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An evaluative framework for examining the use of land value capture to fund public transportation projects

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  • Mathur, Shishir

Abstract

The proposed study contributes to the land use policy literature by first reviewing the existing literature to identify a set of major success factors and challenges to the use of land value capture (LVC) to fund public transportation projects. Next, it reviews LVC tools used to fund the metro rail system in Delhi, India—Delhi Metro. Finally, it uses the success factors and challenges identified in the study to present a framework for evaluating whether, how, and how well LVC tools are being used to fund Delhi Metro. This paper finds that several intertwined factors, many related to land use planning and policy, limit the magnitude of LVC revenues. These factors include a lack of consistency between the plans of transit agencies and local governments, that has led to poor planning for transit-oriented development (TOD) inside and around station land; the inability of transit agencies to control land use and zoning for and around the station; and over-reliance on capturing value from new properties instead of from all properties that benefit from the metro system.

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  • Mathur, Shishir, 2019. "An evaluative framework for examining the use of land value capture to fund public transportation projects," Land Use Policy, Elsevier, vol. 86(C), pages 357-364.
    • Handle: RePEc:eee:lauspo:v:86:y:2019:i:c:p:357-364
    DOI: 10.1016/j.landusepol.2019.05.021
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    2. Li, Xinjian & Love, Peter E.D. & Luo, Hanbin & Fang, Weili, 2022. "A systemic model for implementing land value capture to support urban rail transit infrastructure projects," Transportation Research Part A: Policy and Practice, Elsevier, vol. 156(C), pages 90-112.
    3. Mouton, Morgan & Deraëve, Sophie & Guelton, Sonia & Poinsot, Philippe, 2023. "Negotiated windfalls: Mapping how public actors pursue and share land-value capture in Nanterre-la-Folie, France," Land Use Policy, Elsevier, vol. 131(C).
    4. Dunning, Richard J. & Lord, Alex, 2020. "Viewpoint: Preparing for the climate crisis: What role should land value capture play?," Land Use Policy, Elsevier, vol. 99(C).
    5. Yakubu Suleiman & Adeyemi Ajayi & Sule Abass & Ogunbajo Rukaiyyat, 2020. "The Relationship Between Road Infrastructure Budgetary Expenditures and Commercial Property Investment Returns. Case Study of Fadikpe Area Minna, Nigeria," Baltic Journal of Real Estate Economics and Construction Management, Sciendo, vol. 8(1), pages 187-196, January.
    6. Sinha, Meenakshi, 2021. "Harnessing land value capture: Perspectives from India’s urban rail corridors," Land Use Policy, Elsevier, vol. 108(C).
    7. Juhyun Lee, 2020. "Reflecting on an Integrated Approach for Transport and Spatial Planning as a Pathway to Sustainable Urbanization," Sustainability, MDPI, vol. 12(23), pages 1-6, December.
    8. Weihang Gong & Jing (Victor) Li & Mee Kam Ng, 2021. "Deciphering Property Development around High-Speed Railway Stations through Land Value Capture: Case Studies in Shenzhen and Hong Kong," Sustainability, MDPI, vol. 13(22), pages 1-16, November.

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