IDENTIFICATION OF FACTORS AFFECTING LAND PRICES AROUND THE JAKARTA OUTER RING ROAD 2 CINERE - JAGORAWI TOLL ROAD

• Main Author: Rafi, Ahmad
• Format: Final Project
• Language: Indonesia
• Subjects: Perencanaan wilayah
• Online Access: https://digilib.itb.ac.id/gdl/view/76602
• Institution: Institut Teknologi Bandung

Massive infrastructure planning and development has contributed to increasing land prices and values. The existence of toll roads can increase accessibility to public facilities, jobs, and increase land and property values. Since the inauguration of the Jakarta Outer Ring Road II (JORR II) Toll Road in 2012, the development of toll road projects has been very significant to date. The Cinere-Jagorawi Toll Road itself has 3 sections, namely section 1 of Raya BogorJagorawi, Section 2 of Kukusan-Raya Bogor, and section 3 of Kukusan-Krukut. The CinereJagorawi Toll Road was chosen as the location of the research object because it connects Depok City access with the Jabodetabek area which facilitates the mobility of the surrounding community. Judging from various studies at home and abroad, the availability of toll roads is considered to be able to increase land prices through a spread effect. Increasing the value of the land itself can be utilized with the principle of Land Value Capture (LVC). At present, the effect of the existence of the Cinere-Jagorawi Toll Road on land prices in the vicinity is unknown. This study uses content analysis or literature review to determine the factors that influence land prices based on the Hedonic Pricing Model, Ordinary Least Square (OLS) multiple linear regression analysis to determine the land price model around the CinereJagorawi Toll Road and analysis of the distribution of land prices through GIS. to see the impact of the existence of the Cinere-Jagorawi Toll Road on land prices in the vicinity. The results of the study show that there are 10 variables that affect land prices around the CinereJagorawi Toll Road, namely land area, land ownership, distance to the nearest university, distance to the nearest shopping area, distance to the nearest RTH, distance to the nearest CBD, distance to the nearest toll gate, distance to the nearest bus terminal, distance to the nearest train station, and distance to the nearest government facility. In addition, land areas that are closer to the Cinere-Jagorawi Toll gate have higher land prices compared to land that is far from the Cinere-Jagorawi Toll gate. So, from the results of this study it was found that the influence of the existence of the Cinere-Jagorawi Toll Road on land prices in the vicinity has begun to be seen, even though section 3 of the Cinere-Jagorawi Toll Road is still in the construction stage and is targeted to start operating this year.