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As a result of the continuous conversion of UGS to multiple land uses, ecosystem services are under threat. The concern of developing and growing UGS often boils down to improper finance management and allocation, specifically in the maintenance stages. Hence the research investigates the existing planning and regulating framework of UGS of Ahmedabad. It explores current models used by the local government to harness the economic benefits of green spaces. The research further provides a regulatory framework for the improvement of the economic value of urban green spaces in Ahmedabad. The purpose of this study is to estimate the direct economic value of selected parks/gardens in Ahmedabad at three levels: city level, zonal level, and neighbourhood level through a detailed analysis of various benefits of the parks. For each site, the institutions involved in the operation and maintenance along with their challenges will be identified.