The National Sample Survey Organization (NSSO) Report 587 on agricultural land possessed by Indian households suggests that nearly 80% of the agricultural households are self-employed, with most (70%) involved in crop production. According to NABARD, agriculture contributed over 7% of gross capital formation (GCF) during 2019-2020. Beyond production, agriculture also contributes to capital formation. Also, the gross value added (GVA) of agriculture is growing roughly at 3-4% per year. Although agriculture contributes less than 20% to the national GDP, it claims to employ nearly 60% of the population in India. In 2016, India was home to nearly 200 million hectares of cropped land with an average landholding of 1 hectare (2.5 acres approx.) per household. Land stays central to agricultural activities. The ISALP index is based on a hedonic pricing model on a monthly frequency of land listing data and could be treated as a “quality controlled Agri land price Index for India.” Background As more data is generated, ISALPI will be expanded for wider and more granular geographic coverage. Currently, the aggregate of these six states is posited as the National ISALPI. These states offered a critical mass of listings adequate to be included in the index formation. For a meaningful index, we selected data from the six states: Andhra Pradesh, Karnataka, Maharashtra, Tamil Nadu, Telangana, and Uttar Pradesh. The first batch of data included over 6,000 listings across several states of India starting the January of 2019. IIMA agreed to explore the idea of developing an Agri Land Price Index for India based on the SFarmsIndia data. SFarmsIndia agreed to share new land listing data with IIMA on a regular frequency. The MoU laid out the blueprint for a collaborative research project on pricing of Agri Land parcels listed on the SFarmsIndia platform. After several rounds of discussion, SFarmsIndia, a Hyderabad-based Agri Land (Online) marketplace, signed a memorandum of understanding (MoU) with the Indian Institute of Management Ahmedabad (IIMA) on 25 November 2021. It also provides a brief primer on popular indices. This website describes the nature, uses, method, limitations, and potential future works related to the IIMA-SFarmsIndia Agri Land Price Index (ISALPI) launched during the second quarter of 2022. Arun Duggal ESG Centre for Research & Innovation.Brij Disa Centre for Data Science and Artificial Intelligence.Ashank Desai Centre for Leadership and Organisational Development.Centre for Transportation and Logistics.NSE Centre for Behavioral Science in Finance, Economics and Marketing.Business Inflation Expectations Survey (BIES).Misra Centre for Financial Markets and Economy (MCFME).
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The obtained results are used to gauge the impact of bias adjusted predictions on hedonic imputed indices in the case of log-linear hedonic functions with normal distributed errors.ĭownload PDF - Asymptotic Properties of Imputed Hedonic Price Indices The present paper therefore tries to fill the actual knowledge gap by analyzing the asymptotic properties of the most commonly used imputed hedonic price indices in the case of linear and linearizable models. Although widely employed, little research has been conducted to investigate their asymptotic properties and the influence of the econometric model on the parameters estimated by these price indices. In particular, hedonic price indices based on imputed prices have become popular both among practitioners and researchers to analyze price changes at an aggregate level. Hedonic price indices are currently considered to be the state-of-the-art approach to computing constant-quality price indices.
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