Abstract
The Physical improvement of built-up area is one of the hardest issues in city plannning in Japan. For tackling this issue, small-scale Land Readjustment Programme was developed, and a number of projects are materialized under this programme. On the other hand, cooperation with the private sector is promoted by the central government, even in urban regeneration. This paper deals with samll-scale Land Readjustment Projects by the private sectors, and attempts to clarify how effects of the projects can be seen around the project area. From the simulation, effects can be seen on the cost of project by the Hedonic approach; they are inexpensive compare with the public sector's works and are effectively worked for surroundings. Accordingly, it is important to draw up the clear standard based on the situation of the area.
