Web Based Land Valuation System in Infrastructure Planning in India: An Approach

Dutta, Bikram Kumar (2015) Web Based Land Valuation System in Infrastructure Planning in India: An Approach. REAL CORP 2015. PLAN TOGETHER – RIGHT NOW – OVERALL. From Vision to Reality for Vibrant Cities and Regions. Proceedings of 20th International Conference on Urban Planning, Regional Development and Information Society. pp. 703-710.

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Government organizations in developing counteries all over the world that are responsible for infrastructure development and government is responsible for land acquisition as well as prepare the detailed project report with the help of consultants where as the private sector responsibility is to develop the infrastructure through private public partnership. The infrastructure development may be to built roads, dams, airports ect. The examples of land holding are freehold, leasehold, common hold interests and government holdings. The property interms of land and structure can be compulsorily acquired by government for development activities. Although the matter differs from country to country, if a property owner is affected due to compulsory acquisition, compensation can be claimed for any land acquisition is injurious affection (severance) caused and for disturbance. The legal basis of the right to claim compensation in these respects may differ as the statutory regulations and circumstance prevailed in each country. Proper valuation of and compensation for lost assets are crucially important counteractions to mitigate impoverishment risks for affected persons. The Government of India recognizes the need to compensation of loss where displacement is inevitable, the need to handle with utmost care and forethought issues relating to Resettlement and Rehabilitation (R&R) of Project Affected Families (PAF) and formulate R&R Policies as named as TheRight to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013. Now the question is how to valuate market price. Economic market principles determine what value any commodity will have at a particular point in time. If there is a plentiful supply of a commodity and little or no demand, the price of the commodity is likely to be low, whereas, if there is little supply and a great deal of demand, the price will be higher. In the real estate business it is common to assume that the value and potential of a property is fundamentally determined by its location, acces to existing infrastructure and its productivity. Different users of land might be prepared to offer different prices for a piece of land because it offers the potential to earn different amounts of revenue depending on the use to which it is put. So, futurastic usage is also determinants to valuate the market price. Land values and intensity of land use becomes lower when we move away from the center of the city. With lower land values, there is less pressure for high-rise development to maximize usage of the available sites. Establishing the economic area of land use within which a property is located is an essential factor in understanding the economic, social, political and geographical factors that exist and help determine the levels of supply and demand for a particular property type and thus influence its value. The principle of comparison underpins all valuation methods but sales comparison is allways preferred method of valuation. The sales prices of the properties that are judged to be the most comparable ones tend to indicate the range in which the estimated value for the subject property will fall. The degree of similarity or difference between the subject property and the comparable sales is usually established on the following elements of comparison: property rights conveyed, financing terms, conditions of sale, expenditures made immediately after purchase, market conditions (time), location, physical characteristics, economic characteristics, use (zoning), and non-reality components of value etc. This all determinants can be summarised into well access sytem to individual when these information would be disseminate through land revenue department in well structured format. Web based land valuation system is information technology based interface developing system where all determinants of land valuation can be calculated with the each and every parcel of land maps in India. This paper has approached to formulate the interface mechanism for valuation of land for infrastructure planning over periods.

Item Type: Article
Uncontrolled Keywords: information technology, web interface, land value, infrastructure planning, web mapping
Subjects: H Social Sciences > HD Industries. Land use. Labor
Q Science > QA Mathematics > QA76 Computer software
Depositing User: REAL CORP Administrator
Date Deposited: 15 Mar 2016 16:22
Last Modified: 15 Mar 2016 16:22
URI: http://repository.corp.at/id/eprint/33

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