T.S. RAMACHANDRA SHETTY vs CHAIRMAN, KARNATAKA HOUSING BOARD

The Supreme Court upheld the High Court's decision to grant compensation for acquired land at Rs.3 per square foot, amounting to Rs.1,30,680 per acre, as per Section 23 of the Land Acquisition Act. The Court emphasized that the best evidence of market value is the sale transaction of the acquired land itself, referencing the appellant's purchase in 1986 for Rs.45,000. The Court found the High Court's reasoning consistent with established legal principles regarding land valuation and compensation.