Section 8(4) in The Punjab Requisitioning and Acquisition of Immovable Property Act, 1953
(4)The compensation for the acquisition of any property under section 7, in the absence of an agreement shall be -(a)the price which the requisitioned property would have fetched in the open market, if it had remained in the same condition as it was at the time of requisitioning and been sold on the date of acquisition, or(b)twice the price which the requisitioned property would have fetched in the open market if it had been sold on the date of requisition, whichever is less.
