Start Submission Become a Reviewer

Reading: Impact of Zoning and Archaeological Legislation on Land Values in Kandy Municipal Council Ar...

Download

A- A+
Alt. Display

Research Articles

Impact of Zoning and Archaeological Legislation on Land Values in Kandy Municipal Council Area: A Hedonic-type Analysis

Authors:

R. M. H. Rathnayaka,

University of Peradeniya, Peradeniya, LK
About R. M. H.
Postgraduate Institute of Agriculture
X close

D. V. P. Prasada

University of Peradeniya, Peradeniya, LK
About D. V. P.
Department of Agricultural Economics and Business Management, Faculty of Agriculture
X close

Abstract

Land values are important considerations for land use and development planning. Using data on land values recorded at the Government Valuation Department (Central regional office), this study investigated factors affecting land values of Kandy municipal area for the period 1980 to 2015, with a particular focus on testing the impact of zoning and archaeological regulations on land value. To derive inferences, we estimated hedonic-type models, which is a standard technique for analysis of land and property values, on a sample of 169 randomly selected land parcels in Kandy municipal area. Among the key findings, we observed that the impact of urban development zoning law on the value per perch was LKR 1,085,075 while the impact of archeo02logical regulation on the value was LKR 322,420 per perch within the municipal limits. Both zoning regulations and carpet road access created robustly positive impacts on land values, across several specifications including a model that included land values adjusted for inflation.
How to Cite: Rathnayaka, R.M.H. and Prasada, D.V.P., 2020. Impact of Zoning and Archaeological Legislation on Land Values in Kandy Municipal Council Area: A Hedonic-type Analysis. Tropical Agricultural Research, 31(3), pp.48–59. DOI: http://doi.org/10.4038/tar.v31i3.8396
Published on 30 Jun 2020.
Peer Reviewed

Downloads

  • PDF (EN)

    comments powered by Disqus