Law:

Section:

(a) Land Acquisition Act (I of 1894)-- ----Preamble---Object, import and basis of Land Acquisition Act, 1894 stated. Land Acquisition Act directly interferes with the inviolable right of the people regarding their disposal of property. It is founded upon the doctrine of "salus populi suprema lex" that the interests of the public are supreme and that the private interests are subordinate to the interests of the State, therefore, it is a well-established canon of interpretation that in construing the provision's of this Act, the benefit is to be given to subject. (b) Maxim--- ---"Salus populi suprema lex"---Interests of public are supreme---Private interests are subordinate to the interests of the State. (c) Land Acquisition Act (I of 1894)--- ---Preamble---In construing the provisions of Land Acquisition Act, 1894, benefit is to be given to the subject. (d) Land Acquisition Act (I of 1894)--- ----Ss. 23 & 24---Acquisition of land----Considerations for assessing compensation in regard to subsequent inflationary trends after issuance, of acquisition notice and before passing of award stated. The market value or market price means the price property would fetch in the market. The price will be highest price a willing buyer would pay and a willing seller would accept both being fully informed and the property being exposed for a reasonable period of time. The market value maybe different from the price a property can actually be sold at a given time. The market value is that price which might be expected to bring if offered for sale in a fair market. In assessing the compensation the potential value i.e. the benefits, advantages arising from the present use and future use are to be taken into consideration. The inflationary trend and depreciation in currency of the country between the date of acquisition under section 4 of the Act and the date of award also should not be totally ignored and be taken into consideration. Malik Aman and others v. Land Acquisition Collector and others PLD 1988 SC 32; Fraser v. City of Fraserville LR 1917 AC 194; R.B. Lala Narsingh Das v. Secretary of State of India AIR 1925 PC 91; Atmaram Bhagwant Ghadgay v.…