A Dynamic E-Land Pricing Mechanism for Managing Residential Densities in a Medium Sized City in South West, Nigeria (Published)
This paper assesses dynamics of e-Land pricing mechanism for managing residential densities in a medium sized city in South West, Nigeria. Objectives of the research include assessment of e-land pricing interface, land price prediction and e-land pricing reform among others. Total number of buildings in the selected residential estates was counted using GIS and IKONOS Imagery, in Oke Ogba, Obele and Alagbaka with 2,723, 2,117 and 264 buildings respectively all amounting to 10% of the building count in the study area. Regression analysis was used to present, interpret and discuss research findings. The findings showed the main factors responsible for land pricing. The paper developed an electronic pricing interface for pricing policy formulation and implementation. Duly tested, the model was recommended for adaption by Ondo State Government in a joint effort with the land buyers, sellers, families and government to enhance the management of residential densities in the study area.
Keywords: Dynamics, Residential, e-land pricing, factors and policy