Determination of reasonable price for purpose of transfer

(1) Except as otherwise provided in this Chapter, the Collector shall determine the reasonable price for the purpose of transfer of land including structures, wells, embankments constructed, permanent fixtures and trees planted on the land under the provisions of section 119, within a period of three months from the date of receipt of notice, and shall take into consideration the following factors for determining such price- (a) the rental value of land used for similar purpose in the locality ; (b) the structures, wells, embankments constructed or permanent fixtures affixed to, and trees planted on, the land ; (c) the profits from agriculture in respect of similar lands in the locality; (d) the price of crops and commodities current in the locality; (e) the improvements made in or on the land; (f) the land revenue and cesses and other sum payable in respect of the land ; and (g) such other factors as may be prescribed. (2) The reasonable price determined by the Collector under sub-section (1) shall be final when confirmed by the State Government.