IMPACT OF REAL ESTATE AND LAND DEVELOPMENT DUE TO IMPROVEMENT OF TRANSPORTATION–CASE STUDY OF PALLAVARAM- THORAIPAKKAM RADIAL ROAD
Abstract
The relationship between economic development, transportation, and land prices is explored in this research, with a focus on the micro market of Pallavaram in Chennai. The research analyzes data from before and after the development of the Pallavaram Thoraipakkam Road (PTR) to examine its impact on land prices and real estate development. Although land prices have increased, transportation-related issues such as congestion, poor
traffic management, and missing road links persist. The research proposes solutions, such as development rules of the government and concepts like land pooling and land value capture, to address these challenges while ensuring land price parity. These concepts could also be applied in other areas with a potential for standardized development. The research recommends applying the guidelines and development proposals to other stretches of roads in the region to prevent disproportionate growth in land prices.
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DOI: https://doi.org/10.37628/jaip.v9i1.1063
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