IMPACT OF LOCATIONAL ATTRIBUTES ON HOUSING PRICE: A HEDONIC ANALYSIS IN DIMAPUR TOWN, NAGALAND (INDIA)

Housing demand and its market price (rent) is inclined by several factors such as its construction cost and buyers’ assessment of the housing unit’s innate characteristics including locational attributes. Thus, price of residential buildings vary across time and space even if construction costs may be similar, depending upon the distinctive characteristics of the houses as well as on the inclinations of the prospective buyers and their means. This research tries to examine the impact of locational attributes on housing price and its demand of the residents in Dimapur town of Nagaland state, India. The study reveals that in a small town like Dimapur, it is not the distance to particular place of regular visit but the average distance to places of regular visit like workplace, market, children’s school, etc. which impact the housing price (or rent) significantly