How the market value of land is determined by the collector?
– The average sale price referred to in clause (b) shall be determined taking into account the sale deeds or the agreements to sell registered for similar type of area in the near village or near vicinity area during immediately preceding three years of the year in which such acquisition of land is proposed to be made.
Who is administrator under Land Acquisition Act?
Where the appropriate Government is satisfied that there is likely to be involuntary displacement of persons due to acquisition of land, then, the State Government shall, by notification, appoint in respect of that project, an officer not below the rank of Joint Collector or Additional Collector or Deputy Collector or …
What are the parameters considered in determining compensation in land acquisition?
a) market value on date of intention notification under Section 4; b) damage sustained by persons due to taking of standing crops or trees on land acquired; c) damage (if any) due to severing of acquired to be land from other lands; d) damage (if any) where acquisition injuriously affects his other property (movable or …
What is market value land?
Market value of land
The market price of land is the money that the owner is willing to sell his land for, in the open market. The market value of the land is reflected in how much this land is worth, especially in the eyes of prospective buyers, as compared to its price.
What is market value in land law?
(a) the market value, if any, specified in the Indian Stamp Act, 1899 (2 of 1899) for the registration of sale deeds or agreements to sell, as the case may be, in the area, where the land is situated; or. (b) the average sale price for similar type of land situated in the nearest village or nearest vicinity area; or.
What is valuation in land acquisition?
The standard method of determination of the market value of any acquired land is by the valuer evaluating the land on the date of valuation publication of notification Under Section 4(1) of the Act, acting as a hypothetical purchaser willing to purchase the land in open market at the prevailing price on that day, from …
What is the compensation given to the land?
State must pay compensation at the market value for such land, building or structure acquired (Inserted by Constitution, Seventeenth Amendment Act, 1964), the same can be found in the earlier rulings when property right was a fundamental right (such as 1954 AIR 170, 1954 SCR 558, which propounded that the word ” …
Who can own land in Kenya?
Foreigners can own property in Kenya in their name. The Constitution (2010), the Lands Act (6/2012) and the Land Registration Act (3/2012), subject to certain limitations, grant the right to any person, either individually or in association with others, to acquire and own land in Kenya.
What is the main purpose of land acquisition under the Rfctlarr Act 2013?
Aims and objectives of the Land Acquisition Act, 2013
To provide fair compensation to the families who are affected or whose land has been acquired or livelihood has been affected, because of the land acquisition. To provide adequate provision for rehabilitation and resettlement of the families affected.
What is Section 24 of Land Acquisition Act 2013?
Then came the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013. Section 24 in the 2013 Act was enacted to undo the historical wrong done after the British rule by the Land Acquisition Act, 1894 (hereinafter referred to as “1894 Act”).
Under which section of the land acquisition Act Public purpose is defined?
Section 6 Declaration that land is required for a public purpose, Section 7 After declaration Collector to take order for acquisition – Land Acquisition Act 1894.