| The URRT began as a layout, ensuring sustainable urban development a strategic decision by change the value of land along the traffic.The core issue of developing urban mass transit is the capital funding. However, the construction of an urban mass transit line will push forward the value adding to real estate along the line. It would be a subject to further study that how to transfer such an external benefit of mass transit into internal benefit.On the base of externality theory, location theory and rent theory, this article is analyzed that the value-added mechanism and law of land along urban rail transit from the qualitative point of view. It defines impact of factors identified through the Urban Mass Transit factors affecting the real estate value and three aspects to influence the value of surrounding real estate. Then it makes an assessable model in advance according to the theory of broad traffic cost and investment principle. Based on the model, the paper assesses the price increase of the buildings around the stations of Wu Han Metro Line2and studies the distribution characteristic of the real estate prices. On the other hand, based on analyses and comparison on existing real estate increment model, according to commercial real own characteristics, the classical exchange theory is modified. The paper combine exchange theory, the generalized traffic cost theory and time value of capital, and establish the mathematical model which is adequate for calculation of commercial real estate value-added.Finally, on the basis of the analysis, the paper analyzes the benefits which is the part of the exceeding, points the direct and indirect ways of the returning the benefits, and it puts forward the countermeasures to internalize the positive externality inter internality, which are as following: Imposing real estate tax and having a joint development by enduing the rail transit company with the developing right along the rail transit line. |
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