Section 22(1) in The Meghalaya Co-operative Societies Rules
(1)Value of land for the purpose of Clauses (3) and (5) of Section 27 shall be determined by the society in the manner detailed below :(a)by reference to any recorded sale of similar land in the locality during recent period ; or(b)if no record of such sale is available the value of the land shall bear such proportion to the annual rent payable to the society for the land as may be notified by the Registrar ; or(c)if no rent has been assessed for the land, the value shall be determined by the Managing Body subject to the approval of the Registrar.
