Available online at www.CivileJournal.org Civil Engineering Journal (E-ISSN: 2476-3055; ISSN: 2676-6957) Vol. 9, No. 10, October, 2023 2535 Land Readjustment Model for Transit-Oriented Development (TOD) Projects: Generating Optimal Financial Benefits Gunawan Saroji 1, 2 , M. Ali Berawi 2, 3* , Dillan Satyagama 2 , Mustika Sari 2 , Bambang Susantono 2 , Roy Woodhead 4 1 Department of Civil Engineering Politeknik Negeri Bengkalis, Sungai Alam, Bengkalis 28734, Indonesia. 2 Center for Sustainable Infrastructure Development (CSID), Universitas Indonesia, Depok 16424, Indonesia. 3 Department of Civil Engineering, Faculty of Engineering, Universitas Indonesia, Depok 16424, Indonesia. 4 Sheffield Business School, Sheffield Hallam University, Sheffield, United Kingdom. Received 11 May 2023; Revised 23 August 2023; Accepted 27 August 2023; Published 01 October 2023 Abstract Transit-Oriented Development (TOD) projects are increasingly recognized as vital components of sustainable urban planning, aiming to create compact, walkable, and mixed-use communities centered around high-quality public transportation systems. However, implementing TOD projects poses significant challenges, especially in land acquisition and redistribution. This research addresses these issues in the context of the MRT Jakarta project and proposes a land readjustment approach as a potential solution. The study combined qualitative and quantitative methods to compare existing and ideal land use in the TOD area and benchmark successful TOD models from different countries. A comprehensive financial analysis was performed to assess the potential financial impacts of the proposed model. The analysis reveals differences between the existing land use in the Fatmawati TOD area and the ideal TOD model, suggesting the need for adjustments to achieve better land use diversity and economic vibrancy. The financial analysis demonstrates positive feasibility for the TOD project, surpassing the minimum attractive rate of return (MARR) threshold. However, the potential value of the reserved area covers only 16% of the total land readjustment (LR) costs, indicating the necessity for further measures to enhance financial feasibility. The study proposes leveraging existing apartment buildings as temporary relocation sites, optimizing resources, and increasing overall financial viability to address substantial relocation costs. Exploring different property redistribution scenarios reveals the importance of balancing landowners' benefits with the developer's financial feasibility for a successful TOD project. Overall, this research provides valuable insights and a comprehensive framework for implementing thriving and sustainable transit-oriented communities in Jakarta. Further research and collaboration among stakeholders are essential to refine the proposed model and ensure successful TOD project implementation in the future. Keywords: Transit-Oriented Development (TOD); Land readjustment; Financial Analysis; Sustainable Urban Planning; Land Acquisition and Redistribution. 1. Introduction Urbanization has emerged as a significant driver for rapid growth in numerous cities worldwide, particularly in developing countries [1, 2]. It has contributed to substantial economic development and the creation of opportunities [3]. However, urbanization poses several challenges that necessitate careful attention and strategic planning. These challenges include the expansion of urban sprawl, which leads to the inefficient use of land and resources, and the * Corresponding author: maberawi@eng.ui.ac.id http://dx.doi.org/10.28991/CEJ-2023-09-10-012 © 2023 by the authors. Licensee C.E.J, Tehran, Iran. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC-BY) license (http://creativecommons.org/licenses/by/4.0/).