The courts adopt comparable sales method for valuation of land while fixing the market value of the acquired land. Comparable sales method of valuation is preferred rather than methods of valuation of land such as capitalization of net income method or expert opinion method, because it furnishes the evidence for determination of the market value of the acquired land at which the willing purchaser would pay for the acquired land if it had been sold in the open market at the time of issuance of notification under Section 4 of the Act.
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Supreme Court of India
Kapil Mehra & Ors vs Union Of India & Anr on 17 October, 2014
Bench: T.S. Thakur, R. Banumathi
Citation;2014ALLSCR3728