In Brief
This appeal concerned the valuation of agricultural land acquired by the State of Punjab under the Land Acquisition Act, 1894. The High Court had fixed a base value of Rs.92.56 per square yard and then applied two separate deductions: 25% for development and 25% for the State being under shadow of terrorism. The Supreme Court upheld the base valuation and the 25% development cut, but reversed the terrorism-related cut. The Court held that market prices during terrorism are inherently depressed, making a separate deduction for this factor tantamount to double-counting the same depressive effect. The final awarded value was Rs.69.42 per square yard.
The lawyer headnote and full judgment text are available to registered users.