Section 11 in Punjab Package Deal Properties (Disposal) Rules, 1976
11. Fixation of price.
- In case of urban properties in which the price has already been determined by the Settlement Organisation of the Government of India, the following criteria shall be followed :-(i)The year in which the price of a particular urban property was fixed shall be taken as the base year and from that year onwards, till the date of re-assessment, the price of the plot area of the urban property shall be enhanced by 10 per cent of the price already assessed, per year; the price of the superstructure remaining the same. The Tehsildar (Sales) or Naib- Tehsildar shall, in cases where the price so enhanced does not get equated with the prevailing market price, make a report indicating price so enhanced and the prevailing market price to the Chief Sales Commissioner, who may enhance the price further so as to equate it with the prevailing market price.[Provided that in case the price by enhancing ten per cent per year works out to be higher than that of the prevailing market price, the Chief Sales Commissioner may reduce the price and fix it at the level of the market price prevailing in respect of such property.] [Added vide Notification dated 3rd September , 1991.](ii)(A)In all other cases, while fixing the market price, the following criteria will be kept in view :-(a)the value of the property in the neighbourhood;(b)the general prevailing market price of similar urban property in that locality;(c)in case, in a particular locality, no transaction is found to have been made, the last transaction in that locality or in the adjoining locality to be taken as the basis for assessing the market price by enhancing its price by 10 per cent per year of the amount of the last transaction;(d)The rent of the other local properties in that particular locality;(e)rental value, if any, as mentioned in the Municipal Property Register.(B)The assessment of market price on the basis of the criteria specified in sub-clause (A) will be made by the Tehsildar (Sales), subject to the final approval of the Sales Commissioner.(C)In case where the price of the superstructure is to be fixed the assessment of the price will be made by the Tehsildar (Sales), in collaboration with the Local Public Works Department authorities subject to the approval of the Sales Commissioner.(D)(i)[In the case of a building plot, site or agricultural land, the area whereof is five hundred square yards or more and is being used for commercial or industrial purposes, the market price shall be assessed by the Valuation Board comprising Sub- Divisional Officer (Civil), Executive Engineer, P.W.D. (B & R) or his representative not below the rank of Sub-Divisional Officer, the District Industries Officer and the Settlement Officer (Urban);] [Inserted vide Notification dated 30th August, 1979.](ii)[Additional price of the area transferred to the occupants in excess of the limits prescribed in sub-rule (b) of Rule 9 shall also be assessed by the Board referred to in para (i).] [Inserted,-vide Notification dated 30th August, 1979.](iii)[ The reserve price of urban land, plot or site which is not being used for residential, commercial or industrial purposes shall be assessed by the] [Substituted vide Notification dated 3rd September , 1991.] District Level Committee comprising the Deputy Commissioner or Addl. Deputy Commissioner, as Chairman, the Sub-Divisional Officer (Civil) and the Deputy Director, Local Bodies or the Commissioner of the Municipal Corporation, as members, which shall be subject to the approval of the Commissioner of the Division concerned.
