R.V. Raveendran, J. - (1.) Leave granted.
(2.) An extent of 127 acres 26 guntas of lands in Betegeri village within the municipal limits of Gadag-Betegeri Municipality, was acquired for Karnataka Housing Board in pursuance of Preliminary Notification dated 6.2.1992. The Land Acquisition Officer, Gadag, made an award dated 14.2.1997 awarding a compensation of Rs. 45,000/- per acre.
(3.) On a reference being made at the instance of the land owners, the Reference Court, by judgment and award dated 11.7.2003, determined the compensation for the acquired lands as Rs. 2,17,372/- per acre. For this purpose, the Reference Court relied upon Exhibit P-2 which is a sale deed dated 30.7.1992 executed by the Municipal Commissioner, Gadag-Betegeri Municipality in favour of one Manikamma in regard to a plot measuring 329 sq. meters which was sold for Rs. 37,600/- in an auction sale on 2.1.1989 (which works out to Rs. 114.29 per sq.m). The Reference Court, therefore, arrived at the market value per acre as Rs. 4,62,494/-. It deducted 53; towards development (that is, towards areas to be set apart for roads, drains and vacant spaces and towards cost of development) and arrived at the market value as Rs. 2,17,372/- per acre. The Reference Court referred to the evidence showing that the plot covered by Ex. P-2 was across the road from the acquired lands and was therefore a neighbouring property.;