Assessing Land Price Variability Due to Transport Infrastructure Project : A Case Study of Dasuria to Dhalarchar Railway Project in Bangladesh

Transport infrastructure development project plays a vital role in improving accessibility which has dynamic effects on the urban and regional economy and increases property value. The research aims to assess the land price variability in control and catchment areas before and after the Railway project. Therefore, a set of independent variables has been considered to measure the correlation with land price through the questionnaire survey and Focus Group Discussion (FGD). The impacts of a railway project on land price has determined by Ordinary Least Square Method (OLS), after which the method has justified through Cook’s distance, P-P plot and Scatter plot. The data analysis reveals a strong association between land price and distance to CBD. The data portrays that the land price increased significantly after the railway project with different intensities as functional and land use characteristics vary among selected stations. The findings from the data show that the railway station has a clear impact on land price in the catchment area as people are willing to live close to the rail station due to residential and commercial purposes. The research findings will help the city planning authority, and practitioners formulate transit-oriented development plans to make smart and resilient cities