An Evaluation of the Impact of Density Regulation on Land Markets in Mumbai

International Real Estate Review, Vol. 9 No. 1: pp 132-152, 2006

21 Pages Posted: 4 May 2013

Date Written: September 1, 2006

Abstract

The economic justification for regulation of land markets through land use controls and other policy instruments is a well studied subject in developed countries. However, in the recent years, there has been an increasing realisation that the regulation of urban land use and its development has been resulting in some undesirable impacts, in particularly, on the operation of land or property markets, which result in increases in land prices and a reduction in the welfare of people. This paper presents an empirical evaluation of the density regulation impact on land prices in Mumbai city. The study finds that the impact of density regulation is highest on the already highly demanded space in the CBD; also, the impact is significant in the suburbs. The study results, however, need to be interpreted more carefully in the light of other land use and housing regulations already in operation.

Keywords: Land Use Regulation, Density Regulation, Land Market and Land Prices

Suggested Citation

Nallathiga, Ramakrishna, An Evaluation of the Impact of Density Regulation on Land Markets in Mumbai (September 1, 2006). International Real Estate Review, Vol. 9 No. 1: pp 132-152, 2006. Available at SSRN: https://ssrn.com/abstract=2260059

Ramakrishna Nallathiga (Contact Author)

NICMAR ( email )

NICMAR, 25/1, NIA Post Office, Balewadi
Pune, Maharashtra 411045
India
91-20-66859146 (Phone)

HOME PAGE: http://www.nicmar.ac.in

Center for Good Governance ( email )

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Hyderabad, Andhra Pradesh 500033
India
91-40-23541907 (Phone)

HOME PAGE: http://www.cgg.gov.in

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