Agricultural and Biological Sciences
8 years ago

New method ensures fair compensation for landowners in India's thin market.

International Journal of Economics and Business Research
Defining fair market value of land in a thin land market of India to pay just compensation - a case study
Anil Kumar, R. Jayaraj, Tapas Kumar Roy

Paper Summary

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The new Land Acquisition Act in India uses average land values to determine compensation, but this doesn't work well in a limited land market. Small, fragmented land plots have varying prices, making it hard to find fair values. To address this, a new method suggests adjusting sale prices based on different land attributes before averaging them. This approach aims to calculate a more accurate fair market value for land compensation.