What is the legal meaning of the phrase ‘value of suit land’?


Suit property which is mentioned in the plaint in the court. It is applicable to only that land or floor which is the subject matter of the Suit, It can be established that subject matter of the suit is the particular thing in respect of which the suit has been filed. It can either be some property upon which the plaintiff exercises his legal right or it can be a personal right of the plaintiff not related to any property. Here the value of suit land means the market value of the property is disputed in the land.
Land value is the worth of a piece of property, which includes both the value of the land itself and any enhancements made to it. It should not be confused with site value, which is the land’s fair value if there are no rentals, mortgages, or anything else present that would otherwise affect the value of the property.
Market value of a property is its cost at which the property can be bought in an open market on the date of the execution of the sale agreement. The stamp duty is paid on the agreement value of the property or its market value whichever is higher.




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