Document Fragment View

Matching Fragments

Heard the Government Pleader for Arbitration, for the petitioners in the Revisions and Sri Y. Chandrasekhar, for the respondent in all the Revisions.

2. The respondent had purchased on 30.06.2008 from M/s. A.C.C. Limited 213.33 Sq.yds., 7316.57 Sq.yds and 19253.55 Sq.yds. under three separate sale deeds being Document Nos.2830 of 2012, 2831 of 2012 and 7343 of 2012 in various Survey Nos. in Moosapet Village, Balanagar Mandal, Ranga Reddy District.

3. In the first sale deed, the respondent assessed the market value at Rs.9389/- per sq.yd.; in the second sale deed, it assessed the market value at Rs.4,100/- per Sq.yd.; and in the third sale deed, it assessed the market value at Rs.4,414/- per sq.yd.

5. On receipt of the reference from the 2nd petitioner, the 1st petitioner issued notice to the respondent on 14.03.2012 under Rule (4) of the A.P. Stamp (Prevention of Undervaluation of Instruments) Rules, 1975.

6. The respondent gave the following response to the three notices:

"(1) The property is purchased from M/s.ACC Limited, a professionally managed company and the sale consideration is truly set forth and there is no under valuation of the property.
(2) The property is situated on 30' wide road. All along the boundary of the property, the property is shadowed by the Moosapet flyover which has permanently denied access to the main road. We have to pass only through a 30' wide road which is also terminating with still narrow road.

9. He did not deal with the plea of the respondent that the property is situated on 30' wide road and all along the boundary of the property, it is shadowed by the Moosapet flyover which has permanently denied access to the main road and the purchaser has to pass only through a 30' wide road which is also terminating with still narrow road; that applying rate of Rs.20,000/- per Sq.yd. to such land is unjust; that high tension lines pass through the property and two ::4:: MSR,J crp_3373_2016&batch towers one passing from West to East and another from East to North direction are located in the property and no construction activity can be taken up underneath the high tension lines and considerable land is lost. He also did not consider the plea of the respondent that 1500 Sq.yds. is occupied by a drainage canal which is passing through the land and on its either side land has to be kept vacant and un-utilized and a buffer zone has to be created on either side of the nala and thus almost two acres of land would be wasted.

Finding of 1st petitioner Re: bits of 7316.57 Sq.yds. and 19253.55 Sq.yds

10. In regard to the other two bits of 7316.57 Sq.yds. and 19253.55 Sq.yds. covered by pending document nos.117/2008 and 217/2008, he observed that they are located on 30' wide service road abutting to the Moosapet flyover; prior to the construction of the flyover, the property was located on the 250' wide road, but after construction of flyover, it has lost the character of main road property and has become a sub-lane property; two high tension lines, one passing from West to East direction and another from East to North direction pass through the properties; these lines are permanent in nature and no construction activity can be taken underneath them and the property underneath the high tension lines is lost permanently; a sewerage nala is passing through these properties flowing from upper areas of Bharathnagar and flowing towards Sanathnagar which is of permanent nature and cannot be closed, and a buffer zone has to be created all along the nala; and so the purchaser loses a large extent of land. He therefore ::5:: MSR,J crp_3373_2016&batch observed that for these reasons property value has depreciated considerably and it is unreasonable to apply market value of Rs.20,000/- applicable to 250' wide road National Highway since it is situated on the 30' wide service road and the rate of Rs.16,000/- per Sq.yd. would be proper.