In Brief
The Supreme Court partly allowed appeals by original claimants seeking enhanced compensation for agricultural land in Bhoyar village, Maharashtra, acquired by the Industrial Development Corporation under the Maharashtra Industrial Development Act, 1961. The Court upheld the High Court's reliance on a 1992 sale deed from the same village as the primary exemplar for valuation, but modified the cumulative price increase rate from 10% to 12% per annum, yielding a base value of Rs. 1,40,492 per hectare. Compensation was correspondingly increased: from Rs. 2,00,000 to Rs. 2,25,000 per hectare in some cases; from Rs. 1,80,000 to Rs. 2,00,000 in others; and from Rs. 1,50,000 to Rs. 1,75,000 in others. The Court rejected arguments that industrial use should raise compensation or that uniform rates applied across differently-located plots; it held that fair market value, not purpose of acquisition, is the proper criterion."
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