In a first, IIM-Ahmedabad brings out agriculture land price index

What is the News?

IIM-Ahmedabad(IIM-A) has joined hands with SFarms India (an e-marketplace for agricultural land) to launch a farm land price index called IIM-Ahmedabad SFarmsIndia Land Price Index (ISALPI).

What is IIM-Ahmedabad SFarmsIndia Land Price Index (ISALPI)?

Launched by: IM-Ahmedabad(IIM-A) and SFarms India (an e-marketplace for agricultural land).

Purpose: The index has been designed to record and present the “quality-controlled” data on prices of agricultural land in the country.

The index will track the price movements in the marketplace and come up with a composite pricing mechanism on a monthly basis which will be updated twice a year.

Pilot Launch: The index has been started on a pilot basis in Andhra Pradesh, Karnataka, Maharashtra, Tamil Nadu, Telangana, and Uttar Pradesh.

Significance of the index: The index will be a reliable source in benchmarking land prices in rural and semi-urban areas and help in signalling converting agricultural land into real estate.

– Moreover, the index can also be used by local governments to compensate people who lose land for highway expansion.

Source: The post is based on the article “In a first, IIM-Ahmedabad brings out agriculture land price index” published in Business Standard on 3rd June 2022.