In Brief
This case involved multiple land acquisitions in Kerala for waterway expansion and infrastructure development. Landowners challenged High Court decisions that reduced market values fixed by Reference Courts. The Supreme Court held that while market valuation involves guesswork, it must follow established methods like comparison or capitalization. Where Reference Courts reasoned their valuations using comparable lands, the High Court could not arbitrarily reduce values without assigning reasons. The Court restored market values for dry lands in two appeals but dismissed the appeal against the High Court's categorical ratio formula (100:52:48:43:39) for lands with differing locational attributes like highway vs. water frontage accessibility."
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