Impact of unique features on land and building cost valuation due to new bus stand,Tirunelveli

IMPACT OF UNIQUE FEATURES ON LAND VALUE AND BUILDING COST DUE TO NEW BUS STAND,TIRUNELVELIS.R.CyrusR.SundareshS.H.Gokul ramT.Mathan kumarS.S.Faizal khan

Guided by Dr.K.Ganesan, B.E (Hons),M.E,Ph.D Professor of civil engineering Project membersTransportation is a non separable part of any society It exhibits a very close relation to the style of life, the range and location of activities.Advances in transportation has made possible changes in the way of living and the way in which societies are organizedIt have a greater influence in the development of civilizationsThis project conveys an understanding of the importance of transportation in the modern society by analysing the development around new bus stand such as increase in the land value and building cost.

INTRODUCTIONTo determine the increase in the Land value in the nearer areas of New Bus Stand from 2002 to 2012To analyze the building cost variation from 2002 to 2012.To compare the Population increase in the respective developing areas.To study the various development in the areas around Tirunelveli New bus stand.OBJECTIVEBefore the arrival of New bus stand all the buses were using the Tirunelveli junction bus stand. A lot of traffic congestions arose which led to the delay in the transportation.Also the size of the old bus stand is not sufficient to accommodate the large number of buses.So, in order to solve the above problems, Tirunelveli New bus stand arose outer the city. WHY THIS NEW BUS STAND CAME? It was opened for public usage from 2003 onwardsIt is located in veinthankulam along the Trivandrum road. All interstate and intrastate buses are using the New bus stand regularly.Various commercial stores,hotels,bookshops, Atm centres etc..Several Thousands of people using this for their regular travel... TIRUNELVELI NEW BUS STAND

New bus stand photographPerumalpuramN.G.O colonyXaviers colonyKulavanigarpuram VeeramanickapuramTrivandram roadBye pass RoadSurrounding developing areas in the New bus standLAYOUT USING GPS

Itis the process of valuingreal property. The value usually sought is the property'sMarket Value. All properties differ from each other in their location which is an important factor in their value. It is used forbankloans, taxes matter etc..,It is used by both parties to set the sale price of the property of land.

LAND VALUATION Physical attributes of land - location; convenience to shopping, schools and parks; availability of water, sewers, public transportation, frontage, topography. The legal or governmental forces - type and amount of taxation, zoning and building laws. The social factors -population growth or decline, attitudes toward law and order and education levels. The economic forces - value and income levels, growth and new construction, vacancy and availability of land. FACTORS THAT CONTRIBUTE TO LAND VALUE

Sales Comparison MethodData collection MethodAllocation MethodAbstraction Method Land Build-up Method

METHODS OF LAND VALUATIONNMAE OF PLACES2002-20032003-20072007-20122012Rate /sq.ftRate /sq.ftRate /sq.ftRate /sq.ftTRIVANDRUM ROAD2472987851375N.G.O. A Colony123150400687N.G.O. B Colony 134163400920PERUMALPURAM123150200232KULAVANIGARPURAM124147165455VEERAMANICKAPURAM112136150232XAVIER COLONY--400455BYE PASS ROAD1181634001143GOVT. GUIDELINE LAND VALUESGRAPH SHOWING INCREASE IN LAND VALUE (2002-2012)YEAR200220042006200820102012AREAVALUERs/sq.ftRs/sq.ftRs/sq.ftRs/sq.ftRs/sq.ftRs/sq.ftTrivandrum road21035050086017203440Perumalpuram17029040069013702750Xavier colony11022035057011002250NGO colony1152303505509201900Kulavanikarpuram90150210350690920Veeramanikapuram80130190340670910MARKET LAND VALUESGRAPH SHOWS INCREASES MARKET LAND VALUESCost estimating is a well-formulated prediction of the probable construction cost of a specific building project.It is a tool for determining required funding and to gauge the needs of a project.The cost estimate is prepared by breaking down the items of work using a standard format and determining the cost of each item from experience and a database of current construction cost information.BUILDING COSTMaterials costLabour costTransportation chargesHandlings costMachinery charges

FACTORS CONTRIBUTING THE BUILDING COST18COST FROM RECORDCOST BY DETAILED MEASUREMENTCOST BY PLINTH AREA BASISMETHOD FOR DETERMINING THE BUILDING COSTTOPO PLAN

PLAN OF THE RESIDENTIAL BUILDING

YEARSPlinth area(Sq.ft)Building cost(Rs)Rs /Sq.ft2003-200431221549762.974802006-200731222046910.516552011-201231223519162.81127 BUILDING COST (PWD)S.NoYearCost(Rs/sq.ft)120045502200665032008800420101100520121500MARKET BUILDING COST GRAPH SHOWING MARKET RATE BUILDING COSTNMAE OF PLACES20012011MALEFEMALECHILDTOTALMALEFEMALECHILDTOTALPERUMALPURAM596561218241291088409533145419827NGO COLONY532762546341221571858167108516437KULAVANIKARPURAM3054325623465444859483494910642VEERAMANIKAPURAM42562958624783867955225147313493POPULATION AROUND NEW BUS STANDGRAPH SHOWS POPULATIONTrivandrum roadNew bus stand is located along the trivandrum road only.Present cost of the land value in this area is Rs.1355/Sq.ft(govt) and Rs 3440/Sq.ft- (market) Present development in this area are Anna university, Tirunelveli, Laura INN,Big Bazaar (Construction going on), Sundari complex, Apartments etc.This area is the Maximum developed area near the New bus stand.It is a fastest commercial developing area.

RESULTS AND DISCUSSION

Trivandram Road Map-2003:

Trivandram Road Map-2011:

N.G.O colony is located 1km away from New bus stand.Cost of the land value in this area is Rs.920/Sq.ft(govt) and Rs 1900/- Sq.ft (market).Lot of Govt. office building such as R.T.O office, Income Tax, P.F office etc. are there in N.G.O colonyWith the influence of New bus stand & Govt office ,large no of residential building and appartments arise there.

N.G.O ColonyN.G.O A Colony Map-2003:

N.G.O A Colony Map-2011:

N.G.O B Colony Map-2003:

N.G.O B Colony Map-2011:

It is located 0.5km away from New bus stand.Cost of the land value in this area is Rs.455/Sq.ft(govt).Rs 2250/- Sq.ft (market)It is one of the recently developing residential colonies after 2007Development is due to nearer location like Melapalayam, Byepass road, New bus standPresent development in this area are passport office, Restaurant, boss hospital, Apartments, church etc.

Xavier colonyXavier Colony Map-2003:

Xavier Colony Map-2011:

It is located 0.5km away from New bus stand.Cost of the land value in this area is Rs.455/Sq.ft(Govt.) & Rs.2750/Sq.ft (market)Before the New Bus stand,there is some development due to the development of Palayamkottai.Various public needs such as police station, post office,sundari appartments, sarah tucker college, state bank of india, kartheek blood bank,IOB bank, church, EB office,shopping complex, swimming pool etc are there which leads to the high development.Because of vast development in this areas in few years,this area favours public utility.

Perumalpuram

Perumalpuram Map-2003:

Perumalpuram Map-2011:

These two areas are located along the Ambai Road.The present land value of Kulavanigarpuram is Rs.500/Sq.ft(Govt) and Rs.920/Sq.ft(Market)The present land value of Veeramanikapuram is Rs.232/Sq.ft(Govt) and Rs.910/Sq.ft(Market)These two areas are the least developed area nearer to the new bus standThe Reason is that the majority of peoples in this are village people only,Due to this,the land buyers are not interested to buy plots from this area and the land value increases gradually.Kulavanigarpuram & Veeramanikapuram:Kulavanigarpuram & Veeramanikapuram Map-2003:

Kulavanigarpuram & Veeramanikapuram Map-2011:

By analysing the data ,the land value is very high nearer to the New bus stand areas, and it gradually decreases towards outwards.Due to the presence of New bus stand only, various developments like commercial area ,Residential area,Hospitals etc..taken place within this 10 years.Finally,If such New Bus Stand project proposal comes at any places,Government must do it to see a marvelous development like this.Conclusion: THANK YOU