SHANTI BHUSHAN Vs. STATE OF U P

JUDGEMENT

(1.) The controversy involved in this writ petition is as to whether determination of the market value is dependent upon limited rights enjoyed by the owner in the property.

(2.) In order to determine this controversy, certain facts are required to be noted, which are as follows :-

(3.) Bungalow no. 19-A, Elgin Road, Allahabad was taken on rent by the father of the petitioner in the year 1939 on a monthly rent of Rs. 184/- per month. The property also consisted of a cottage which was leased out to Sri J.S.Gupta on a monthly rent of Rs. 50/- per month. The property was owned by one Sri Har Mohan Das Tandon. The landlord vide two letters dated 2.9.1966 and 10.9.1966 agreed to sell the above noted property to petitioner no. 1 or his nominee for a total consideration of Rs. One lac. As per the said agreement, Rs. 5,000/- was paid by petitioner no. 1 to the landlord as advance towards part sale consideration and remaining amount was to be paid by the petitioners at the time of execution and registration of the sale deed.