The Dynamics of Corridor Evaluation
A corridor is a piece of land between two places. Corridor valuation is a must to know the local existing rates of the land in the market. This way injustice is not done to the land owner as he can be adequately compensated for the acquisition of his land by the Government. Valuation can be referred to as the interrelationship between the property one buys and the properties one sells the piece of land being considered for eminent domain.
land is mainly used for activities that are in larger public interest. These can be constructing highways, or widening roads, constructing other transportation facilities or simply installing a traffic signal etc.Corridor valuation leads to extensive infrastructure development which in turn aids the nation and grows the economy.
More investments are brought in the infrastructure sector, the place where development is undertaken gets a boost as more people prefer a site where transportation facilities are well developed as it helps businesses to proliferate as well.Corridor valuation also puts forward the legal aspect from the government’s point of view so that only the required land is acquired and not more. You can have lot more information revealed here : Inverse Condemnation