Section 283(3) in The Maharashtra Municipal Corporations Act, 1949
(3)in estimating the market value of the land or building at the date of the publication of a notification relating thereto under sub-section (2) of section 272, the Court shall have due regard to the nature and the condition of the property and the probable duration of the building, if any, in its existing state and to the state of repair thereof and to the provisions of clauses (2), (5) and (6) of this section;
