Amendment status not verified — confirm the current text below against the official source.
Reasonable price of land for the purpose of its sale and purchase. 64 The Gujarat Tenancy And Agricultural Lands Act, 1948 [1948 : Bom. LXVII (2) Where under the provisions of this Act any land is sold or purchased by mutual agreement, such agreement shall be registered before the Mamlatdar, and the price of the land shall, subject to the limits specified in sub-section (1), be such as may be mutually agreed upon by the parties. In the case of disagreement between the parties, the price shall be determined by the Tribunal having regard to the factors mentioned in this section. (3) Where in the case of a sale or purchase of any land under this Act, the Tribunal or the Mamlatdar has to fix the price of such land under this Act, the Tribunal or the Mamlatdar, as the case may be, shall, subject to the quantum specified in sub-section (1), fix the price having regard to the following factors, namely:- (a) the rental values of lands used for similar purposes in the locality; (b) the sturctures and wells constructed and permanent fixtures made and trees planted, on the land by the landlord or tenant; (c) the profits of agriculture of similar lands in the locality; (d) the prices of crops and commodities in the locality; (e) the improvements made in the land by the landlord or the tenant; (f) the assessment payable in respect of the land; and (g) such other factors as may be prescribed;] 1[Explanation.– For the purpose of this section the expression "assessment" shall have the meaning assigned to it in section 8.] 2[63AA. (1) Nothing in section 63 shall prohibit the sale or the agreement for the sale of land for which no permission is required under sub-section (1) of section 65B of the Bombay Land Revenue Code, 1879 in favour of any person for use of such land by such person for a bonafide industrial purpose: Provided that – (a) the land is not situated within the urban agglomeration as defined in clause (a) of section 2 of the Urban Land (Ceiling and Regulation) Act, 1976, (b) where the area of the land proposed to be sold exceeds ten hectares the person to whom the land is proposed to be sold in pursuance of this sub-section shall obtain previous permission of the industries Commissioner, Gujarat State or such other officer, as the State Government may by an order in writing, authorise in this behalf, (c) The area of the land proposed to be sold shall not exceed four times the area on which construction for a bonafiede industrial purpose is proposed to be made by the purchaser: Provided that any additional land which may be required for pollution control measures or required under any relevant law for the time being in force and certified as such by the relevant authority under that law shall not be taken into account for the purpose of computing four times the area: 3[Provided further that where the land is sold to a purchaser which is a company as defined by clause (20) of section 2 of the Companies Act, 2013, it may offer the equity shares of the company, to the person by whom such land is being sold, in lieu of the sale price of such land and if such peron is in agreement for accepting such equity shares, either in