Pre-emptive purchase in real estate: exercise only when fair market value materially exceeds declared consideration to prevent evasion. The instruction directs Appropriate Authorities under Chapter XXC to curb black money in immovable property transfers by ensuring true value declaration, while exercising the right of pre-emptive purchase only on cogent reasons showing fair market value materially exceeds apparent consideration and applying any reserve margin with moderation to avoid harassment of bona fide parties.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Pre-emptive purchase in real estate: exercise only when fair market value materially exceeds declared consideration to prevent evasion.
The instruction directs Appropriate Authorities under Chapter XXC to curb black money in immovable property transfers by ensuring true value declaration, while exercising the right of pre-emptive purchase only on cogent reasons showing fair market value materially exceeds apparent consideration and applying any reserve margin with moderation to avoid harassment of bona fide parties.
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