A Supreme Court bench said that only “the existing physical qualities and state of the land and building” can be considered to determine ‘capital value’, not “the prospects of the land”
The Supreme Court decision on Monday to uphold an April 2019 Bombay High Court order invalidating three standards to determine the ‘capital value’ of land where construction is yet to begin under a new property tax regime has come as a great relief for developers in Mumbai.
https://indianexpress.com/article/cities/mumbai/supreme-court-bombay-hc-property-tax-real-estate-8263064/
Source: The Indian Express
