Land Value Capture Modeling in Commercial and Office Areas using a Big Data Approach
Infrastructure development in Indonesia creates massive impacts on the economy. The Light rail transit (LRT) of greater Jakarta (Jabodebek) project has been estimated to have cost more than 29 trillion rupiahs due to land acquisition and route planning. The urban transit development may impact t...
| Main Authors: | , , , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Universitas Indonesia
2019-11-01
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| Series: | International Journal of Technology |
| Subjects: | |
| Online Access: | http://ijtech.eng.ui.ac.id/article/view/3640 |
| _version_ | 1797970719329484800 |
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| author | Mohammed Ali Berawi Nyoman Suwartha Fathiya Salsabila Gunawan Perdana Miraj Roy Woodhead |
| author_facet | Mohammed Ali Berawi Nyoman Suwartha Fathiya Salsabila Gunawan Perdana Miraj Roy Woodhead |
| author_sort | Mohammed Ali Berawi |
| collection | DOAJ |
| description | Infrastructure development in
Indonesia creates massive impacts on the economy. The Light rail transit (LRT) of greater Jakarta
(Jabodebek) project
has been estimated to have cost more than 29 trillion rupiahs due to land
acquisition and route planning. The urban transit development may impact to the price of property including
residential, commercials and offices along the route. This research aims to
determine variables affecting the price elasticity of property and the correlation to station proximity. Data
mining through web scrapping was used to assess the degree of correlation
between price elasticity and station location. The result shows that approximately 13% of the
commercial property was spread over a distance of 1 km from the LRT station. The closer a property to transit station,
the price will be twice cheaper compared to those located further. The findings also
show variables that highly
contribute to
property prices including schools, hospitals, and proximity to some of transit
stations located in city center of Jakarta and building density. |
| first_indexed | 2024-04-11T03:21:27Z |
| format | Article |
| id | doaj.art-75206e01c325475aba04f2e268066ac7 |
| institution | Directory Open Access Journal |
| issn | 2086-9614 2087-2100 |
| language | English |
| last_indexed | 2024-04-11T03:21:27Z |
| publishDate | 2019-11-01 |
| publisher | Universitas Indonesia |
| record_format | Article |
| series | International Journal of Technology |
| spelling | doaj.art-75206e01c325475aba04f2e268066ac72023-01-02T08:45:44ZengUniversitas IndonesiaInternational Journal of Technology2086-96142087-21002019-11-011061150115610.14716/ijtech.v10i6.36403640Land Value Capture Modeling in Commercial and Office Areas using a Big Data ApproachMohammed Ali Berawi0Nyoman Suwartha1Fathiya Salsabila2Gunawan3Perdana Miraj4Roy Woodhead5Department of Civil Engineering, Faculty of Engineering, Universitas Indonesia, Kampus UI Depok, Depok 16424, IndonesiaDepartment of Civil Engineering, Faculty of Engineering, Universitas Indonesia, Kampus UI Depok, Depok 16424, IndonesiaDepartment of Civil Engineering, Faculty of Engineering, Universitas Indonesia, Kampus UI Depok, Depok 16424, IndonesiaDepartment of Civil Engineering, Faculty of Engineering, Universitas Indonesia, Kampus UI Depok, Depok 16424, IndonesiaDepartment of Civil Engineering, Faculty of Engineering, Universitas Indonesia, Kampus UI Depok, Depok 16424, IndonesiaBusiness Operation Systems, Sheffield Business School, Sheffield Hallam University, 38 - 40 Howard Street, Sheffield S1 1WB, United KingdomInfrastructure development in Indonesia creates massive impacts on the economy. The Light rail transit (LRT) of greater Jakarta (Jabodebek) project has been estimated to have cost more than 29 trillion rupiahs due to land acquisition and route planning. The urban transit development may impact to the price of property including residential, commercials and offices along the route. This research aims to determine variables affecting the price elasticity of property and the correlation to station proximity. Data mining through web scrapping was used to assess the degree of correlation between price elasticity and station location. The result shows that approximately 13% of the commercial property was spread over a distance of 1 km from the LRT station. The closer a property to transit station, the price will be twice cheaper compared to those located further. The findings also show variables that highly contribute to property prices including schools, hospitals, and proximity to some of transit stations located in city center of Jakarta and building density.http://ijtech.eng.ui.ac.id/article/view/3640commercial propertydata miningland value capturelrttransit-oriented development |
| spellingShingle | Mohammed Ali Berawi Nyoman Suwartha Fathiya Salsabila Gunawan Perdana Miraj Roy Woodhead Land Value Capture Modeling in Commercial and Office Areas using a Big Data Approach International Journal of Technology commercial property data mining land value capture lrt transit-oriented development |
| title | Land Value Capture Modeling in Commercial and Office Areas using a Big Data Approach |
| title_full | Land Value Capture Modeling in Commercial and Office Areas using a Big Data Approach |
| title_fullStr | Land Value Capture Modeling in Commercial and Office Areas using a Big Data Approach |
| title_full_unstemmed | Land Value Capture Modeling in Commercial and Office Areas using a Big Data Approach |
| title_short | Land Value Capture Modeling in Commercial and Office Areas using a Big Data Approach |
| title_sort | land value capture modeling in commercial and office areas using a big data approach |
| topic | commercial property data mining land value capture lrt transit-oriented development |
| url | http://ijtech.eng.ui.ac.id/article/view/3640 |
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