The market Value of the land under sub-section (1) of section 7 shall be determined in one or more of the following methods:-
(i) The price for similar land or portion of the same land in recent years after due allowance being made for lapse of time, advantage of situation or any other possible differences between the land sold and that proposed to be acquired;
(ii) The price for similar lands in the Vicinity in recent years;
(iii) The annual income from the land which may be capitalized for a certain number of years of purchase the number of years being determined on the nature of the land, the State of the money market and other relevant circumstances;
(iv) The value of the land shall be subject to full assessment including the value of trees, buildings, or crops standing thereon in the normal condition in which it would have come into the market at the time of publication of the notice under sub-section (1) of section 4.
#LawyerServices #Section #Act #Law #Statute #IndianLaw #Kanoon