Browsing by Author "Kanojia, Anita (14CEM04)"

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    Effect of Environmental Service by Hedonic Pricing Model
    (International Journal of Engineering Research, 2016-01) Kanojia, Anita (14CEM04); Jadhav, Umesh
    Environmental services refer to qualitative functions of natural non-produced assets of land, water and air (including related ecosystem) and their biota, which implies natural environment providing particular important uses or benefits that can be captured under the concept of “services.” Our objective is to analyze the benefits associated with such environmental services in order to make them more visible. The hedonic pricing method uses the value of a surrogate good or service to measure the implicit price of a non-market good. The basic idea of the hedonic pricing method is that the price of a market good is related to its characteristics or the services it provides rather than the good itself. This article focuses on assessing residential property rate influenced by environmental services by applying hedonic pricing model. It is most commonly applied to variations in housing prices that reflect the value of local environmental attributes. The paper defines Hedonic Pricing method (HPM) and its methodology. Data required that influences the residential property rates will be collected and are analyzed using regression analysis which relates to statistically estimate a function that relates property values to the property characteristics, including the distance to open space. Thus, the effects of different characteristics on price can be estimated. The results can be used to evaluate the variations of property rates for small change in characteristics holding all other characteristics constant. Price prediction model is than prepared.
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    Valuation of residential properties by hedonic pricing method (HPM)
    (International Journal of Engineering Development and Research, 2016) Kanojia, Anita (14CEM04); Magar, Rajendra; Jadhav, Umesh
    Hedonic Pricing Method (HPM) is used for estimating the value of a commodity or the demand for a commodity. The method has been widely used in real estate and housing market research in the recent past. In this report, Estimation of residential market price by Hedonic Pricing Method due to environmental service is discussed. Environmental services is a concept from the ecological economics literature. Environmental services refer to qualitative functions of natural non-produced assets of land, water and air (including related ecosystem) and their biota, which implies natural environment providing particular important uses or benefits that can be captured under the concept of “services.” It undertake an examination of use of this methodology in the recent real estate and housing literature in the preparation of housing predictive model. The idea behind the HRM is that the commodities are characterized by their constitute properties, hence the value of a commodity can be calculated by adding up the estimated values of its separate properties. Data required that influences the residential property rates will be collect.ed and are analysed using regression analysis which relates to statistically estimate a function that relates property values to the property characteristics, including the distance to open space. Thus, the effects of different characteristics on price can be estimated. The results can be used to evaluate the variations of property rates for small change in characteristics holding all other characteristics constant. Price prediction model is than prepared.
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    Valuation of Residential Properties by Hedonic Pricing Method- A State of Art
    (Institute for Research and Development, India, 2016) Kanojia, Anita (14CEM04); Jadhav, Umesh
    The Hedonic Pricing Method (HPM), also known as hedonic Regression method (HRM) and Hedonic Demand Method (HDM) is used in estimating the value of attributes or the demand of attributes. Hedonic goods are analyzed by "Hedonic price model" and it makes possible to calculate the suitability of price indices in the commodity markets. Hedonic attributes involve immovable properties, such as apartment, computers, cars, home things, mobile phones etc. The features of these goods form their prices. Marginal effects of features of attributes in forming the prices of hedonic goods can be determined by this approach. In other words, the parameters obtained from estimating the hedonic price model describes the marginal value of characteristics of goods. The HPM has been widely used in real estate and housing market research in the recent past. The idea behind the HPM is that the commodities are characterized by their constitute properties, hence the value of a commodity can be calculated by adding up the estimated values of its separate properties. In this paper, emphasis is given on case study related to applicability of hedonic Pricing method, its methodology, comparison with other methods and its limitations.