15 Land Acquisition · 15.3 RFCTLARR Act 2013: compensation and R&R

15.3.1 RFCTLARR Section 26: market value of land and the material date

Under s.26 the Collector fixes market value as the highest of three figures — the stamp-duty value, the average of the top half of sale prices of similar land in the vicinity over the preceding three years, and the consented amount for private or PPP projects — as on the date of the s.11 preliminary notification, and then multiplies it by the First Schedule factor.

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Key terms

  • section 26
  • market value
  • Collector
  • stamp duty value
  • ready reckoner
  • Annual Statement of Rates
  • average sale price
  • top 50 per cent sale deeds
  • three years
  • consented amount
  • whichever is higher
  • Explanations 1 to 4
  • floor price section 26(3)
  • shares 25 per cent
  • material date
  • section 11 notification

What this note covers

  1. Core factsFoundation
  2. ExplainedStandard
  3. DeeperAdvanced
  4. Mains writingMains writing
  5. Common trapsFoundation
  6. Quick revisionFoundation

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