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Section 7: Amendment of section 109

The Karnataka Municipal Corporations (Amendment) Ordinance, 2003.State Ordinance of Karnataka · No. 14 of 1977

In section 109 of the principal Act,-

(1) in sub-section (1),-

(i) for the words "together with its land", the words "together with the land occupied by it" shall be substituted;

(ii) for the words "estimated market value of the land notified by the Government" the words "market value guidelines of properties published" shall be substituted;

(iii) for the words, letter and figures "the estimated cost of erecting the building minus depreciation at the time of assessment, determined as far as may be based on the method adopted by the Public Works Department, as specified in Schedule III", the words, figure and letter "assessed having regard to the market value guidelines of properties published under section 45B of the Karnataka Stamp Act, 1957 minus depreciation at the time of assessment as may be prescribed" shall be substituted.

(2) in sub-section (2) for the words "estimated market value of the land notified by the Government", the words "market value guidelines of properties published" shall be substituted.

Where this provision sits

ActThe Karnataka Municipal Corporations (Amendment) Ordinance, 2003.
Section7
Marginal noteAmendment of section 109
JurisdictionState of Karnataka
StatusIn force as published by the source

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