Section 14(1) in The Goa, Daman and Diu Land Revenue (Conversion of use of land and non-agricultural assessment) Rules, 1969
(1)The full market value of non-agricultural lands in an urban area in a block shall be estimated on the basis of sales, leases and awards under the Land Acquisition Act, 1894, which have taken place and declared, as the case may be, in that block during the period of fifteen years immediately preceding the year in which the standard rate of non-agricultural assessment of lands in that block is to be fixed, in accordance with the following principles, that is to say-(a)in the case of a sale of an open plot not assessed to land revenue, the amount of sale price thereof, shall be the full market value thereof;(b)in the case of a sale of an open plot assessed to land revenue, the amount equal to the sale price and sixteen times the assessment shall be the full market value;(c)in the case of a sale of a plot with superstructure where such plot is not assessed to land revenue or rent, an amount equal to the difference between the amount of the sale price thereof and amount of the market value of only the superstructure on the date of the sale shall be the full market value;(d)in the case of sale of a plot with a superstructure where such plot is assessed to land revenue, an amount equal to the difference between the amount of the sale price thereof and amount of the assessment multiplied by sixteen on the one hand and amount of the market value of the superstructure on the date of the sale on the other shall be the full market value;(e)in the case of long term lease or assignment of a long term lease of an open plot for a premium with a reservation of ground rent, an amount equal to the premium and sixteen times the ground rent reserved shall be the full market value;(f)in the case of a long term lease or assignment of a long term lease of an open plot without payment of premium, an amount equal to sixteen times the amount of rent reserved shall be the full market value;(g)in the case of a long term lease or assignment of a long term lease without payment of premium of a plot with superstructure, where rent is reserved an amount equal to sixteen times the difference between the amount of the annual rent reserved and the amount of the annual letting value of the superstructure on the date of the lease shall be the full market value;(h)in the case of transfer of a leasehold plot with superstructure an amount equal to the difference between the amount of the sale price and the amount of the market value of the superstructure on the date of the transfer plus sixteen times the ground rent shall be the full market value;(i)in the case of plot with or without superstructure not assessed to land revenue which is acquired under the Land Acquisition Act, 1894, the amount of the value of the land (excluding the value of superstructure, if any), declared under the award, shall be the full market value; and(j)in the case of a plot with or without superstructure, assessed to land revenue which is acquired under the Land Acquisition Act, 1894, the amount of the value of the land (excluding the value of superstructure, if any), declared under the award plus sixteen times the assessment, shall be full market value.
