensure that urban activities are organised and developed in physical space with due consideration for protection of public interest which include health, safety, convenience, efficiency, energy conservation, environmental quality, social equity, social choice and amenity. With this background, the study examined the effects of land use planning on residential property values using a comparison of two neighbourhoods in Agege Local Government Council Area of Lagos Metropolis. Two groups of respondents were used for the study; the Estate Surveyors and Valuers (29) and residents of New Oko-Oba GRA (120) and Orile Agege (140). Both descriptive and inferential statistical tools were used in analysing the data collected through the questionnaire administered on the respondents. The study revealed that there is significant level of difference in residential property values between the planned and unplanned residential areas. It further revealed that there is a statistically significant relationship between land use planning and property values. The study therefore recommends that government should ensure proper land use planning, while the people should be made to comply with such regulations. Necessary infrastructure should be provided to make conducive living, in the unplanned neighbourhoods possible