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

Ramakrishna Nallathiga ()
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Ramakrishna Nallathiga: Programme Manager, Bombay First (Bombay City Policy Research Foundation), Fourth Floor, Y B Chavan Centre, Nariman Point, Mumbai 400021, INDIA

International Real Estate Review, 2006, vol. 9, issue 1, 132-152

Abstract: TThe 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 (search for similar items in EconPapers)
JEL-codes: L85 (search for similar items in EconPapers)
Date: 2006
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Citations: View citations in EconPapers (1)

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