Property Owners Should be Paid Highest Market Value for Land Acquisition: Supreme Court

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Till now the Greater Hyderabad Municipal Corporation (GHMC) was paying the compensation for land acquisition as per the market value to the property losers. But on April 27th, the Supreme Court said that the property owners should be paid the highest market value for land acquisition and not the registration value of the same area. As the land value is deliberately kept low to pay less registration fee in the sale deed, the apex court made this change to make the property owners feel less offended about their property acquisition.

For example, for widening the road on the Khairatabad-Nirankari Bhavan stretch, if the registration value of the property is Rs 25,000 per square yard and if the market value is over Rs 50,000 per sq yard, then the GHMC has to consider Rs 50,000, which is the current market value of the property.

Though the Supreme Court has made the decision, when the GHMC officials were asked about the same they replied saying that they need to study the Supreme Court’s judgment on compensation and then they will decide what to do.

Source: The Times of India

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