The National Sample Survey Organization (NSSO) Report 587 on agricultural land possessed by Indian households suggests that nearly 80% of the agricultural households are self-employed, with most (70%) involved in crop production. According to NABARD, agriculture contributed over 7% of gross capital formation (GCF) during 2019-2020. Beyond production, agriculture also contributes to capital formation. Also, the gross value added (GVA) of agriculture is growing roughly at 3-4% per year. Although agriculture contributes less than 20% to the national GDP, it claims to employ nearly 60% of the population in India. In 2016, India was home to nearly 200 million hectares of cropped land with an average landholding of 1 hectare (2.5 acres approx.) per household. Land stays central to agricultural activities. The ISALP index is based on a hedonic pricing model on a monthly frequency of land listing data and could be treated as a “quality controlled Agri land price Index for India.” Background As more data is generated, ISALPI will be expanded for wider and more granular geographic coverage. Currently, the aggregate of these six states is posited as the National ISALPI. These states offered a critical mass of listings adequate to be included in the index formation. For a meaningful index, we selected data from the six states: Andhra Pradesh, Karnataka, Maharashtra, Tamil Nadu, Telangana, and Uttar Pradesh. The first batch of data included over 6,000 listings across several states of India starting the January of 2019. IIMA agreed to explore the idea of developing an Agri Land Price Index for India based on the SFarmsIndia data. SFarmsIndia agreed to share new land listing data with IIMA on a regular frequency. The MoU laid out the blueprint for a collaborative research project on pricing of Agri Land parcels listed on the SFarmsIndia platform. After several rounds of discussion, SFarmsIndia, a Hyderabad-based Agri Land (Online) marketplace, signed a memorandum of understanding (MoU) with the Indian Institute of Management Ahmedabad (IIMA) on 25 November 2021. It also provides a brief primer on popular indices. This website describes the nature, uses, method, limitations, and potential future works related to the IIMA-SFarmsIndia Agri Land Price Index (ISALPI) launched during the second quarter of 2022. Arun Duggal ESG Centre for Research & Innovation.Brij Disa Centre for Data Science and Artificial Intelligence.Ashank Desai Centre for Leadership and Organisational Development.Centre for Transportation and Logistics.NSE Centre for Behavioral Science in Finance, Economics and Marketing.Business Inflation Expectations Survey (BIES).Misra Centre for Financial Markets and Economy (MCFME).CMHS Virtual Healthcare Research Seminar Series 2020-21.Centre for Management of Health Services (CMHS). Centre for Innovation Incubation & Entrepreneurship (CIIE).external factors such as if the neighborhood has a high crime rate and/or is accessible to schools and a downtown area, the level of water and air pollution, or the value of other homes close by). internal factors like its size, appearance, features like solar panels or state-of-the-art faucet fixtures, and condition), as well as characteristics of its surrounding environment (i.e. The most common example of the hedonic pricing method is in the real estate market, wherein the price of a building or piece of land is determined by the characteristics of both the property itself (i.e. Hedonic pricing captures a consumer’s willingness to pay for what they perceive are environmental differences that add or detract from the intrinsic value of an asset or property.Hedonic pricing is most often seen in the housing market, since real estate prices are determined by the characteristics of the property itself as well as the neighborhood or environment within which it exists.Hedonic pricing identifies the internal and external factors and characteristics that affect an item’s price in the market.
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