• Bharat Mavadiya
• Prof. Ankit S. Patel
• Prof. Jayraj V. Solanki

The availability and affordability of housing play a vital role in meeting the fundamental needs of society. Even the slightest change in the surrounding environment can have an impact on housing prices. Numerous factors contribute to this variation. Among them, one crucial factor is the accessibility benefits offered by the surrounding area, which is essential as people need to commute regularly to meet their personal requirements. In the major cities of India, the most versatile transportation option for daily commuting is the Metro Rail Transit System. Over the past few decades, Gujarat has experienced significant urban development, thanks to improvements in road and highway infrastructure and the introduction of the Metro Rail System as a new mode of public transportation. The main objective of this study is to analyze the influence of the metro rail transit system on the prices of residential properties situated in proximity to metro stations. Numerous factors associated with properties located near metro stations have the potential to affect property values positively or negatively. Therefore, this research aims to identify and rank these attributes, and subsequently develop a model that can forecast property prices based on the selected attributes for properties near metro stations. The forecasting of property prices around metro stations in this study was conducted using the Hedonic Price Method, trend analysis, and a questionnaire survey. The findings indicate that the price of a property situated near a metro station is influenced by several attributes, which have been identified and ranked in this study. Additionally, it was observed that the impact of the metro system is more significant in low-income areas compared to high-income areas. Moreover, as the distance between the property and the metro station increases, the value of the property tends to vary.

Effects of Metro Project, impact Residential area

"Effects of Metro Project near Residential area ", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.10, Issue 6, page no.k315-k324, June-2023, Available :http://www.jetir.org/papers/JETIR2306A38.pdf

"Effects of Metro Project near Residential area ", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.10, Issue 6, page no. ppk315-k324, June-2023, Available at : http://www.jetir.org/papers/JETIR2306A38.pdf