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51. Dr. Saraf then sought to justify the actions of the Government to rely upon the Ready Reckoner as the basis for arriving at the value of the land. In this regard, Dr. Saraf submitted that in 1995 the Bombay Stamp (Determination of True Market Value of Property) Rules, 1995 were framed. The said Rules provide for preparation of the "Annual Statement of Rates" of immoveable property annually and set out a detailed procedure for fixation of the average annual rate of lands and buildings (commonly known as the Ready Reckoner). He submitted that the same is prepared by an expert body of persons after gathering information from all sources including the Registration Office as regards the registration of documents, various acquisition awards, tenders/actions of government/semi-government bodies, rates obtained by local enquiry, and property exhibitions. Rules 4 and 5 of these Rules are relevant which set out the detailed procedure for preparation of the "Annual Statement of Rates" (Ready Reckoner). A perusal of the Ready Reckoner discloses a great deal of the detailing whereby the rates are varied even street wise. Even within a particular road, at times, different rates are provided for different areas depending on the peculiarity of the JULY 10, 2024 Utkarsh wp.923.2014 clean final.docx same. Dr. Saraf submitted that in the affidavits dated 8th August 2018, 15th February 2019 and 9th January 2020 filed on behalf of the State, the procedure for preparation of the Ready Reckoner is set out. The details are also provided of how the values in respect of these particular lands were arrived at in the Ready Reckoner. When one peruses all this material, it was the submission of Dr. Saraf, that the Ready Reckoner is neither an arbitrary nor a whimsical implemantation, but a very carefully carried out statutory scientific exercise involving due application of mind and applying well settled principles of valuation. It therefore does not lie in the mouth of the Petitioners to complain that the value of the land on which the Petitioners have their buildings, cannot be determined on the basis of the Ready Reckoner, especially when there is no challenge to the Ready Reckoner in the present proceedings. This is apart from the fact that the Petitioners have not brought forth a single valuation report or any other instance to demonstrate that the valuation of these properties is lesser than the value arrived at as per the Ready Reckoner, was the submission. This, according to Dr. Saraf, itself demonstrates that the Petitioners have no material whatsoever to dispute the valuation arrived at on the basis of the Ready Reckoner. He submitted that the use of the Ready Reckoner as the basis of valuation in fact ensures applicability of JULY 10, 2024 Utkarsh wp.923.2014 clean final.docx a uniform methodology to all plots and excludes any possibility of arbitrariness and discrimination.

65. As a corollary to this argument, Mr. Dada submitted that in any event the Government cannot take recourse to determine the value of the land on the basis of the Ready Reckoner. To put it in a nutshell, Mr. Dada submitted that each plot has its own peculiarity and by applying the Ready Reckoner rate, unequals are being treated as equals which is contrary to Article 14 of the Constitution. We are afraid we are unable to accept this submission. In 1995 the Bombay Stamp (Determination of True Market Value of Property) Rules, 1995 were framed. The said Rules provide for preparation of the "Annual Statement of Rates" and which is JULY 10, 2024 Utkarsh wp.923.2014 clean final.docx also commonly known as the Ready Reckoner. These rates are revised annually and set out a detailed procedure for fixation of average annual rate of lands and buildings. It is not in dispute that the same is prepared by an expert body of persons after gathering information from all sources like the Registration Office as regards the registration of documents, various acquisition awards, tenders/actions of government/semi- government bodies, rates obtained by local enquiry, and property exhibitions. A perusal of the Ready Reckoner discloses a great deal of detailing wherein rates are fixed even street wise. Even within a particular road, different rates at times are provided for different areas depending on the peculiarity of the same. Once this is the case, we find that there is nothing wrong in the Government looking to the Ready Reckoner rate as a reasonable benchmark of value for the purposes of calculating the revised lease rent. This is more so in the facts of the present case when none of the Petitioners have brought on record any valuation which would suggest that the Ready Reckoner rate applied by the Government is on the higher side and that the market value of their property is in fact lower than the Ready Reckoner rate. In fact, time and again, judicial notice has been taken that Ready Reckoner rates are more often than not lower than the actual market value of the property. This court in Super Max International Pvt Ltd V/S State of Maharashtra [2009 (2) JULY 10, 2024 Utkarsh wp.923.2014 clean final.docx Mh.L.J. 134] has taken judicial notice that the rates mentioned in the Ready Reckoner are lower than the market rates and in any case are seldom higher than the actual market rates. This judgment is thereafter affirmed by the Hon'ble Supreme Court in the State of Maharashtra V/S Super Max International Pvt Ltd [(2009) 9 SCC 772]. Once again, in the case of Shri Chandrakant V/S M/s. Dev Shakti Dal Mills [Writ Petition No.7703 of 2018 decided on 25th August 2022] this Court came to a similar finding. We therefore do not find any illegality in the Government applying the Ready Reckoner for determining the value of the land for fixation of the lease rent.

JULY 10, 2024 Utkarsh wp.923.2014 clean final.docx

80. Clause B(1)(d) of the 2012 GR stipulates that the lease rent payable by the lessees would be revised every 5 years on the basis of the value of the land on the date of revision. In other words, as an example, for Co-operative Housing Societies, after the leases are renewed for 30 years with effect from 1st January 2012 [i.e. till 31st December 2041], the rent would be revised again on 1st January 2017; 1st January 2022; 1st January 2027; and so on, depending on the Ready Reckoner value of the land on the date of the revision. In other words, on 1st January 2017, the rent would be revised by calculating 1% of 25% of the Ready Reckoner value of the land as on 1st January 2017. Again, on 1st January 2022 the rent would be revised by calculating 1% of 25% of the Ready Reckoner value of the land as on 1st January 2022; and so on.

(b) We do not find that the Government, by taking the Ready Reckoner value into account (for determining the value of the land) is treating unequals, as equal.

The Government is applying the Ready Reckoner to all the lands of the Petitioners which is a fair and transparent method adopted by the Government for valuation of the lands owned by it. Without bringing on record any valuation that any land of the Petitioners covered by any of the leases is valued lower than the Ready Reckoner value, the Petitioners cannot, either assail the Ready Reckoner value, or contend that unequals are being treated equally.