(1) The value of the land assigned to a building shall be the value of the land as on the date of sale or lease of the building.

(2) In case the land has been acquired by way of purchase, the value of the land as on the date of sale or lease of the building shall be computed by applying one percent per month appreciation to the purchase value of the land, but in no case the value of the land shall exceed one hundred fifty percent of the purchase value of the land or the market value of the land, whichever is less :

Provided that the appreciation shall be computed on the basis of completed months.

(3) In case the land has been acquired otherwise than by way of purchase, the value of the land as on the date of sale or lease of the building shall be the market value of the land.

(4) In case of sale or lease of part of a building, the value of land shall be computed proportionately.

(5) For the purpose of sub-rule (1) and (4) the value of land shall include the proportionate value of land related to common area facilities like road, parking, community hall, etc.

(6) For the purpose of Section 9-B and this rule, the market value shall be the value computed on the basis of guidelines prepared under the Madhya Pradesh Preparation And Revision of Market Value Guideline Rules, 2000.