Have a personal or library account? Click to login
Analyzing the Influence of Metro Stations on Commercial Property Values in Delhi: A Hedonic Approach Cover

Analyzing the Influence of Metro Stations on Commercial Property Values in Delhi: A Hedonic Approach

By: Shaleen Singhal and  Yogesh Tyagi  
Open Access
|Dec 2021

References

  1. Agostini, C. A., & Palmucci, G. A. (2008). The anticipated capitalisation effect of a new metro line on housing prices. Fiscal Studies, 29(2), 233–256. https://doi.org/10.1111/j.1475-5890.2008.00074.x10.1111/j.1475-5890.2008.00074.x
  2. Alonso, W. (1964). Location, and land use: Toward a general theory of land rent. Cambridge, Harvard University Press, Cambridge, MA. https://doi.org/10.4159/harvard.978067473085410.4159/harvard.9780674730854
  3. Bartholomew, K., & Ewing, R. (2011). Hedonic price effects of pedestrian- and transit-oriented development. Journal of Planning Literature, 26(1), 18–34. https://doi.org/10.1177/088541221038654010.1177/0885412210386540
  4. Bollinger, C. R., Ihlanfeldt, K. R., & Bowes, D. R. (1998). Spatial variation in office rents within the Atlanta region. Urban Studies (Edinburgh, Scotland), 35(7), 1097–1118. https://doi.org/10.1080/004209898450110.1080/0042098984501
  5. Bowes, D. R., & Ihlanfeldt, K. R. (2001). Identifying the Impacts of Rail Transit Stations on Residential Property Values. Journal of Urban Economics, 50, 1–25. https://doi.org/10.1006/juec.2001.221410.1006/juec.2001.2214
  6. Brennan, T. P., Cannaday, R. E., & Colwell, P. F. (1984). Office rent in the Chicago CBD. Real Estate Economics, 12(3), 243–260. https://doi.org/10.1111/1540-6229.0032110.1111/1540-6229.00321
  7. Cervero, R. (2004). Effects of Light and Commuter Rail Transit on Land Prices: Experiences in San Diego County. Journal of Transpersonal Research, 43, 121–138.
  8. Cervero, R., & Duncan, M. (2002). Transit’s value-added effects: Light and commuter rail services and commercial land values. Transportation Research Record: Journal of the Transportation Research Board, 1805(1), 8–15. https://doi.org/10.3141/1805-0210.3141/1805-02
  9. Chun-Chang, L., Chi-Ming, L., & Hui-Chuan, H. (2020). The impact of mass rapid transit system on neighborhood housing prices: An application of difference-in-difference and spatial. Real Estate Management and Valuation, 28(1), 28–40. https://doi.org/10.2478/remav-2020-000310.2478/remav-2020-0003
  10. Debrezion, G., Pels, E., & Rietveld, P. (2007). The impact of railway stations on residential and commercial property value: A meta-analysis. The Journal of Real Estate Finance and Economics, 35(2), 161–180. https://doi.org/10.1007/s11146-007-9032-z10.1007/s11146-007-9032-z
  11. Duncan, M. (2011). The impact of transit-oriented development on housing prices in San Diego, CA. Urban Studies (Edinburgh, Scotland), 48(1), 101–127. https://doi.org/10.1177/0042098009359958 PMID:2117489510.1177/0042098009359958
  12. Forrest, D., Glen, J., & Ward, R. (1996). The impact of a light rail system on the structure of house prices: A hedonic longitudinal study. Journal of Transport Economics and Policy, 30(1), 15–29.
  13. Gibbons, S., & Machin, S. (2005). Valuing rail access using transport innovations. Journal of Urban Economics, 57(1), 148–169. https://doi.org/10.1016/j.jue.2004.10.00210.1016/j.jue.2004.10.002
  14. Hess, D. B., & Almeida, T. M. (2007). Impact of proximity to light rail rapid transit on station-area property values in Buffalo, New York. Urban Studies (Edinburgh, Scotland), 44(5-6), 1041–1068. https://doi.org/10.1080/0042098070125600510.1080/00420980701256005
  15. Iacono, M., & Levinson, D. (2009). The Economic impact of upgrading roads. Department of Civil Engineering, University of Minnesota.
  16. Ihlanfeldt, K. R., & Martinez-Vazquez, J. (1986). Alternative value estimates of owner-occupied housing: Evidence on sample selection bias and systematic errors. Journal of Urban Economics, 20(3), 356–369. https://doi.org/10.1016/0094-1190(86)90025-210.1016/0094-1190(86)90025-2
  17. Ko, K., & Cao. X. J. (2013). The Impact of Hiawatha Light Rail on Commercial and Industrial Property Values. Journal of Public Transportation, 16(1), 47–66. https://doi.org/10.5038/2375-0901.16.1.310.5038/2375-0901.16.1.3
  18. Kim, J., & Zhang, M. (2005). Determining Transit’s Impact on Seoul Commercial Land Values: An Application of Spatial Econometrics. International Real Estate, 8, 1–26. https://doi.org/10.53383/10005810.53383/100058
  19. Lancaster, K. J. (1966). A New Approach to Consumer Theory, Journal of Political Economy. University of Chicago Press, U.S., vol. 74, pp. 132-132.
  20. Landis, J., & Loutzenheiser, D. (1995). BART Access and Office Building Performance. Institute of Transportation Center, University of California, U.S.
  21. McMillen, D., & McDonald, J. (2004). The reaction of House Prices to a New Rapid Transit Line: Chicago’s Midway Line, 1983–1999. Real Estate Economics, 32, 463–486. https://doi.org/10.1111/j.1080-8620.2004.00099.x10.1111/j.1080-8620.2004.00099.x
  22. Mills, E. S. (1992). Office rent determinants in the Chicago area. Real Estate Economics, 20(2), 273–287. https://doi.org/10.1111/1540-6229.0058410.1111/1540-6229.00584
  23. Mohammad, S. I., Graham, D. J., & Melo, P. C. (2017). The effect of the Dubai Metro on the value of residential and commercial properties. Journal of Transport and Land Use, 10, 1–25.
  24. Muth, R. F. (1969) The Spatial Pattern of Urban Residential Land Use. Cities and housing, University of Chicago Press, U.S
  25. Nelson, A. C. (1999). Transit stations and commercial property values: A case study with policy and land-use implications. Journal of Public Transportation, 2(3), 77–95. https://doi.org/10.5038/2375-0901.2.3.410.5038/2375-0901.2.3.4
  26. Rosen, S. (1974). Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition. Journal of Political Economy, 82(1), 34–55. https://doi.org/10.1086/26016910.1086/260169
  27. Ryan, S. (1999). Property Values and Transportation Facilities: Finding the Transportation-Land Use Connection. Journal of Planning Literature, 13(4), 412–427. https://doi.org/10.1177/0885412992209248710.1177/08854129922092487
  28. Ryan, S. (2005). The value of access to highways and light rail transit: Evidence for industrial and office firms. Urban Studies (Edinburgh, Scotland), 42(4), 751–764. https://doi.org/10.1080/0042098050006035010.1080/00420980500060350
  29. Shankar, A. (2015). National Director & Head. Report on Urban Solutions (Strategic Consulting). JLL.
  30. Tomal, M. (2019). The Impact of Macro Factors on Apartment Prices in Polish Counties: A Two-Stage Quantile Spatial Regression Approach, Real Estate Management and Valuation, 27(4), 01-14. https://doi.org/10.2478/remav-2019-003110.2478/remav-2019-0031
  31. Wai Chung Lai, L. (1991). The Effect of MRT on Land Values Rekindled. Journal of Property Valuation and Investment, 9(2), 123–136. https://doi.org/10.1108/1463578911003085910.1108/14635789110030859
  32. Weinberger, R. (2001). Light rail proximity: Benefit or detriment in the case of Santa Clara County, California. Transportation Research Record: Journal of the Transportation Research Board, 1747(1), 104–113. https://doi.org/10.3141/1747-1310.3141/1747-13
  33. Yiu, C. Y., & Wong, S. K. (2005). The effects of expected transport improvements on housing prices. Urban Studies (Edinburgh, Scotland), 42(1), 113–125. https://doi.org/10.1080/004209804200030972010.1080/0042098042000309720
  34. Tyagi, Y., & Singhal, S. (2018). Analyzing the Influence of Metro Rail Ridership on Group Housing Property Prices in Delhi. Real Estate Finance Journal, 35, 191–213.
Language: English
Page range: 10 - 22
Published on: Dec 17, 2021
In partnership with: Paradigm Publishing Services
Publication frequency: 4 issues per year

© 2021 Shaleen Singhal, Yogesh Tyagi, published by Real Estate Management and Valuation
This work is licensed under the Creative Commons Attribution 4.0 License.