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These Regulations establish the basis for assessing the market value of any land or the compensation for any injurious affection caused by the acquisition of land. Market Value should be assessed as follows: in case part of a land is acquired and when its value as a separate entity deems to realize a value proportionately lower than the Market Value of the main land the compensation should be proportionate to the value of the main land. When the date of intention to acquire was published, the building is used or is intended to be used for occupation and or business purposes, the difference between the cost of re-construction and the value of building, based for determination of Market Value under Section 1.1, should be paid as an additional compensation. Value based on development potential could be considered for paddy lands acquired where permission to fill such lands have been granted by the Agrarian Services Commissioner General. When an acquired building is occupied by a tenant/statutory tenant protected under the provisions of the Rent Act, No. 7 of 1972 (as amended thereafter) the compensation should be ascertained in proportion having regard to the provisions of Rent (Amendment) Act, No. 26 of 2006.
Implements: Land Acquisition Act 1950 (No. 9 of 1950). (1979)
