Section 2(16A) in The Stamp Act, 1977 (1920 A. D.)
(16A)[ "market value" in relation to any property which is the subject matter of an instrument, means the price which such property would fetch or would have fetched if sold in open market on the date of execution of such instrument as determined in such manner and by such authority as specified in this Act, or the rules made thereunder or the considerations stated in the instrument, whichever is higher; [Substituted by Act No. XII of 2011, dated 25th April, 2011.]
