How is the Specified Value of the subject-matter of a commercial dispute determined when the relief sought relates to immovable property or a right therein under Commercial Courts Act?

Solution

Section 12. Determination of Specified Value: (1) The Specified Value of the subject-matter of the commercial dispute in a suit, appeal or application shall be determined in the following manner:-- (c) where the relief sought in a suit, appeal or application relates to immovable property or to a right therein, the market value of the immovable property, as on the date of filing of the suit, appeal or application, as the case may be, shall be taken into account for determining Specified Value.