Section 11 in The Rail Land Development Authority (Development of Land and Other Works) Regulations, 2012
11. Fixation of Guidance or Reserve Price.
(1)Based on the feasibility study and market survey a guidance or reserve price of each land shall be determined by the Authority which shall act as guidance for determining the reasonableness and acceptability of any offer.(2)The guidance price shall be fixed prior to opening of bids and it shall be reviewed by the Authority in cases of significant changes in market conditions, scope or terms of development, government policies etc.(3)The guidance price mayor may not be disclosed to the bidders as may be decided by the Authority from case to case basis.
