LAW FOR ALL

Land Acquisition Act - fixation of market value - We also find merit in the argument of the learned counsel for the landowners that while fixing market value of the acquired land the learned Single Judge committed serious error by not considering an important piece of evidence, i.e., Exhibit PW9/A dated 23.11.1999 vide which HSIIDC had allotted land to M/s. Honda Motorcycles and Scooters India (Private) Limited at the rate of Rs.1254.18 per square yard. Although, this document was produced before the Reference Court but the same was not taken into consideration while determining the amount of compensation.The same error has been repeated in the impugned judgment. If this document is taken into consideration, then market value of the acquired land would come to Rs.60,69,360 per acre. By making deduction of 50% towards development cost and granting annual increase of 12/15% (cumulative), market value of the land will be much higher than Rs.37,40,000 per acre.= In the result, the appeals are allowed, the impugned judgment is set aside and the matter is remitted to the High Court for fresh disposal of the appeals filed by the parties under Section 54 of the Act as also the cross objections. The parties shall be free to urge all points in support of their respective cause and the High Court shall decide the matter uninfluenced by the observations contained in this judgment. 36. Maruti Udyog Limited shall be free to file an appropriate application before the High Court for its impleadment or grant of leave to act as intervenor in the appeals filed by the parties. If such an application is filed, the same shall be decided on its own merits. 37. The State Government/HSIIDC shall pay the balance of compensation determined by the High Court, i.e., Rs.37,40,000 - Rs.28,15,356 = Rs.9,24,644 per acre to the landowners and/or their legal representatives along with all statutory benefits within a period of four months from today. The payment shall be made to the landowners and/or their legal representatives by following the procedure laid down in the interim orders passed by this Court.