Dr. Binoy B V
@nitc.ac.in
Research Associate, Department of Architecture and Planning
NIT Calicut
RESEARCH INTERESTS
Geographic Information Systems, Remote Sensing, Urban Planning, Spatial Econometrics, Spatial Modeling, Disaster Management
Scopus Publications
Scholar Citations
Scholar h-index
Scholar i10-index
Scopus Publications
K. Chithra, B. V. Binoy, and P. Bimal
Springer Science and Business Media LLC
Abinaya Sekar, B V Binoy, Dheeraj Alshetty, Manoj Kumar N, George Kuttiparichel Varghese, and Ravi Varma
Elsevier BV
B.V. Binoy, M.A. Naseer, and P.P. Anil Kumar
Emerald
PurposeProperty tax continues to be the most viable, steady, progressive and genuine source of income for an independent local government administration in India. Kerala has one of the most complex cadastral and property taxation systems in the country. In 2008, the Kerala government introduced “Fair value of land” for all landed property in Kerala, which is calculated per Are and notified by the Government of Kerala on the website. This paper presents the outcome of the spatial mapping of the fair value of land in Kerala and its comparison with actual land value collected through advertisements and surveys.Design/methodology/approachThe methodology used in this study analyzed the existing fair value system of land valuation in Kerala and identified its drawbacks. Fair value is integrated into cadastral data in geographical information system (GIS) and spatially analyzed to identify the discrepancies in fair value fixation. The actual land value for 837 locations is collected from online advertisements and verified through a field survey. A paired t-test analysis follows this to compare the fair value and actual land value of the study area.FindingsThe disparity between the original land value and the registration value in Kerala has resulted in the undervaluation of land resources by the government. The fair value fixed by the government is significantly lower than the actual land value based on the statistical comparison results. It is observed that the actual land value is multiple times higher than the government fixed land value. Also, the spatial distribution of the village level fair value shows the randomness in fixation and abnormalities existing at numerous locations.Practical implicationsThe results indicate that the traditional comparison method used for fair value calculation by the Kerala government is not suitable in Indian scenarios due to the unreliability of registration values. The study thus points to the importance of developing a scientific method for determining the land value that would consider various spatially influencing parameters.Originality/valueThe current study provided an in-depth analysis of the land valuation system of the Kerala government. The strengths and weaknesses of the existing system are analyzed through statistical methods.
Abinaya Sekar, R.S. Jasna, B.V. Binoy, Prem Mohan, and George Kuttiparichel Varghese
Elsevier BV
K. Chithra, B. V. Binoy, and P. Bimal
Springer Science and Business Media LLC
B .V Binoy, M. A Naseer, P.P Anil Kumar, and Nina Lazar
Emerald
Purpose Real estate valuation studies gained popularity with the availability of large-scale property transaction data in the latter part of the twentieth century. Hedonic price modeling (HPM) was the most popular method in the initial years until it was taken over by advanced modeling methods in the twenty-first century. Even though there exist a few literature reviews on this topic, no comprehensive bibliometric analysis is conducted in this area. In view of gaining a better understanding of the dynamics of property valuation studies, this paper aims to conduct a bibliometric analysis. Design/methodology/approach A comprehensive search in the Scopus database, followed by detailed screening resulted in 1,400 articles. The identified research articles spanning over five decades (1964–2019) are analyzed using the open-source R package “bibliometrix.” Findings The study found the USA to be the most productive country in various aspects, such as number of publications, number of authors and publication hotspots. The findings also demonstrate assessments on the publication trends, journals, citations, keywords, co-citation and collaboration networks. It was observed that there exists an upsurge in the number of publications after the year 2000 owing to improved data availability and better modeling techniques. Research limitations/implications This study is significant in understanding the major research areas and modeling techniques used in property valuation. Future studies can incorporate multiple database sources and include more articles. Originality/value The current study is one of the first bibliometric studies on property valuation. Previous studies have not explored the possibilities of geographic information system in bibliometric research. Spatial mapping and analysis of publications provide a geographical perspective of valuation research.
B.V. Binoy, M.A. Naseer, and P.P. Anil Kumar
Emerald
Purpose Land value varies at a micro level depending on the location’s economic, geographical and political determinants. The purpose of this study is to present a comprehensive assessment of the determinants affecting land value in the Indian city of Thiruvananthapuram in the state of Kerala. Design/methodology/approach The global influence of the identified 20 explanatory variables on land value is measured using the traditional hedonic price modeling approach. The localized spatial variations of the influencing parameters are examined using the non-parametric regression method, geographically weighted regression. This study used advertised land value prices collected from Web sources and screened through field surveys. Findings Global regression results indicate that access to transportation facilities, commercial establishments, crime sources, wetland classification and disaster history has the strongest influence on land value in the study area. Local regression results demonstrate that the factors influencing land value are not stationary in the study area. Most variables have a different influence in Kazhakootam and the residential areas than in the central business district region. Originality/value This study confirms findings from previous studies and provides additional evidence in the spatial dynamics of land value creation. It is to be noted that advanced modeling approaches used in the research have not received much attention in Indian property valuation studies. The outcomes of this study have important implications for the property value fixation of urban Kerala. The regional variation of land value within an urban agglomeration shows the need for a localized method for land value calculation.
B V Binoy, M. A Naseer, and P P Anil Kumar
Informa UK Limited
ABSTRACT Land valuation is the process of determining the value of the landed property, excluding all human-made improvements. This paper presents a comprehensive assessment and modelling of the land value and its determinants. Thiruvananthapuram, the capital city of Kerala state, is selected as the study area. Land value modelling applied in this study is divided into three stages. The first stage uses a standard hedonic price model for land value estimation and spatial autocorrelation diagnostics. The spatial error model is appropriate for variable selection and modelling based on Moran’s I and Lagrange Multiplier test statistics in the second stage. The last stage of the study uses the spatial error model for land value analysis, and the results are compared with OLS regression. Proximity to major highways, disaster history, concentration of commercial establishments, and permissible FAR are the major factors affecting land value in the study area. Few other parameters like water frontage and noise pollution have a reverse relationship with similar studies in developed countries. The results indicate that factors influencing land value in Indian cities are different from the European and American cities. The study provides critical insights into the land price variation of an Indian city at a micro-level..
Sheelu Jones, A K Kasthurba, Anjana Bhagyanathan, and B V Binoy
Springer Science and Business Media LLC
Sheelu Jones, A. K. Kasthurba, Anjana Bhagyanathan, and B. V. Binoy
Springer Science and Business Media LLC
Binoy BV, Naseer MA, and Anil Kumar PP
Emerald
PurposeLand value is a measure of the specific features of a property, excluding buildings and other developments. Land value varies depending on the economic, geographic and political aspects of a particular location. The primary purpose of the paper is to identify the general and location-specific attributes impacting property prices in urban Kerala.Design/methodology/approachThe objective of the current study was achieved through a three-cycle Delphi survey and relative importance index (RII) approach. The experts who aided in the survey had a mutual interest in the subject but came from different backgrounds like property valuation, real estate, urban and environmental planning. The initial group of variables identified from the literature was expanded and scrutinized in the first cycle of the Delphi survey. The variables were grouped into five major categories and 13 subcategories based on the literature and expert opinion. In the subsequent stages, the short-listed variables were rated on a seven-point Likert scale until a consensus was attained. The top-ranked variables were identified through the RII method as the critical factors influencing land value in urban Kerala.FindingsThe results indicate that road accessibility and proximity to nuisance sources are the most crucial parameters. The outcome of the study will provide a better understanding of the dynamics of land value and the influencing factors in urban areas.Originality/valuePrevious studies do not give much consideration for the location-specific variability on the influencing parameters. Property management research has not considered the usage of expert opinion and RII for variable selection.