Transportation Infrastructure: Spillover Effects of Transport Infrastructure and Land Value Capture in Mumbai Metropolitan Region

As global urbanization surges, the criticality of robust infrastructure is spotlighted. Urban centers face an immense infrastructure challenge. Transport systems significantly influence economic dynamics. Improved transportation fosters mobility, spurring trade and subsequent economic growth. Developing nations like India rely heavily on enhanced transport networks. Positive nexus between transport investment and economic development is learnt since long. However, existing literature made us understand that the spillover effect of transportation infrastructure on economic growth can be either positive, negative or neutral, as in some cases transportation infrastructure does not pose any spatial spillover or mixed spatial spillover effects on economic growth. This study attempts to understand the spillover effect of transport infrastructure in Mumbai Metropolitan Region through some data analysis (Trend Analysis, Difference in Difference and Delphi Survey) and proposes insights into value capture and innovative financing mechanisms. The government needs to capture parts of the increase in economic value to fund new projects.