Abstract
Urbanization is the phenomenon experienced everywhere in the world at a faster rate after the industrial revolution. A city becomes the centre of industrialization and when it grows, it adds new population. The migration from rural areas is an important feature for the fast growth of cities. The division between urban and rural spaces began to blur with the development of industry, mass transportation and the rising number of private automobiles. The urban and peri-urban growth in India is high for the past three decades. Rapid and random expansion of urban centres along their peripheries is a typical phenomenon of urban landscape. Pune is the one of the fastest growing metropolitan city in India. Every year thousands of people migrate to the city for engaging in economic activity. The City was divided in 16 Pethas which is termed as the core City. The city has transformed from its embryonic form of Peth areas to a huge city of 244 sq.km. With a population of over 3 million. As per the study conducted by Gokhale Institute of Politics and Economics, the in-migrated population of Pune urban agglomeration has increased from 3.1 Lakhs in 1991 to 7.4 Lakhs migrants in 2001 accounting to 13% and 20% of the total population, of which the composition of state migrants is 73% and 65% percent respectively. Such huge population creates burden on the current housing supply of the city which leads to the growth in the peri urban area. Many people wishing to migrate to Pune for engaging in economic activity or for pursuing other interests are unable to do so because living costs in city are high. A more reasonable option for them is to reside in rural areas that are situated just outside city limits like, or in the periphery within city limits. There are also instances of population relocation to peripheral areas of city due to development of planned townships & lower land values. Such population movements and concentration of population, triggered by economic reasons or caused by land speculation, have led to the occurrence of changes and problems in peri-urban (or peripheral urban) areas. These happenings in peri-urban area are highly associated to the extent of accessibility to transportation and associated infrastructure. Accessibility is ‘Ease of reaching’ or more accurately measure of intensity of the possibility of interaction rather than just a measure of ease of interaction. Transportation infrastructure is known to affect the value of real estate property by virtue of changes in accessibility. The impact of transportation facilities is highly localized as well, and it is possible to spill over its effects as a result from the capitalization of accessibility. The developing residential pockets in the periphery of a city have their values highly prone to the transportation accessibility and its variation. The objective of the study is to establish the empirical relationship between the peri-urban housing prices and transportation accessibility. An empirical case study is presented three different peri urban areas of Pune. The effect of transport accessibility on housing prices was evaluated. The analysis took into account a host of variables, including distance from workplace, distance from amenities and transportation cost and made use of various modelling approaches like Correlation, regression and hedonic price model. The hedonic regression model is one of the tools that have been used extensively in analysing the housing market .It gives the direct relation between the variables. The research recommends the planning authorities to conduct scientific studies on accessibility measures and impacts on housing of peri urban area.
