Compensation Amount For Land Acquisition
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Just compensation is the price an agency must pay to acquire real property. An agency official must make the estimate of just compensation to be offered for the property, which amount may not be less than the amount established in the approved appraisal report as the fair market value for the property.
On Wednesday, the Uttar Pradesh government hiked the land compensation from the current ?2,650 per square metre (SQM) to ?3,300-3,400 per sqm.
Section 26 of the Act consists of provisions that govern compensation for the landowners. It defines the proposed minimum compensation, based on multiples of the market value of the land. The market value is usually multiplied by a factor of one or two times, for land acquired in rural and urban areas.
Property Rights in the State of California In an eminent domain case, the property owner is entitled to be paid the fair market value of the property taken plus damages to any remaining property.
Real estate acquisitions refer to when an investment company purchases existing properties, renovates them to fit market standards, then rents them and eventually sells them for profit.