As noted, the procedure is not foreign insofar as the assessing the land value based on the comparable sale instances. The Apex Court in Airports Authority of India (supra) has accepted this principle by saying "Therefore, it would be open to the Land Acquisition Officer or the Court, either to assess the land with all its advantages and fix the market value thereof on the basis of comparable sale instances. In case where comparable sale instances are not available and where there is reliable and acceptable evidence on record of the annual income multiplied by appropriate multiplier for its capitalisation. In the case of fruit-bearing trees their net yield is to be taken into consideration, that is to say, by deducting expenses incurred for getting the yield and also the value of the timber and expenses to cut and remove the trees from the land."
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Bombay High Court
State Of Maharashtra vs Deoram Fakira Palmahale And Ors. on 6 September, 2007
Equivalent citations: 2007 (6) MhLj 556
Bench: A V Mohta
