Section 6(1) in The Bombay City (Inami and Special Tenures) Abolition Rules, 1972
(1)On the basis of the information relating to sale price, estimated sale price, and compensation in respect of unbuilt plots, compiled in the register referred to in Rule 5, the Collector shall work out the average market value of the land in a revenue division in the following manner, that is to say-(a)The amount of sale price, estimated price or compensation in respect of sales, leases and acquisitions during the period of 15 years, shall be added together and the total amount found out and the total area in square metres of all the lands so sold, leased or arrived at by dividing such total amount in rupees by the total area in square metres.(b)The amounts of sale price, estimated price or compensation in respect of sales, leases and acquisitions during each of the 15 years shall separately be calculated. The average value or acquired during each of the 15 years, shall separately be calculated. The average value of land per square metre in respect of each such year shall then be arrived at, by dividing such total amount in rupees in respect of any year by the total area in square metres so calculated for that year. On the basis of average value for each of the years, the average value of land per square metre in the revenue division, shall be arrived at as under-X = Total amount arrived at by adding the yearly average values in respect of all the years to which the instances of sale, lease and acquisition pertain.Y = Number of years for which the information regarding sale, lease and acquisition has been compiled.X/Y = Average value of land per square metre.Out of the two averages referred to in clauses (a) and (b), that one which is lower, shall be average market value of the land.
