(1)in relation to any immovable property transferred, being immovable property of the nature referred to in sub-clause (i) of clause (e), means,-](i)if the transfer is by way of sale, the consideration for such transfer as specified in the instrument of transfer;(ii)if the transfer is by way of exchange,-(A)in a case where the consideration for the transfer consists of a thing or things only, the price that such thing or things would ordinarily fetch on sale in the open market on the date of execution of the instrument of transfer;(B)in a case where the consideration for the transfer consists of a thing or things and a sum of money, the aggregate of the price that such thing or things would ordinarily fetch on sale in the open market on the date of execution of the instrument of transfer and such sum;(iii)[ if the transfer is by way of lease,- [ Inserted by Act 22 of 1981, Section 2 (w.e.f. 1.7.1982).](A)in a case where the consideration for the transfer consists of premium only, the amount of premium as specified in the instrument of transfer;(B)in a case where the consideration for the transfer consists of rent only, the aggregate of the moneys (if any) payable by way of rent and the amounts for the service or things forming part of or constituting the rent, as specified in the instrument of transfer;(C)in a case where the consideration for the transfer consists of premium and rent, the aggregate of the amount of the premium, the moneys (if any) payable by way of rent and the amounts for the service or things forming part of or constituting the rent, as specified in the instrument of transfer, and where the whole or any part of the consideration for such transfer is payable on any date or dates falling after the date of such transfer, the value of the consideration payable after such date shall be deemed to be the discounted value of such consideration, as on the date of such transfer, determined by adopting the rate of interest at eight per cent. per annum;]
