Land Acquistion

UUCS I IUN 1 Lot 99. Mukim Lambor Kiri. Daerah Perak Tengah. Perak is a freehold agriculture land planted with 8 years old oil palm. This schedule land is a road frontage lot having an area of 9 acres and was gazette under Malay Reservation Land. On 20'" August 2017. a gazette notication under Section 4 of Land Acquisition Act 1960 (amended) was issued by the Land Administrator intending to acquire 4 acres of Lot 99 for \"Kerian Agro Tourism Centre\".Upon satised with the land. a declaration under section 8 was made dated on 22"\" August. 2018. In determining the market value of the scheduled land using the comparison approach. you have gathered the following sales transactions of agriculture land within the vicinity. W-- (acre) Transaction (RWPer Acre) 12 - 15.5.2017 Road Frontage. Malay Reservation Land. Freehold and Planted with 8 ears old oil palm 17 5.8.2018 - 7.000 Road Frontage. Freehold and planted with 7 years old oil palm 14.2018 - Road Frontage. Freehold and planted with 6 years old oil palm 22 8.8 11.8.2018 29.000 Road Frontage. Leasehold 99 years with unexpired term 82 years and planted with 6 years old oil palm ' 0.000 Road Frontage. Freehold and planted with 8 years old oil palm Based on the Paragraph 1 of the First Schedule of the Land Acquisition Act 1960 (Amended). explain the application of the principles to be considered in determining the market value for the above situation