ABSTRACT
In the light of the land price changes that have occurred in Lucknow, this chapter explores what has determined prices in the three sectors of land delivery and why it is that public sector colonies have recorded higher average land prices than the private and cooperative sector colonies. It provides an overview of residential location theories and the basic economic principles of supply and demand. The chapter deals with the literature available on other land price determinants. It analyses the role of four major land market factors: namely, plot size, availability of urban services, urban planning and land development legislation. The size of a plot is one of the main determinants of land prices in India. The analyses of various aspects of land price determinants clearly demonstrates that the public sector has more advantages, in the Lucknow land market, in terms of controlling the market, than the private and cooperative sectors.
