CONTENTS LIST OF TABLES 7 LIST OF FIGURES 7 LIST OF MAPS 7 1. INTRODUCTION 8 1.1 Background 8 1.2 Need for the study 9 1.3 Aim of the research 9 1.4 Research question 9 1.5 Research objectives 9 1.6 Scope of work 10 1.7 Limitations 10 1.8 Methodology and analytical framework 11 2. LITERATURE REVIEW 12 2.1 Real Estate Market 12 2.1.1 Basic terminology 12 2.1.2 Types of Development 16 2.1.3 Global real estate scenario 19 2.1.4 Real estate scenario in India 23 2.1.5 Key drivers of Indian real estate 28 2.1.6 Real estate cycles in India 31 2.1.7 Demand Supply characteristics 34 2.1.8 Various stakeholders and their roles 36 2.2 Land and property values 37 2.2.1 Theories of land value change 38 2.2.2 Factors influencing property prices 38 2.2.2.1 City level 40 2.2.2.2 Neighborhood level 43 2.2.2.3 Property level 45 2.2.3 Methods and indicators of property value change 47 2.2.4 Other dynamics of the market 48 3. AHMEDABAD CITY PROFILE AND HOUSING 50 3.1 City Profile 50 3.1.1 Historical overview 50 3.1.2 Geographical location 51 3.1.3 Physical Characteristics 52 3.1.4 Urbanization and Demographic status 53 3.1.5 Urban sprawl and growth direction 54 3.1.6 Urban economy 55 3.2 Real estate housing sector in the city 56 3.2.1 Trends that have affected property values 56 3.2.2 Infrastructure development 57 4. PROPERTY PRICES RISE IN AHMEDABAD 60 4.1 Introduction 60 4.2 Framework 61 4.3 Selection criteria 64 4.4 Data collection 70 5. ANALYSIS OF FACTORS LEADING TO PRICE RISE 81 5.1 Regression Testing at Various Levels 81 5.2 Impact of factors on the real estate market 81 5.3 Impact at Various Level 82 5.4 Influencing Factors Leading to Price Rise 83 6. CONCLUSIONS AND RECOMMENDATIONS 84 Bibliography 86 Annexures 87