Section 75(3) in The Karnataka Education Act, 1983
(3)The amount payable for the acquisition of any immovable property under section 74 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.
