Developing an Efficient Database for Property Valuation in Anambra State, Nigeria (Published)
It has been observed that it takes quite a lot of time to carry out professional real estate valuation practice in Anambra State due to dearth of relevant property market data. This results to undue delays in execution of valuation jobs, even when information and communication technology have made things faster and easier. This has also made many a valuer to carry out property valuation without minding the authenticity and accuracy of sources of market information. Sequel to this, the study developed a database for efficient property valuation in Anambra State. Survey design was used to generate data. A market data generation form was developed in line with professional format, and was used to generate data about property type, location, structural details, condition, accommodation and use, neighbourhood characteristics, market value and date of property transaction. The form aided in developing the database of market transactions in the study area using MySQL (My Structured Query Language) database software package .The result of the study showed that the causes of inaccessibility to property market data are lack of organized records, lack of regular market surveys, use of traditional filing systems and non use of computer technology. Similarly, the research proved that the use of MySQL database system can indeed ensure speed and accuracy of valuation exercises and reliability of valuation figures and opinions. Finally, a customized functional property market database was developed; and the database can be accessed on www.anambrapropertydatabase.com.The study, therefore, recommended that the database should be commercialized. Further studies should be carried out to include specialized properties in the development of this database in the area.
Keywords: DBMS, Database, Information Technology, property valuation