Assessing the influence of urban governance hierarchy on real estate development

Abstract

Indian metropolitan cities shows a consistent increase in the rate of Urbanization. Urbanization has led to sparse outgrowth of cities. Employment opportunity has triggered migration in various parts of the country which in turn has increased demand for housing. Development in entertainment industries, economic activities hospitality has resulted into the colossal growth in real estate. It is quite often that we witness asymmetrical real state growth in different part of a city. This might be guided by the influential factors such as locational proximity and locational influence. It is observed that various localities under different Administrative jurisdiction also show varied rate of real estate growth rates. There are theoretical studies which shows contribution of key factors like accessibility, lower land prices and lenient development controls. This research focuses on influence of administrative status as an influencing factor in Real estate development in any area. It also talks about the co relation between the status possessed by different ULB’s and the level of real estate growth. Selecting two ULB of different status located under same metropolitan/planning boundary is compared on various aspects and their influence on the real estate development is assessed.