Land Value Capture and Transit Oriented Development (TOD): A Comparative Review of Indian TOD Policies Measures

Abstract

Several Indian metropolitan cities are willing to adopt and explore various methods to implement transit-oriented development (TOD) around their transit stations to reverse the ongoing trend of automobile-oriented urbanization. Implementation of development-based Land value capture (LVC) schemes in emerging middle-income countries asks to understand and adapt to locally-specific favorable macro conditions such as rising real-estate incomes, increasing automobile dependency, and traffic congestion which all together endow to appreciate land values near transit stations or corridors. This paper identifies enabling TOD linked factors and indicators to measure them besides transit investment that may influence Development-based LVC mechanism and TOD based investment in transit station areas or corridors. To achieve the desired study goal, this study identified 13 indicators directly related with six TOD dimensions to evaluate Indian TOD policies formulated at various levels. By doing so, it will determine new innovative funding opportunities available to implement and integrate lacking land-use and transit planning mechanisms and proposing a land-value capture strategy with lacking a clear framework for Indian cities. The study revealed that population densities, particularly employment densities, length of blocks and intersection intensities, electric charging stations, multimodal integration and smart apps provision are largely lacking in the most Indian TOD policies framed. The current ongoing TOD policy formulation is only limited to increase densification by permitting higher than permissible Floor Area Ratio (FAR), providing parking facility and its management, and allowing land-use mix.