Court has taken judicial Notice of fact there is a steady increase in the market value of lands
This Court in a series of judgments taken judicial notice of the fact that there is a steady increase in the market value of lands and have adopted the procedure of increasing the market value in the relied-upon transaction,
at a given rate per year. In General Manager, ONGC vs. Rameshbhai Jivanbhai Patel (Civil Appeal No.5192 of 2002 decided on 31.7.2008), this Court held that in regard to urban and semi-urban areas, in the absence of other acceptable evidence, a cumulative increase of 10% to 15% was permissible with reference to acquisitions in the 1990s. In the decades preceding 1990s, the quantum of increase was considered to be less than 10% per annum. This Court however observed that transactions beyond five years before the acquisition, should be considered with caution and may not always be a reliable guide.
Supreme Court of India
Sardar Jogendra Singh (D) By Lrs. vs State Of U.P. & Anr. on 28 August, 2008
Bench: R.V. Raveendran, Lokeshwar Singh Panta
