/2023 INSC 0088/ REPORTABLE                                 IN THE SUPREME COURT OF INDIA    CIVIL APPELLATE JURISDICTION     CIVIL APPEAL NO.  1173     OF 2023    (Arising out of SLP (Civil) No.3585 of 2022) Ravinder Kumar Goel                              .…Appellant(s) Versus The State of Haryana & Ors.               ….  Respondent(s) With   C.A.NO. 1176 OF  2023 @  of SLP (C) No.4837 of 2022) C.A.NO. 1178 OF 2023 @  of SLP (C) No.7772 of 2022) C.A.NO. 1177 OF 2023 @  of SLP (C) No.7455 of 2022) C.A.NOS. 1182­1210   OF 2023@  of SLP(C) Nos.3446­ 3474/2023 @ D.No.11863 of  2022) C.A.NOS. 1179­1181   OF 2023@  of SLP (C) Nos.10577­  79/2022) C.A.NOS. 1174­1175  OF 2023 @  of SLP (C) Nos.9898­ 99/2022) 1 C.A.NOS.  1217­1220 OF 2023 @  of SLP (C) Nos.622­ 625/2023) C.A.NOS.1211­1216 OF 2023@  of SLP (C) Nos.3434­ 3439/2023 @ D.No.14744 of  2022) C.A.NOS.1221­1222 OF 2023@  of SLP(C) Nos.2450­ 2451/2023) J U D G M E N T A.S. Bopanna,J.          1. The irony in all these cases is that the appellants are   land   losers   who   have   been   divested   from   their   land either   fully   or   in   part   to   construct   an   Express   Highway over such land for the benefit of others to travel fast but the   process   to   compensate   them   with   a   just   and   fair quantum   of   money   instead   of   being   on   the   fast   track, has   been   tardy.     It   is   a   couple   of   years   short   of   two decades from the date of the preliminary notification and the   appellants   are   still   litigating   to   receive   what   is rightfully due to them. 2 2. These   appeals   even   otherwise   have   a   chequered history.     The   appellants   are   before   this   Court   for   the second   time.     The   lands   which   were   owned   by   the appellants formed  a part of  the  lands that  were notified under   Section   4   read   with   Section   17   (2)   of   the   Land Acquisition   Act,   1894   (for   short   ‘Act,   1894’)   by   the Haryana   Government   Industries   Department.     The preliminary   notification   was   issued   on   11.01.2005   and the   declaration   under   Section   6   of   Act,   1894   was   made on   31.05.2005.     The   purpose   for   which   the   lands   were acquired   is   for   the   construction   of   Express   Highway Phase  VII   connecting  National  Highway  No.1,  10,  8 and 2 in village Sultanpur, Sub­Tehsil Farukh Nagar, Tehsil, and District Gurugram.  The total extent of land notified for   the   project   was   798   Kanals   and   2   Marlas   of   which, the appellants’ lands are also included. 3. The   award   was   passed   by   the   District   Revenue Officer­cum­Land   Acquisition   Collector   (for   short   ‘LAO’), Gurgaon   on   10.05.2006.   The   market   value   was   fixed   at Rs.12,50,000/­ per acre for all kinds of lands as per the rates   of   the   lands   supplied   by   the   Collector,   Gurugram 3 through   the   letter   dated   03.11.2005.     The   land   losers including   the   appellants   had   sought   reference   under Section   18   of   Act,   1894.     The   Reference   Court,   through its   judgment   dated   27.02.2012,   after   consideration   had enhanced   the   market   value   to   Rs.43,17,841/­   per   acre. The   High   Court   had   an   occasion   to   consider   the correctness   of   the   same   in   appeals   filed   by   both   the parties before it.  The High Court, on consideration, had through   its   judgment   dated   05.02.2016   enhanced   the market value to Rs.62,11,700/­ per acre. 4. The land losers as also the State of Haryana were before this Court assailing the common judgment dated 05.02.2016   passed   by   the   High   Court.     This   Court through its judgment dated 25.01.2018 in the case titled as   Surender   Singh   Vs.   State   of   Haryana   &   Ors. (2018)   3   SCC   278,   remanded   all   the   cases   to   the Reference   Court   and   the   parties   were   permitted   to   lead further   evidence   whereupon   the   Reference   Court   was required to take a fresh decision in the matter. 5. Accordingly,   the   parties   had   tendered   evidence and   exhibited   the   sale   instances   as   exemplars.   The 4 Reference   Court   on   re­appreciation   of   the   evidence   and materials   available   on   record   has   through   its   judgment and   award   dated   10.01.2020,   determined   the   market value   of   the   acquired   lands   at   Rs.22,00,754/­   per   acre. The parties being aggrieved, were before the High Court. The   Haryana   State   Industrial   and   Infrastructure Development Corporation Ltd. & Ors. (for short ‘HSIIDC’) had   assailed   the   quantum   of   market   value   determined as   excessive,   while   the   land   losers   had   sought   further enhancement   of   the   market   value.     The   High   Court, through   its   common   judgment   dated   07.10.2021   has modified   the   judgment   of   the   Reference   Court   and reduced   the   market   value   to   Rs.14,52,010/­   per   acre. The   land   losers   being   aggrieved   by   the   same   are   before this Court in these appeals seeking enhancement of the market value in respect of the acquired lands. 6. In   the   above   background,   we   have   heard   all   the learned   counsel   for   the   appellants   as   also   the   learned counsel   for   the   respondent­HSIIDC   and   perused   the appeal papers. 5 7. The   gist   of   the   contention   on   behalf   of   the   land losers   is   that   the   lands   which   are   the   subject   matter   of these appeals are situated in Sultanpur which is within the   urban   agglomeration.   As   such,   though   the   lands were   depicted   as   agricultural   lands,   in   fact,   the   said lands   have   non­agricultural   potential,   more   particularly the   lands   are   urbanized   lands   being   located   within   the urban   area.     In   that   view,   it   is   contended   that   the market   value   cannot   be   determined   by   either considering the land as agricultural land or by applying the   yardstick   which   is   applicable   to   large   tracts   of agricultural   land.     It   is   contended   that   though   the composite   notification   to   acquire   the   lands   consists   of 798   Kanals   2   Marlas   of   land,   insofar   as   the   appellants are   concerned,   they   are   land   owners   of   small   extent   of lands which were to be used as urban land for purposes other   than   agriculture,   and   therefore,   the   market   value as   determined   by   the   High   Court   on   applying   the   floor rates fixed by the Government, would not be justified.  It is   their   further   contention   that   on   the   matter   being remanded   to   the   Reference   Court,   evidence   had   been 6 adduced   wherein   sale   exemplars   were   relied   on.     It   is contended   that   the   Reference   Court   having   taken   into consideration all aspects of the matter had in fact rightly relied   on   the   sale   deed   dated   07.12.2004   which   was marked   as   Ex.PX.     Having   done   so,   the   only   error committed   by   the   Reference   Court   is   to   deduct   35   per cent   of   the   value   towards   development   charges inasmuch   as   in   the   instant   case,   the   question   of deducting development charges would not be justified as the   entire   acquired   land   has   been   utilized   for   the purpose   of   constructing   roads.     Hence   it   is   contended that   the   entire   amount,   being   the   sale   consideration   in the   said   sale   deed   dated   07.12.2004   is   to   be   reckoned and   the   same   be   determined   as   the   market   value   to quantify the compensation. 8. The gist of the contention put forth by the learned counsel   for   the   beneficiary   of   the   acquisition,   namely HSIIDC   is   that   the   Reference   Court   was   not   justified   in placing   reliance   on   the   document   at   Ex.PX,   dated 07.12.2004.  The said document related to the purchase of a  small  extent  as compared  to  the vast  extent  of 798 7 Kanals   2   Marlas   of   land   which   was   acquired.     Hence   it does not represent the true value of the acquired lands. It   is   the   further   contention   that   on   the   other   hand,   the HSIIDC   had   relied   on,   as   many   as   nine   sale   exemplars between the period 23.07.2004 and 25.11.2005 wherein the larger extent of agricultural land had been sold and the value per acre in all the said instances is lesser than the   floor   rate   which   had   been   taken   into   consideration. Though   the   LAO   had   determined   the   market   value   at Rs.12,50,000/­   based   on   the   same,   the   High   Court taking   into   consideration   that   there   was   time   gap,   has adopted   the   same   and   added   the   escalation   for   the period   between   the   date   of   the   circular   indicating   the floor   rates   and   the   date   of   the   notification.     It   is contended   that   the   High   Court   having   thus   assigned appropriate   reasons   has   determined   the   market   value and   awarded   just   compensation.   Therefore,   the judgment   does   not   call   for   interference,   is   the submission. 9. In   the   light   of   the   rival   contentions,   keeping   in view   that   the   only   question   herein   is   to   determine   the 8 appropriate   market   value   for   the   acquired   lands,   the well­settled   yardsticks   are   to   be   kept   in   view   and   a decision is to be taken as to whether the High Court was justified  in  interfering  with  the  manner  of  consideration made by the Reference Court and as to whether the High Court   was   correct   in   adopting   the   amount   as   indicated in the circular providing for the floor rates for fixing the market value in the teeth of the other documents which were available on record.   In this regard, it is noted that the   LAO   at   the   first   instance   while   passing   the   award dated   10.05.2006   has   in   fact,   kept   in   view   the   circular dated   03.11.2005   issued   by   the   Collector   providing   for the   floor   rates   at   Rs.12,50,000/­   per   acre   and   has, accordingly, determined the compensation.   As narrated earlier,   when   the   parties   were   before   this   Court   in   the first   round   of   litigation   in   the   case   titled   Surender Singh Vs. State of Haryana & Ors.  (supra), this Court having   taken   note   of   the   governing   factors   as   to   the determination of market value had remanded the matter for   fresh   consideration   though   the   circular   relating   to the   floor   rates   was   also   available   to   the   benefit   of   this 9 Court to be noticed and applied if need be.  In that view, in   the   light   of   the   said   circular,   without   relying   on   the same,   this   Court   had   directed   that   the   evidence   be tendered by the parties before the Reference Court so as to make such evidence the basis for fresh determination to   be   made.   Despite   the   same,   the   High   Court   in   the present   round   has   merely   relied   on   the   circular providing for the floor rates despite other evidence being available on record. Such determination is therefore not justified.     From   the   records,   it   is   pointed   out   that   as contended   on   behalf   of   the   parties,   the   sale   exemplars were brought on record to aid the Court to determine the market value, the consideration of which was required to be made to arrive at an appropriate market value. 10. While  adverting   to this aspect of  the  matter  what is   necessary   to   be   noted   is   that   the   Reference   Court before   appreciating   the   evidence,   has   kept   in   view   the parameters laid down  by  this Court while considering  a reference   for   the   purpose   of   determining   the   market value   of   the   acquired   lands   to   arrive   at   the   just compensation.     Since   the   sale   exemplars   had   been 10 placed by the rival parties before the Reference Court, in order to take the same into consideration, the Reference Court has in fact taken note of the decision of this Court in   State   of   Gujarat   vs.   Kakhot   SinghJi   VajesinghJi Vaghela   (1968) 3 SCR 692.   This Court had enunciated the   principle   that   the   price   agreed   between   a   willing seller and a willing purchaser   would be the price which is   generally   prevailing   in   the   market   in   respect   of   the lands having similar advantages which can be the basis to determine the market value of acquired lands if such sale instances are brought on record.   11. Further,   the   Reference   Court   had   also   kept   in view   the   decision   of   this   Court   in   Atma   Singh   (Dead) through Lrs. and Ors. vs. State of Haryana and Anr. (2008)   2   SCC   568   wherein   it   is   held   that   the   sale instances of small pieces of land cannot be ignored while determining  the compensation for  a large extent of land acquired.  The rule of deduction on development charges would   not   be   uniformly   applicable   was   also   taken   into consideration.     It   is   in   that   light,   the   Reference   Court 11 has   placed   reliance   on   the   document   at   Ex.PX   dated 07.12.2004   relied   upon   by   the   land   losers.     Under   the said   document,   an   extent   of   5   Marlas   was   sold   in Sultanpur   i.e.   the   area   which   is   the   subject   matter   of these   appeals,   for   the   sale   consideration   of Rs.1,05,000/­   which   would   amount   to   Rs.33,60,000/­ per   acre.     On   reckoning   the   said   value   of   land,   the Reference   Court   deducted   35   per   cent   of   the   same towards   development   charges   and   thereafter   added   the escalation for   35 days being  the difference   of the period between   the   date   of   the   said   sale   deed   and   the   date   of the preliminary notification.   It is on the said basis that the market value of Rs. 22,00,754/­ per acre was arrived at by the Reference Court. 12.   From   the   judgment   of   the   Reference   Court   it   is noted that the sale exemplars which were relied upon by the   respondent­HSIIDC   at   Ex.R5/R12,   Ex.R6,   Ex.R9, Ex.R13   to   Ex.R16   were   discarded   since   they   depict   the market value of the land which is lower than the amount awarded   by   the   Collector.     To   that   extent,   the   reason assigned   by   the   Reference   Court   is   not   justified.     The 12 documents would have to be taken into consideration, to decide   as   to   whether   the   lands   are   comparable   and,   on the   determination,   if   the   conclusion   is   that   they   are comparable but the market value depicted is lesser than what   is   awarded   by   the   SLAO   and   if   there   is   no   other document to indicate a higher market value, it would be open for the Reference Court to confirm the award of the LAO being more beneficial to the land losers.  13. Therefore,   since   we   have   already   indicated   that the High Court was not justified in merely relying on the circular   fixing   the   floor   rates   when   other   evidence   was available on the record pursuant to the remand made, it is   necessary   for   us   to   take   note   as   to   whether   the Reference   Court   had   committed   an   error   in   not   relying on   the   sale   exemplars   produced   by   the   respondents without analysing the comparability.  The position of law is   well   settled   that   when   large   extent   of   lands   are acquired   and   if   the   sale   exemplar,   also   for   the   large extent is available on record it would be safer to rely on the same if they are comparable transactions.  However, as   already   noted   above,   this   Court   in   Atma   Singh 13 (supra)   has   also   held   that   the   sale   instances   of   smaller extents   cannot   be   ignored.     Further,   this   Court   has reiterated   in   many   cases   that   the   sale   exemplars   for smaller extent can be relied upon subject to appropriate deduction being provided towards development charges.   14. In   the   instant   case,   though   the   acquisition Notification   dated   11.01.2005   was   issued   in   respect   of the   large   extent   of   lands   measuring   798   Kanals   and   2 Marlas,     the   extent   of   lands   which   were   owned   by majority   of   land   losers   is   a   small   extent.   In   fact,   the details   indicated   in   the   judgment   dated   10.01.2020 passed by  the Reference Court has referred to about 69 appellants   who   were   before   it.     Therefore,   the   extent   to which each of the appellants is claiming compensation is a smaller extent.   In that background, if the documents relied on by the respondents at Ex.R5 to R16 are noted, the largest extent sold is under Ex.R16 being 32 Kanals and   16   Marlas,   while   the   least   being   under   Ex.R8 measuring 3 Kanals and 8 Marlas.   We have referred to this aspect of the matter to indicate that while approving the   procedure   for   placing   reliance   on   the   sale   deeds   of 14 earlier   sale   transactions   as   exemplars,   this   Court starting   from   the   case   of   Kakhot   SinghJi   Vajesinghji Vaghela   (supra)   and   several   other   cases   has emphasized that the basis for the same is that the value under   such   exemplars   would   represent   the   sale consideration agreed upon between a willing seller and a willing purchaser and therefore would represent the true market value.  15. If   the   above­referred   concept   is   kept   in perspective, one cannot loose sight of the fact that when large   extent   of   agricultural   land   is   sold   under   a document   and   if   the   land   is   to   be   used   for   agricultural purpose, the price agreed thereto would be based on the nature of the land and the purpose for which it is put to use.  In cases, where the large extent of agricultural land belonging   to   a   single   owner   is   acquired,   it   would   no doubt   be   safe   to   rely   on   such   sale   exemplars   of   large extents,   more   particularly,   in   circumstances   where   the land which is classified as agricultural land is also used for   agricultural   purposes.     In   such   circumstances,   to 15 arrive   at   the   market   value   depending   on   the   nature   of the   cultivation,   the   capitalisation   method   by   applying the  multiplier  to  the  crop  pattern  and  price derived can be   adopted   and   the   market   value   be   determined   or determine   the   market   value   based   on   such   sale   deeds which are comparable exemplars.   16. However, the difficulty arises when a person holds a   smaller   extent   of   land   which   is   classified   as agricultural   land   but   would   have   lost   its   character   due to   non­cultivation   and   urbanization   when   such   land   is more   eminent   and   fit   to   be   used   for   non­agricultural purposes.   It is in that circumstance, such land though classified as agricultural will have to be treated as a land having   non­agricultural   potential   more   particularly   for urban use.  In that light, in appropriate cases depending on   the   location   and   the   extent   of   land   held   by   each   of the land losers who is a part of the same acquisition, is required to be kept in view, while applying the yardstick to   reckon   the   appropriate   exemplar   and   arrive   at   the ultimate   conclusion.   Therefore,   there   can   be   no   strait jacket   formula   that   when   the   sale   deeds   for   the   sale   of 16 large   extent   are   available   and   large   extent   of   lands   are acquired that alone should be reckoned as the exemplar. What   is   material   is   its   comparability,   which   would depend on case to case basis and that is for the Court to analyze based on the evidence available on record. 17. If   the   above­noted   criteria   is   kept   in   perspective, in   the   instant   case   as   already   noted   and   also demonstrated to us at the time of hearing with reference to   the   final   development   plan   of   Gurgaon­Manesar Urban Complex 2031 AD,   the lands in issue are within the   boundaries   of   the   Municipal   Corporation.   Further, the   very   award   dated   10.05.2006   passed   by   the   LAO records   that   no   crops   are   standing   on   the   land. Therefore,   in   that   circumstance   when   smaller   extent   of land   is   available,   the   same   would   be   used   for   urban development   and   not   for   agricultural   purpose.   Hence relying on Ex. R5 to R16 which are sale deeds of a large extent of agricultural land, would not be justified unless there   was   further   evidence   brought   on   record   to demonstrate that the nature of the lands sold under the said sale deeds and the lands notified are comparable to 17 each other. In that view, though the reason assigned by the   Reference   Court   is   not   appropriate   on   that   aspect, the   ultimate   conclusion   to   eschew   the   said   documents will stand justified. 18. If that be the position, from the documents which were relied upon by the appellants­land losers, the most appropriate   document   to   be   relied   upon   was   Ex.PX dated 07.12.2004  since  it  was  earlier  to   the  notification dated 11.01.2005  under  Section  4,  read  with   17  of  Act, 1894   and   in   close   proximity   thereto,   which   has   been rightly done by the Reference Court.  Since small extents of   land   belonging   to   the   land   losers,   having   non­ agricultural   potential   in   an   urban   area   was   notified   for acquisition,   the   said   sale   exemplar   dated   07.12.2004 can   be   considered   as   comparable.   The   Reference   Court was,   therefore,   justified   in   reckoning   the   same.     Since the   two   dates   are   in   close   proximity,   in   our   opinion, further   addition  of the escalation value  for  35 days  was not   justified.     The   escalation   of   that   nature   is   normally to   be   taken   if   there   are   no   documents   within   close proximity   to   the   date   of   notification   and   a   document   of 18 the larger time gap is the only available document to be taken   into   consideration,   in   which   case,   the   escalation for a longer time gap is required to be given. 19.    Having arrived at the above conclusion, the next aspect which engages our attention is with regard to the appropriate deduction towards development charges and as   to   whether   the   Reference   Court   was   justified   in deducting 35 per cent of the value from the market value arrived at based on the document at Ex.PX.  The learned counsel   for   the   appellants   contend   that   the   acquisition in the instant case is for construction of the road and as such, the deduction was not necessary to be made.  The decision in   C.R. Nagaraja Shetty (2) vs. Special Land Acquisition   Officer   and   Estate   Officer   and   Anr. (2009) 11 SCC 75 is relied on to contend that in the said case   where   the   land   was   acquired   for   widening   the national   highway,   this   Court   has   held   that   there   is   no question   of   any   further   development,   and   as   such   the deduction on account of development charges will not be justified.     The   decision   in   Piyara   Singh   &   Anr.   vs. 19 State   of   Haryana   &   Ors.   Etc.   (2017)   2   SCALE   323, also a decision where this Court held that the deduction of   40   per   cent   as   made   in   the   said   case   when   the   land acquired was roughly 1 kanal to 1 acre per person which ultimately   totals up to 305 acres which was acquired, is not justified is relied upon.   20. Having   bestowed   our   attention   to   that   aspect   of the   matter,   we   are   of   the   opinion   that   in   the   instant case,   the   said   decisions   relied   upon   by   learned   counsel for   the   appellants   would   not   be   of   any   assistance   to them  since they   are  rendered  entirely  based on the fact situation   arising   therein.     In   fact,   this   Court   in   JAG Mahender   &   Anr.   Vs.   State   of   Haryana   &   Ors. through   the   order   dated   21.09.2017   in   Civil   Appeal No.15702/2017 arising out of SLP (C) No.16063 of 2016 and connected appeals had taken into consideration the entire   perspective   relating   to   the   deduction   of development   charges   with   reference   to   the   earlier decisions of this Court in   Haryana State Agricultural Market   Board   &   Anr.   vs.   Krishan   Kumar   &   Ors. 20 (2011)   15   SCC   297   and   in   Sabhia   Mohammed   Yusuf Abdul Hamid Mulla (Dead) by Lrs. & Ors. vs. Special Land   Acquisition   Officer   &   Ors.   (2012)   7   SCC   595 wherein on taking note of the nature of development that would   be   required   in   the   acquired   lands   and   also   the general   rule   of   deduction   of   1/3 rd   of   the   market   value towards development cost except in cases where there is no   development   required,   this   Court   had   ultimately arrived   at   the   conclusion   that   deduction   of   25   per   cent would be justified.   21. In that background, in the instant facts, the land acquired   is   for   the   construction   of   a   new   Expressway which would require not just laying of the roads but also providing   several   amenities   through   the   highway   and also   creation   of   service   roads,   flyovers,   underpass   to townships across such highway.   Land  is also to  be left as a divider to bifurcate the two­way roads. Therefore, it would   not   be   justified   in   saying   that   no   development cost at all would be incurred.   Hence, taking all aspects into   consideration   and   also   taking   into   consideration 21 that the sale exemplar for a smaller extent is being relied on   for   the   reasons   noted   above,   in   the   facts   and circumstance   arising   herein,   it   would   be   appropriate   to reckon   the   deduction   towards   development   cost   at   25 per cent of the value taken into consideration under the document Ex. PX dated 07.12.2004.  Therefore, from the amount   of  Rs.33,60,000/­ which  is  the  value  therein,  a sum   of   Rs.8,40,000/­   being   25   per   cent   is   to   be deducted.     Hence  the   market   value  to   be  determined   in the   present   case   would   be   Rs.25,20,000/­   per   acre, which   shall   be   payable   with   all   statutory   benefits   as compensation for the lands acquired.   22.  Before we part with this matter, one other aspect which   was   brought   to   our   notice   is   that   in   the   first round   of   the   case,   a   higher   rate   of   compensation   was determined   and   before   the   judgment   was   set   aside   and remanded, in some of the cases the execution was levied and the amount was paid to the land losers.   In view of the determination of the compensation at a lower rate in the  present round  of  proceedings, the  excess  amount  is being   recovered   by   the   respondents.     The   learned 22 counsel   for   the   appellants   contend   that   if   this   Court determines   the   market   value   at   a   lesser   rate   than   what has   been   paid   to   some   of   the   appellants,   such   of   those land losers who have received the amount, be protected against   recovery.     Learned   counsel   for   the   respondents would   vehemently   oppose   such   a   request.     Having considered this aspect of the matter, we are clear in our mind   that   it   would   not   be   possible   for   this   Court   to create two sets of land losers who are otherwise similarly placed,   in   respect   of   the   same   acquisition   process   after having determined the market value at a particular rate which is applicable to all of them.   23. Therefore,   it   is   needless   to   mention   that   if   any excess   amount   has   been   received   by   any   of   the   land losers   than   the   extent   of   the   compensation   determined herein, the excess amount, in any event, is recoverable. We   cannot   also   lose   sight   of   the   fact   that   such   a situation   has   arisen   due   to   the   earlier   orders   of   the Court determining the compensation. Though it is not a mistake of the Court, it has led to the present situation due   to   the   act   of   the   Court.   It   would   therefore   be 23 appropriate   to   invoke   the   principle   of   ‘ actus   curiae neminem   gravabit ’   so   that   both   parties   are   not prejudiced   to   the   extent   possible.   Taking   note   that   the amount   which   has   been   received   will   be   invested   or utilised, to enable repayment after making arrangement, we direct that the balance to be refunded, shall be paid back   in   three   half­yearly   instalments,   free   of   interest. However,   if   the   amount   is  not   refunded  within  the   time period as provided above, the same shall thereafter carry interest at 9% p.a. and the respondent­HSIIDC would be entitled to recover the same, including the right to make recovery as arrears of land revenue.  24. In the result, we pass the following order; (i) The   judgment   dated   07.10.2021   passed   by the   High   Court   of   Punjab   and   Haryana   at Chandigarh   in   RFA   No.421/2021,   RFA No.848/2021   and   connected   appeals, impugned herein, is set aside. (ii) The   judgment   dated   10.01.2020   passed   by the   Additional   District   Judge,   Gurugram 24 (Reference Court) in LAC Case No. 1426 and connected   references   is   restored   and modified. (iii) In modification, it is ordered that the market value of the acquired land is Rs.25,20,000/­ per   acre.   The   same   shall   be   payable   with statutory   benefits   and   the   costs   incurred throughout by the appellants.  (iv) The appeals are accordingly, allowed in part.   (v) Pending   applications,   if   any,   stand   disposed of. ……………………….J.                                               (A.S. BOPANNA) ……………………….J.                                             (HIMA KOHLI) New Delhi; February 15, 2023 25