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TMI Blog2011 (1) TMI 1551X X X X Extracts X X X X X X X X Extracts X X X X ..... Nos. 59-60 of 2011 (Arising out of SLP (C) Nos. 27812-27813/2008), Civil Appeal Nos. 61-62 of 2011 (Arising out of SLP (C) Nos. 27815-27816/2008), Civil Appeal Nos. 63-64 of 2011 (Arising out of SLP (C) Nos. 27817-27818/2008), Civil Appeal Nos. 71-72 of 2011 (Arising out of SLP (C) Nos. 27819-27820/2008) and Civil Appeal Nos. 73-74 of 2011 (Arising out of SLP (C) Nos. 27822-27823/2008) ORDER R.V. Raveendran, J. 1. Leave granted. 2. An extent of 127 acres 26 guntas of lands in Betegeri village within the municipal limits of Gadag-Betegeri Municipality, was acquired for Karnataka Housing Board in pursuance of Preliminary Notification dated 6.2.1992. The Land Acquisition Officer, Gadag, made an award ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he High Court relied upon Ex. P-19 which related to another auction sale of a smaller plot measuring 150 sq.m. by the Gadag-Betegeri municipality on 20.11.1989, for a price of ₹ 24500/- (which works out to a price of ₹ 163.33 per sq.m). On that basis the High Court works out the market value per acre as ₹ 6,60,977/-. The High Court was of the view that the deduction/cut towards development factor should be only 33% instead of 53% adopted by the Reference Court. By deducting 33% from ₹ 6,60,977/-it arrived at the market value as ₹ 4,42,875/- per acre which was rounded off to ₹ 442,000/- per acre, while awarding the compensation. 5. Feeling aggrieved, the Housing Board has filed these appeals by sp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... date of preliminary notification, as that would give a fair indication of the market value. A `willing seller' refers to a person who is not acting under any pressure to sell the property, that is, where the sale is not a distress sale. A willing seller is a person who knowing the advantages and disadvantages of his property, sells the property after ascertaining the prevailing market prices at the fair and reasonable value. Similarly, a willing purchaser refers to a person who is not under any pressure or compulsion to purchase the property, and who, having the choice of different properties, voluntarily decides to buy a particular property by assessing its advantages and disadvantages and the prevailing market value thereof. Of cours ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent of competition in auction sales makes them unsafe guides for determining the market value. 7. But where an open auction sale is the only comparable sale transaction available (on account of proximity in situation and proximity in time to the acquired land), the court may have to, with caution, rely upon the price disclosed by such auction sales, by providing an appropriate deduction or cut to off-set the competitive-hike in value. In this case, the Reference Court and High Court, after referring to the evidence relating to other sale transactions, found them to be inapplicable as they related to far away properties. Therefore we are left with only the auction sale transactions. On the facts and circumstances, we are of the view ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - per acre (Executive Engineer (Electrical), Karnataka Power Transmission Corporation Ltd. v. Assistant Commissioner and LAO Gadag CA Nos. 1768-1775 of 2010 decided on 11.2.2010). That land abutted the Sambarpur Road and was also near to the bus stand, market and educational institutions. That land was equally well-situated, if not better situated than the acquired lands. When this Court has determined a market value of ₹ 426,670/- in regard to a acquisition more than two and a half years later, that is 15.9.1994, the determination of higher compensation of ₹ 4,42,875/-as on 6.2.1992 based on Ex. P19, is unsustainable. 9. We may now consider what should be the proper compensation with reference to Ex. P2. The sale price ..... X X X X Extracts X X X X X X X X Extracts X X X X
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