Section 26

26. Determination of market value of land by Collector.–(1) The Collector shall adopt the following criteria in assessing and determining the market value of the land, namely:— (a) the market value, if any, specified in the Indian Stamp Act, 1899 (2 of 1899) for the registration of sale deeds or agreements to sell, as the case may be, in the area, where the land is situated; or (b) the average sale price for similar type of land situated in the nearest village or nearest vicinity area; or (c) consented amount of compensation as agreed upon under sub-section (2) of section 2 in case of acquisition of lands for private companies or for public private partnership projects, whichever is higher: Provided that the date for determination of market value shall be the date on which the notification has been issued under section 11. _Explanation 1.—The average sale price referred to in clause (b) shall be determined taking into_ account the sale deeds or the agreements to sell registered for similar type of area in the near village or near vicinity area during immediately preceding three years of the year in which such acquisition of land is proposed to be made. _Explanation 2.—For determining the average sale price referred to in Explanation 1, one-half of_ the total number of sale deeds or the agreements to sell in which the highest sale price has been mentioned shall be taken into account. _Explanation_ 3.—While determining the market value under this section and the average sale price referred to in Explanation 1 or Explanation 2, any price paid as compensation for land acquired under the provisions of this Act on an earlier occasion in the district shall not be taken into consideration. _Explanation 4.—While determining the market value under this section and the average sale_ price referred to in _Explanation 1 or_ _Explanation 2, any price paid, which in the opinion of the_ Collector is not indicative of actual prevailing market value may be discounte