Market value – Determination – Rate of price escalation – for determining the market value of a land acquired in 1992, adopting the annual increase method with reference to a sale or acquisition in 1970 or 1980 may have many pitfalls. This is because, over the course of years, the “rate” of annual increase may itself undergo drastic change apart from the likelihood of occurrence of varying periods of stagnation in prices or sudden spurts in prices affecting the very standard of increase.
SUPREME COURT OF INDIA DIVISION BENCH VED AND ANOTHER — Appellant Vs. STATE OF HARYANA AND ANOTHER — Respondent ( Before : Uday Umesh Lalit and Vineet Saran, JJ. )…

