Section 5(2) in The Bombay City (Inami and Special Tenures) Abolition Rules, 1972
(2)In the case of sale of plot, with superstructure, or lease of a plot with or without superstructure, the sale price or estimated price of the plot as unbuilt plot shall be determined in accordance with the following principles, that is to say :-(a)in the case of a sale or award in respect of a plot with superstructure, an amount equal to the difference between the amount of the sale price of, or the valuation estimate for awarding compensation for, the plot with the superstructure and the amount of the price of the superstructure only on the date of the sale or the relevant date of valuation referred to in the awarded shall be the sale price of the plot as unbuilt plot;(b)in the case of a lease of an open plot for a premium with reservation of annual ground rent, an amount equal to the premium and sixteen times the annual ground rent reserved, shall be the estimated price of the plot as unbuilt plot;(c)in the case of a lease of an open plot without payment of premium, an amount equal to sixteen times the annual ground rent reserved, shall be the estimated price of the plot as unbuilt plot;(d)in the case of a lease of a plot with superstructure without payment of premium, where annual rack rent is reserved, the difference between the amount of 16 times the annual rent so reserved and the value of the superstructure on the date of the lease, shall be the estimated price of the plot as an unbuilt plot;(e)in the case of transfer of a leasehold plot with superstructure, an amount equal to the difference between the amount of the sale price in respect of the transfer and the amount of the market value of the superstructure on the date of the transfer plus 16 times the annual ground rent shall be the market value;Provided that, where the difference between the actual sale price or the valuation of any built up property determined in awards, declared under the Land Acquisition Act, 1894, and the value of the superstructure or the difference as worked out under sub-clause (d) or sub-clause (e) is zero or in the negative, the Collector shall not take into consideration such sales, leases or awards for the purpose of determining the sale price of the plot.
