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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.
