Exploring Key Infrastructure Indicators Influencing Residential Property Values: A Delphi Analysis in the National Capital Region of Delhi

Purpose – This study aims to identify and prioritize the key indicators and variables related to integrated physical and social infrastructure that influence residential property values in urban areas. The study develops a validated framework of infrastructure indicators applicable to the National Capital Region (NCR) of Delhi. Design/methodology/approach – A Delphi analysis was conducted with experts from diverse fields, including real estate development, urban planning, civil engineering, sociology and public policy. Two rounds of surveys were conducted using an e-Delphi platform involving 34 experts to consolidate their opinions regarding the importance of infrastructure facilities in residential property. The data obtained from the Delphi survey were analyzed using Cronbach’s alpha to assess the reliability and relevance of the selected variables and indicators. Findings – Based on expert consensus and reliability testing, the initial framework comprising 10 variables and 40 indicators was refined to a final set of 8 variables and 29 indicators. The findings provide a validated framework of physical and social infrastructure indicators influencing residential property values in the NCR of Delhi. Originality/value – The study provides a systematically developed and expert-validated framework integrating physical and social infrastructure indicators relevant to residential property valuation. The framework can be used in future studies to assess the impact of infrastructure facilities on residential property values and residential satisfaction in the NCR of Delhi.