DESIGN AND IMPLEMENTATION OF ESTATE VALUATION MODELLING SYSTEM



This research project material is available: DESIGN AND IMPLEMENTATION OF ESTATE VALUATION MODELLING SYSTEM



Project Category:
Type: Project Materials| Format: Ms Word| Attribute: Documentation and Source codes| Pages: 51 Pages| Chapters: 1-5 chapters| Price: ₦ 3,000.00


Download Chapter One (DOC | DOCX)

Download Chapter One (PDF)



Download complete Chapters



Share this post on:




ABSTRACT

A well-managed estate valuation model would bring about an effective reliable, efficient and accurate valuation mechanism. It also helps restore the confidentiality of property owners. This research with particular reference to estate valuation in the context of Akwa Ibom State Property and Investment Company aims at identifying how various classes of properties are valued, thus, developing a computerised model that will eliminate the  problems that faced in the valuation process. It also seeks to proffer solutions to the manual method used by the establishment in valuating properties with the aid of computers thereby reducing operational bottleneck. Based on this note we decided to develop an Estate Valuation Modelling system, knowing that this will virtualy eliminate myriads of problems associated with the existing manual system of operation in the establishment. The programming language used in the development of this system is JAVA 8.0

 

 

 

 

Chapter one

INTRODUCTION

 

1.0.    Preliminaries

Estate surveying and valuation in Nigeria dates back to the beginning of creation. At creation the first estate was established by God in the Garden of Eden, Adam and Eve were put in charged of it. Thus, Adam and Eve were the first estate surveyors and valuers known to man.

However, the evolution of estates surveying and valuation as a distinct and recognised profession brought about the ever increasing challenge of record keeping, booking, accounting and statistical data analyzes.

Thus, to this end, we are concerned in developing a computerized based system that will be used in the estate valuation practice to eliminate the challenges posed by the present manual method used in the esteem profession.

 

1.1.    Theoretical background

For an object to have value it must be scared related to the demand. In other word it has to be limited in supply related to the demand. If an object is in it ample supply and there is little or no demand for it then in the economic sense the object has no value. For there to be an increase in the value of an object there must be an increase in the demand or a corresponding decrease in the supply. Thus, valuation is the art, science and practices of determining the value of all the description of property and of all the interest therein. The managing and developing of estates and other business concerned with the management of landed property.

Valuation entails securing of the optimal use of land and its associated resources to meet social and economic needs. Determining the structure and condition of buildings and their services and advising on their maintenance, alteration and improvement.  Valuation entails determining the economic use of land resources by means of financial appraisal for building of industries.

The need for an effective, accurate and efficient valuation method is what every estate firm looks for. The increasing state of data, record generation and the implication of such are becoming more evident as challenges are becoming elaborate with frequent technological innovations.

Estate valuation is the process of valuing real property. The value usually sought is the property market value. Selling (whether by auction or otherwise) and buying or letting (as agent) of real and personal property and that of the interest therein. Valuation is a problem solving process in which the influence of sociological, economic, government and physical forces are analysed in relation to the property. Having an effective valuation calculation system is one of the major challenges facing most of our estate valuation firms, yet most of the firms freely admit they have difficulties handling adequately.

The recent development of course has much emphasis to place on the computerised method of estate valuation. These can be accomplished through some discrete skills that can be learnt by people in the estate management profession.

In valuation, no matter how complex or simple the question, the solution requires the interpretation in terms of money, on the influence of economic, sociological , physical and government forces on the specified property.

The scientific solution to valuation problems is crystallised in an automated valuation process.

A change in these valuable tool will require a conscious departure from the traditional practice, especially the use a computerised method in lieu of the manual method, has valuation is the art of estimating the value for a specific purpose of a particular interest in a property at a particular moment time taking into account all the features of the features of the property and also considering all the underlying economic factors of the market, including the range of alternative investment.

It is obvious that the valuation process should be reviewed periodically, and if expectations are significantly different from the pervious estimates, the valuation charges for the current and the future should be adjusted, based on the standard valuation values for the stipulated period.

By studying and outlining the various techniques that can be used for valuing properties and investigating the extent to which they are used in Nigeria, investors and practitioners can gain a better understanding and have a set goal on which based a more convincing judgement on investment action.

With computerised method of estate valuation in place, estate surveying and valuation firms however will onto such a system as a channel for strengthening the contributions to be made.

However, valuation should be seen as a service rendered by the estate valuers called the stewards or the Agents that acts on behalf of the owners or the investors. Thus, the valuers should be men of honour trusted in different fiduciary relationships, thereby explaining the sobriquet attached to the profession of estate valuation.

 

 

1.2.    Statement of problem

As economic of the world globalize and capital becomes more mobile, valuation gains momentum in privatisation, joint ventures, mergers and acquisition, restructuring to create values. The purpose is to computerise the estate valuation methods, access the risk face by professionals in the valuation field, estimating the market price subject to series of assumption, with whatsoever the future occurrence will be, to alleviates the poor practices and explore the good ones.

In the cause of this project the researcher is not only concerned with anticipating what the future occurrence and attempting the desirable ones more likely and the undesirable ones less likely.

 

1.3.    Objective of the study

The main aim of this study is to introduce to the estate valuers and other relevant organisation saddled with valuating of properties, how valuation technique used affects property value and seeks to established a computerise approach for Nigerians in the  estate management fields including other relevant authorities.

However, the computerise valuation modelling system would bring about efficiency, reliability and effectiveness in the valuation system which will replace the manual method presently used. This proposed system would help eliminates the problems associated with the manual method used in the establishment. This will also provide remedies, recommendation and practical guides on how to make the process an effective tool to determine the functionality of properties. 

This study seeks to determine how properties are valued, determine the valuation techniques used in property valuation in Nigeria and ascertain the risk involved in the valuation process and the level of awareness of clients regarding approaches used in valuing their properties.

 

1.4.    Significance of the study

This research work will be of an immense significance to organisation embodied with estate management, in that, it is aim at developing a model, an effective, reliable computerised method of reaching a value for valuated properties, expected to help in property management.

It intends to advance the organisation technology on how to computerised valuation process and show how different valuation techniques affect properties value. This study will also help firms to ascertain the degree of functionality of properties.

To other professional bodies and students this research work will serve as a reference material, people in related field, who might conduct research into related field, will find this research work useful.

The recommendation and some suggested solutions to the problems stated would enhance the management of valuation firms to review some aspect of valuation systems that may affect them.

 

1.5.    Organisation of research

This research work is organised into five chapters with each chapter having it own distinct function; each chapter is sub divided into sections.

Chapter one deals with the general frame work of the study giving insight into the main motivation, statement of problem as relate to this study, the research objectives, the study expectations, organisation of the study and definition of state.

Chapter two contains the outline of the study and the literature review of some of the related studies carried out on property valuation in Nigeria and other countries. This chapter intends to fully investigate what estate valuation are, effect of the environmental factors on property value. It also recommends ways of improving valuation practices.

Chapter three mainly focuses on the design of the study with the purpose of the study being analysed.

Chapter four deals mainly with the system implementation, it contains the system flowchart, analysis of the modules and the choice of programming language.

Chapter five provides the limitation of the study, the summary, recommendation and the conclusion of the study.

 

1.6.    Scope of the Study

Valuation is an embracing topic in the determinant of the value and functionality of a property.  For the purpose of this research work, the researcher shall be limited to estate valuation in the context of Akwa Ibom State Property and Investment Company (APIOC). Reference shall be made to selected documents in the establishment.

 

1.7.    Definition of terms

The definitions here are contextual and adopted for the purpose of this study.

i.            Valuation: Estimation of the capital or rental value of land or buildings at a particular point in time.

ii.          Agent: One who acts for or in a place of another (the principal) by authority from him, one entrusted with the business of another.

iii.        Value: The price at which an asset would trade in a competitive setting.

iv.         Appraisal: A judgement or assessment of the value of something.

v.           Perpetuity: A disposition of property which attempts to make it inalienable beyond certain limit fixed.

vi.                 DiscountrateorCapitalisation:The rate expressed in percentage form at which a future income flow is turned to present value. It shows the different between  the net income  of a property and the capital value.

Citation - Reference

All Project Materials Inc. (2020). DESIGN AND IMPLEMENTATION OF ESTATE VALUATION MODELLING SYSTEM. Available at: https://researchcub.info/project-2471.html. [Accessed: ].

Download Complete Project Material Call: +2347063298784 Hire a Writer



Other Related Topics



DESIGN AND IMPLEMENTATION OF A COMPUTERIZED ACCOUNTING INFORMATION SYSTEM

This research project material is titled "DESIGN AND IMPLEMENTATION OF A COMPUTERIZED ACCOUNTING INFORMATION SYSTEM "

A computerized accounting information system collects, stores and processes financial/economic data for decision making purposes. The study examines the manual (existing system) of book-keeping and accounting in-order to reproduce a system exacly like the manual accounting system, but in a computerized/automated manner. Confronted with the problem of in-adequate book-keeping practices of most small and medium enterprises in Nigeria, the researcher designed a computerized system that is convenient, accurate and user friendly for SME operators to utilize.

Type: Project Materials| Format: Ms Word| Attribute: Documentation and Source codes| Pages: 71 Pages| Chapters: 1-5 chapters

Share this post on:

DESIGN AND IMPLEMENTATION OF AN ONLINE COMPLAINT MANAGEMENT SYSTEM

This research project material is titled "DESIGN AND IMPLEMENTATION OF AN ONLINE COMPLAINT MANAGEMENT SYSTEM"

A complaint takes place when something goes wrong with no one willing to deal with the topic. If a customer fails to express oneself about something that went wrong, the firm stands to lose: an opportunity to improve has been missed. In order to retain existing customers, complaint management should be more than just a system of monitoring customer satisfaction: customers must be encouraged to bring out their concerns in form of complaints.

Type: Project Materials| Format: Ms Word| Attribute: Documentation and Source codes| Pages: 81 Pages| Chapters: 1-5 chapters

Share this post on:

Design and implementation of an online students admission system

This research project material is titled "Design and implementation of an online students admission system"

The ultimate statement of the proposed system is to over come the problems in the existing system and to create effectiveness one of these problems is the stressful and tedious way of finding out who and who qualified for admission. The system is being designed and implemented to use test data its is limited only to the activities that are carried out in the admission department under the student affairs of the institution. After the existence of the new system the next stage is the implementation of the new system implementation is carried out on both software and hardware used in order to ensure the performance of the system. The structure and arrangement of the system and how they are exactly implemented will basically be discussed.

Type: Project Materials| Format: Ms Word| Attribute: Documentation Only| Pages: 35 Pages| Chapters: 1-5 chapters

Share this post on:


About

All Project Materials Inc. is a web based company in assisting and guiding Final Year Students with well researched and quality project topics, project works, research guides and project materials. With our vast data base, students can have access to numerous term papers, Seminar papers, essays and contemporary project topics and materials in each department of their various institutions. Complete Abstract, table of content and chapter 1 is given for FREE on this site for students.

How we Work:
  • Simply browse through our research project library, view our free chapter 1 or table of content or abstract.

  • Place an order to request for complete research material, kindly provide all necessary contact details to enable us reach out to you if need be.

  • Once payment is confirmed, a download code will be sent to you. Which you will have access to download the project materials.

Blog

WRITING SUB-HEADS OF CHAPTER ONE ON THE RESEARCH PROJECT

The following sub-heads are always considered when writing chapter one in research work, all of them from the introduction of the project. They are: 1. Background of the study: this is a discussion that centers on the history of the area of the study to be...

HOW SHOULD THE TABLE OF CONTENT BE?

Researcher must know that the table of content in computer science and other related courses are not the same with other courses. Especially chapter three and chapter four which include research methodology and research design ( for old and new system) and design...

Contact

Student researchers and independent researchers willing to visit our research library and get access to over 25,000+ research projects and journals in hard copies can contact us directly by visiting:

Website:

https://www.researchcub.info

Phone:

+234 70 6329 8784

Email Address:

For enquries: [email protected]

Whatsapp:

+234 70 6329 8784



Copyright © researchcub.info | Terms of Use| Disclaimer| Privacy Policy