Section 24 in The Displaced Persons (Compensation and Rehabilitation) Rules, 1955
24. Valuation of acquired evacuee property which is an allottable property.
(1)Where any acquired evacuee property which is an allottable property is to be transferred to any person in occupation thereof in satisfaction of the whole or a part of the compensation, payable to such person, the Settlement Officer, shall first determine the value of the property having regard inter alia to all or any of the following matters:-(a)the amount for which property was assessed for the purpose of municipal taxes during the year in which the date of acquisition falls;(b)the annual rental income of the property;(c)sale of similar or contiguous property during the last three years;(d)the present market value of the site and the present value of the evacuee building and in the case of an industrial concern the value of the machinery.(2)For the purpose of determination of the value of any acquired evacuee property under sub-rule (1), depreciation may be allowed according to the age of the building, quality of construction and the standard of maintenance of property.
