Supreme Court - Agreement to Sell Land, but Convyeyance deed was executed after some time - what should be market value of land for the purpose of conveyance deed?

 In the matter of M/s. Residents Welfare Association, Noida V/s State Of U.P. & Ors Complaint no. CIVIL APPEAL NO. 4367 OF 2000  decided on  15.04.2009 before Supreme Court of India

Agreement to Sell Land, but Conveyance deed was executed after some time - what should be market value of land for the purpose of conveyance deed?

1. When delay is caused by Purchaser intentionally, the market value should be determined on the date when the deed is executed and not when an agreement to sale the property or lease the property had been registered.

1. Where however the delay is caused by seller the market value should be determined on the date when the agreement to lease the property was entered.

1. Further observed that there cannot be a straitjacket formula devised for determining the same.

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