Land Price, Bubbles and Permit Raj

Gurbachan Singh
  • Review of Market Integration, April 2016, SAGE Publications
  • DOI: 10.1177/0974929216683115

Land price in India

What is it about?

The market price of land in India is high. This is in comparison to the intrinsic or fundamental value. It is also in comparison to the market price of land in developed countries. Why? This paper explains the reasons.

Why is it important?

Land is the most important asset in India. Its value matters. Also, possible changes in the market price of land in future matter for an investor's wealth and consumption. They also matter for macroeconomic and financial stability. They are also important for huge number of farmers who depend on land.

Perspectives

Gurbachan Singh

I have observed land prices in India for a long time. I have been trying to understand these in relation to prices of other assets. The Economics profession in India does not pay much attention to land pricing. It is also hardly covered in Economics syllabus. My paper serves two purposes. First, it is an academic exercise. Second, it bridges a gap in Economics as it relates to India.

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http://dx.doi.org/10.1177/0974929216683115

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