Abstract
Planning decisions related to transportation such as the development of metro-rail networks lead to the development of specific land uses and have an impact on land value (Kilpatrick et al., Journal of Real Estate Research, American Real Estate Society 29, 303–320, 2007). This paper aims to study the change in land use and land value due to metro-rails in Indian cities whenever the said metro-rail is functional or under implementation. The impact is measured at a few nodes, depending on the various stages of metro-rail development. The paper provides evidence of an increase in commercial activity after the metro-rail project and a substantial increment in land value during the project formulation stage due to speculation. This increase in land value is inversely proportional to the distance from the node.
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