Land Acquisition Act, 1894 – Fixation of market value in a Reference under Section 18(1) of the said Act necessarily involves some guesswork. However, the guesswork is required to be made by adopting one of the well-recognized methods, such as the comparison method or capitalization method.
Category ‘A’ lands were dry lands having frontage on National Highway No.47. Category ‘B’ was of reclaimed lands with road frontage which had access to the river through the reclaimed portions. Considering these factors, in the facts of the case, it is not possible to find fault with the approach of the High Court of fixing the market value of Category ‘B’ lands at 52% of the market value fixed for Category ‘A’ lands. Therefore, there is no scope to interfere with the Judgment of the High Court. [Para 11]