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Issues involved: Determination of compensation for acquired lands u/s Land Acquisition Act, 1894 based on auction sale transactions, proximity of sale transactions to acquired lands, appropriate deduction for competitive-hike in auction prices, and consideration of urban development potential of acquired lands.
Summary: Issue 1: Compensation Determination based on Auction Sale Transactions - The acquired lands in Betegeri village were valued for compensation based on auction sale transactions. - Reference Court initially determined compensation at &8377; 2,17,372/- per acre using sale deed Exhibit P-2. - High Court increased compensation to &8377; 4,42,000/- per acre based on different auction sale Exhibit P-19. - Appellant challenged the reliance on Exhibit P-19 and the deduction for development costs. Issue 2: Proximity of Sale Transactions to Acquired Lands - The Reference Court and High Court differed in their choice of auction sale transaction for valuation. - The Supreme Court emphasized the importance of considering proximity and size of the sold plots in determining market value. - Court justified reliance on Exhibit P-2 due to its proximity to acquired lands compared to Exhibit P-19. Issue 3: Appropriate Deduction for Competitive-Hike in Auction Prices - Courts discussed the impact of competitive bidding in auction sales on determining market value. - Auction sales were considered less reliable due to competitive factors affecting prices. - A deduction of 20% was applied to the auction price to offset competitive-hike for fair market value determination. Issue 4: Consideration of Urban Development Potential - The acquired lands were within municipal limits with urban development potential. - Court applied a 40% deduction for cost of development, considering the lands' access to infrastructural facilities. - The Reference Court's 53% deduction and the High Court's 33% deduction were deemed inappropriate. Conclusion: - The Supreme Court partially allowed the appeals, reducing the compensation from &8377; 4,42,875/- to &8377; 295,500/- per acre. - The decision considered the proximity of sale transactions, appropriate deductions, and urban development potential of the acquired lands. - Respondents were entitled to statutory benefits as previously awarded.
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