Open AccessHighest and Best Use Analysis in Micro-Market of Dombivli
Author(s) -
Oshin Kaul,
Vishwas Nagi,
Shekhar Nagargoje
Publication year - 2019
Publication title -
iibm's journal of management research
Language(s) - English
Resource type - Journals
ISSN - 2395-5147
DOI - 10.33771/iibm.v4i1-2.146
Subject(s) - real estate , context (archaeology) , jurisdiction , corporation , business , relevant market , position (finance) , estate , property market , economics , finance , geography , law , market economy , political science , archaeology , monopoly
Kalyan-Dombivli is a twin city within the Thane district and forms the "Peripheral Central Suburbs" of Mumbai. Dombivli is a town in Kalyan tehsil and falls under the jurisdiction of Kalyan-Dombivli Municipal Corporation (KDMC). Highest and Best Use Analysis was conducted for the micro-market Dombivli using six step market analysis process. This study focuses on being able to understand the real estate market dynamics in the given context of the chosen micro-market. This allows one to make an informed decision about the most profitable use the site can be put to and its competitive position among the various market participants. The site chosen is hypothetical in nature. The study makes use of primary and secondary data for the various rationales presented in it. It was observed that there is a dearth of affordable properties, Grade A commercial spaces, organized retail spaces (malls) in the city despite an oversupply of residential housing. The inferences and recommendations are based on several scientific methodologies of urban economics and market study. The major conclusion drawn among them all was that, mixed use of the property (Commercial/Residential mix and Commercial/ Retail mix) would bring in the highest returns.