Factors affecting land value of urban voids in western part of India

Abstract

Abstract Urban voids are the key determining factors to utilize efficient manner for sustainable development. These areas need to be understood through their land potentials. Land valuation determines the value of urban voids based solely on their natural characteristics. The research papers present a papered examination of land value modeling and its influencing factors. The study concentrates on Jaipur, the capital city of Rajasthan, selected as the research area. The land value modeling process consists of three stages. Initially, various approaches and issues have been identified for land valuation. In the second stage, factors have been identified for land valuation. Lastly, land valuation methods such as the ordinary least squares (OLS) regression have been used. The primary factors influencing land value in the research area include distance to major highways, proximity to schools, railway lines, specific communities, availability of infrastructure, etc. Interestingly, variables such as slum area, landfill, rail line, and proximity to specific communities exhibit an inverse relationship. This research provides valuable insights into the localized variations in land prices within an Indian city.

Keywords

• Urban voids
• Land value
• Ordinary least squares
• Geographic information system
• JMP
• SPSS model