Please use this identifier to cite or link to this item: https://dr.ddn.upes.ac.in//xmlui/handle/123456789/2611
Title: Analysis of the factors affecting agricultural land price for determining the fair value of land during land acquisition in India
Authors: Roy, Tapas
Keywords: Management
Infrastructure Management
Issue Date: Aug-2017
Publisher: UPES, Dehradun
Abstract: Nothing else has caused greater conflicts among humans than land, which is a product of geologic and geomorphic processes. Land being the primary resource for producing food, the principles relating to its ownership and usufruct rights have always drawn attention of the thinkers of all ages. Manu in India or Aristotle in early Greek civilization documented rules on ownership and management of land. In the Egyptian and Sumerian history or in that of the Inca civilization, land related principles abound. In spite of varying degrees of ownership rights on land, the sovereign’s right to expropriate land for a greater need of the society (in some cases for the king during the early days) has always been accepted. But in spite of this, expropriation of land always posed many challenges. Conflicts were endemic. Even in today’s world the conflicts continue, the norm and forms of acquisition differ between the developed world and the under developed countries but in all cases it is the land losers who are up in arms against the state when it tries to expropriate. Contemporary world irrespective of their political beliefs follow the guidelines as laid down in the legal treatise of De Jure Belli et Pacis written by the Dutch jurist Hugo Grotius in 1625. He enunciated the principle of dominium eminens (Latin for supreme lordship). He argued that the sovereign power of the state to acquire property for public utility was subjected to making good the loss to those who lost their property. In principle this should put the owner in the same "pecuniary" position, had the land being not taken from her through eminent domain. But what was the right value to make good of the loss incurred remained unresolved. Epstein argued that the amount of compensation should be in consonance with the degree of public interest to make it just. In cases there were lower public interest, the compensation should be higher. (Epstein R. A., 1985). He also brought the tax payer’s perspective in the ‘takings’ when he said that the money raised to finance compensation was a ‘taking’ from the taxpayers, who received compensation ‘in kind’ in the form of benefits from the public project. This necessitated the need to balance the compensation to land losers with the loss incurred by payment of higher taxes (Ibid, Ch.18). Subjectivity in determining the amount of compensation to be paid becomes unavoidable as the compensation should at least match the owner’s loss rather than the condemner’s gain and it is all but natural that different owners put different value tags to the same property depending on their perceived benefits. Based on the owner’s loss the market value becomes indeterminant.
URI: http://hdl.handle.net/123456789/2611
Appears in Collections:Thesis

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01_title.pdf41.88 kBAdobe PDFView/Open
02_acknowledgement.pdf13.23 kBAdobe PDFView/Open
03_declaration.pdf10.52 kBAdobe PDFView/Open
04_certificate.pdf206.3 kBAdobe PDFView/Open
05_contents.pdf284.06 kBAdobe PDFView/Open
06_executive summary.pdf262.88 kBAdobe PDFView/Open
07_list of figures.pdf8.14 kBAdobe PDFView/Open
08_list of tables.pdf8.49 kBAdobe PDFView/Open
09_list of charts.pdf6.21 kBAdobe PDFView/Open
10_chapter1.pdf641.5 kBAdobe PDFView/Open
11_chapter2.pdf199.75 kBAdobe PDFView/Open
12_chapter3.pdf272.95 kBAdobe PDFView/Open
13_chapter4.pdf848.74 kBAdobe PDFView/Open
14_chapter5.pdf824.11 kBAdobe PDFView/Open
15_chapter6.pdf875.98 kBAdobe PDFView/Open
16_chapter7.pdf329.53 kBAdobe PDFView/Open
17_chapter8.pdf1.78 MBAdobe PDFView/Open
18_chapter9.pdf1.23 MBAdobe PDFView/Open
19_chapter10.pdf538.33 kBAdobe PDFView/Open
20_annex.pdf746.9 kBAdobe PDFView/Open
21_references.pdf1.83 MBAdobe PDFView/Open


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