Valuation of Urban Environmental Amenities in Developing Countries: A Case Study from Chandigarh, India

Pradeep Chaudhry
Pradeep Chaudhry *
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Valuation of Urban Environmental Amenities in Developing Countries: A Case Study from Chandigarh, India

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Abstract

Studies related to the valuation of urban environmental amenities like water bodies, green spaces and clean air are very scarce in developing countries. The present study is a first of its kind in India where Hedonic Pricing Method (HPM) has been used to study the impact of key environmental attributes like proximity of an urban lake having good water quality, parks/gardens, clean air and traffic noise attenuation on the market rates of residential plots in a planned city. Two functional hedonic pricing models, double log with weighted least square and ordinary least square, were constructed. Both the models offered comparable and reliable results. Proximity to Sukhna lake of Chandigah city and Leisure valley chain of green spaces raised housing prices by about 10 % and 2 % respectively. Air quality showed significant improvement near green spaces. The study demonstrates that there is significant scope of enhancing government controlled collector rate of urban residential property in areas near to Sukhna lake. The revenue so realized could be ploughed back in conservation efforts of the lake and expanding the green spaces in the city.

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Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

Data Availability

Not applicable for this article.

How to Cite This Article

Pradeep Chaudhry. 2013. "Valuation of Urban Environmental Amenities in Developing Countries: A Case Study from Chandigarh, India". Global Journal of Science Frontier Research - H: Environment & Environmental geology GJSFR-H Volume 13 (GJSFR Volume 13 Issue H2).

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  • CC-BY-ND-NC 4.0
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Journal Specifications

Crossref Journal DOI 10.17406/GJSFR

Print ISSN 0975-5896

e-ISSN 2249-4626

Keywords
environmental amenitiesgreen spaceshedonic price methodresidential property valuationurban forestsurban lake
Classification
GJSFR-H Classification FOR Code: 300801
  • Submission ReceivedJune 17, 2013
  • Peer Review Double Blind
    Handling Editor
  • Accepted July 10, 2013
  • Published July 20, 2013
Version of record

v1.2

Issue date
August 3, 2013

Language
English
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Valuation of Urban Environmental Amenities in Developing Countries: A Case Study from Chandigarh, India

Pradeep Chaudhry
Pradeep Chaudhry
  • Submission ReceivedJune 17, 2013
  • Peer Review Double Blind
    Handling Editor
  • Accepted July 10, 2013
  • Published July 20, 2013