land values affect the urban development and provision of infrastructural facilities - Printable Version

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land values affect the urban development and provision of infrastructural facilities - Manish Jain - 07-28-2016

If land is cheap, then it sends a signal that land is abundant and it can be wasted without fear of bankruptcy, which results in low-density developments. If land is expensive, then it signals developers to build higher densities because land that desirable is rare. Land prices are what motivates high density developments in a housing market with little regulation.

 
The concept of land value may be expressed as the “monetary valuation of land use” or property use, a sort of price which may be designated as rent. In urban areas, the demand for land is a demand for space. It may vary with the structural changes through the allied process of planned development, redevelopment and conversion; and hence, this process may give rise to land values.
The escalating land value has brought immense  pressure for development in most parts of the Indian cities within the city limits and its agglomeration areas. The increase in the value is found mainly along the major economic growth corridors which in turn further inevitability increased the land price in the core areas of the city.  Densely populated Indian city is undergoing this intense pressure for development in housing, industrial and commercial sectors. The land value of the city is mainly directed by the economy, urban sprawl, location, land use, infrastructure availability and land scarcity in the city.


Urban sprawl-the scattering of new development on isolated tracts, separated from other areas by vacant land-is frequently cited as one negative consequence of the development process. The separation of residential areas by vacant land leads to increased costs in providing infrastructure facilities
Residents are forced to travel farther to engage in most activities, using more energy resources and producing more air pollution.
Urban sprawl create formless character of typical urban development
Land values play a critical role in the
Allocation of land, thereby shaping the pattern of development
The desire for accessibility to the urban center might be expected to result in continuous development extending out from that center, since people seek more accessible locations and are willing to pay more for them
An explanation of urban sprawl requires more than expectations of future growth. Given the conventional assumptions, similarly situated landowners should face a common future and should reach the same decisions with respect to development.
 
THE FACTORS AFFECTING LAND VALUE
A. Economic Growth and Urban Sprawl
After 1990 there has been a massive change in the economy of India due to privatization, foreign direct investments, liberalization of trade and industries and better management . The contribution of urban which was 58 % of overall GDP in 2008 may increase to 70 % by 2030
Most of the agricultural lands were converted in plots due to high demand for industrial and residential developments.
B. Increasing Population and Changes in Land use
 The population growth within the city has saturated because the land value is too high and new settlements are formed on the outskirts has increased the price both inner and outer city
C. Location
 Location of an area plays a major role in the value of the land. A land which located within the city without any encumbrance will be higher than the land in the peripheral areas due to the easy accessibility to various physical and social infrastructures. Where ever the major roads are available the land value is high
D. Availability of Infrastructure
 The land value changes based on the availability of infrastructure facilities provided by the urban local bodies, urban development authorities and other service providing agencies for facilities like road, transport, communication, water supply, sanitation, electricity, etc
E. Land Scarcity
The density of population which relates to the built up area shows most of the areas in the city is having more than the average. Data analysis shows the availability of land has been diminishing within the city due to this high population density over the years. This scarcity has created pressure on the land required for amenities to support residential use like the public uses, institutions and social infrastructures and thus increased the land value more in the city

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