Land Price Variability Assessment of a Transport Infrastructure Project in Pabna District, Bangladesh

Abstract

Transport infrastructure development projects play a vital role in improving accessibility, which has dynamic effects on the regional economy as well as increases property values. This research aims to assess the land price variability in control and catchment areas before and after the Dasuria-to-Dhalarchar railway development project in Pabna district, Bangladesh. A set of independent variables was considered to measure the correlation between development project and land price through a questionnaire survey and focus group discussion. The impact of a railway project on land price was determined by the ordinary least squares method, after which the method was justified through Cook’s distance, P-P plot and scatter plot. The data analysis reveals a strong association between land price and distance to a central business district. The data shows that the land price increased significantly after implementation of the railway project with different intensities, as functional characteristics vary among selected stations.