<p>Infrastructure development is crucial for economic development. Infrastructure, both physical and social, enables the functionality of a space, society, and system. The contribution of infrastructure services in economic development is evident through its direct, indirect and multiplier effects, and the rate of economic development is often perceived to be directly proportional to the rate of infrastructure development. In the urban planning context, infrastructure possesses a crucial role of directing land values. Infrastructure services like transportation and utilities provide accessibility and improved connectivity thus enhancing the potential use of land. Land values, thereby reciprocate development and investments in infrastructure, as observed through market trends- land with better infrastructure facilities fetches higher value. Land value can be a testament to the success of infrastructure development, evident through soaring or reducing values based on the type, scale, and accessibility of those infrastructure services. Studying the impacts of infrastructure on land value is crucial for optimising the financial resource management of a city, as realistic land valuation amplifies property tax revenues, enabling effective planning and funding of projects like TOD and Metro rail through betterment levies. While literature establish a strong relation between infrastructure development and land values, it is imperative to investigate it through real-time stakeholders’ perception. In this research, Bhopal, the capital city of Madhya Pradesh state in India, is studied, and the stakeholders are identified in four groups, Academicians and researchers; Urban planners and related field professionals; Developers and Real Estate brokers; and Landowners or tenants. The stakeholders’ perceptions have been fetched through structured questionnaire surveys to derive important factors and their weightages, which further has been mapped spatially. The case of Bhopal was chosen due to the lack of prior research, the mismatch between market and guideline values amid recent infrastructure growth, and its Tier-2 context that allows clearer identification of cause–effect dynamics. The results of the predicted land values, derived through land value modelling using the Hedonic Pricing Model emphasise the need to update conventional valuation methods adopted by the municipal authorities to an efficient factor and location-based land valuation capturing the dynamics of the land market. The findings of the study are pivotal for policymakers, planners, and administrators for efficient city and infrastructure planning while maximising revenue generation to support urban development which is sustainable, equitable, and balanced.</p>