ANNOUNCEMENTS
This thesis explores the relationship between urban green spaces and property values in Noida, India, aiming to elucidate the economic and social implications of investing in green infrastructure. The study begins by highlighting the significance of urban green spaces in enhancing quality of life and property values, laying the groundwork for investigation. The objectives include examining the correlation between well-maintained green areas and property prices, and deriving policy recommendations to foster inclusive urban development
Methodologically, the study conducts a primary survey amongst different sectors in Noida to assess the resident’s perceptions of green spaces’ impact on the property prices as well as neighborhood quality of life, employing regression analysis on the cross-sectional data to analyze the relationship between the green space quality and property values. Despite the limitations of cross-sectional data and potential endogeneity, the findings reveal a significant positive correlation between green space quality and property prices, affirming the existence of a "green premium." Notably, the study uncovers complex interactions between property price categories, quality of green space and other key variables, emphasizing the economic importance of green infrastructure in urban environments.
Implications for policy underscore the need for policies that support the maintenance of high-quality green spaces while addressing affordability concerns. Integrating affordable housing projects into green space design can promote social equity and enhance the overall urban living environment. The study's findings offer valuable insights for urban planning and development, providing a basis for informed decision-making to create sustainable, equitable, and livable cities. By leveraging these insights, policymakers can prioritize the conservation and enhancement of green spaces, ultimately fostering vibrant, resilient, and inclusive urban environments for future generations.
