(1.) Land measuring 4 kanals and 10 marlas bearing Khasra No. 5 min situated at Village Theed Tehsil and District Srinagar was acquired for public purpose, namely, Development of Dal Lake. A corrigendum dated 30.10.2000 was issued to the notice in terms of Section 4(1) reducing the area of land for the purpose of acquisition from 4 kanals 10 marlas to 3 kanal 15 marlas and 200 Sfts. Acquisition proceedings were initiated by the Collector culminating in passing of an award @ of Rs. 8.00 lacs per kanal with 15% as jabirana.
(2.) Feeling dissatisfied with the award, reference under Section 18 of the Land Acquisition Act was made in the matter before Principal District Judge, Srinagar. On entering into the reference, the reference court enhanced the compensation from 8.00 lacs per kanal to 13.00 lacs per kanal. Dissatisfied with this, the present appeal has been filed by the appellants.
(3.) Dispute in the present appeal relates to the determination of the market value of the land from the date of declaration under Section 6 of the Act which this court is required to consider while analyzing the aforementioned exigencies as to what is true market value of the land. Some of the important methods for determination of market value are as under: