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The Urban Development Minister, Mr Kamal Nath, has asked the National Council for Applied Economic Research (NCAER) to build expertise in the area of ‘land economics', which could, in turn, be leveraged by the Ministry for Urban Planning.
Urban planning
“Land economics is an important aspect in urban planning.
“It addresses issues such as how do you do valuation, issues relating to the Floor Area Ratio, how do you monetise that … I have assigned this to NCAER to set up a division on land economics by the end of the year,” Mr Nath told presspersons on the sidelines of a conference by the Royal Institution of Chartered Surveyors (RICS).
‘Division will work'
Mr Nath said the division on land economics will work for his Ministry.
“It will be a division financed by the Ministry of Urban Development,” he said.
The Minister also unveiled a report by RICS on the future of public-private partnerships.
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