1. Challenge in this petition under Article 226 of the Constitution of India is to the legality and validity of the Market Value Guidelines (Annexure-P/3) published by the Central Valuation Board/District Valuation Committee, Raipur, prescribing the market value of the property on which the stamp duty will be charged for transfer of the immovable property during the financial year 2015-16.

2. Petitioner is a colonizer and has started construction of a commercial complex after obtaining required permission from different statutory bodies. Prospective buyers are willing to purchase the property constructed by him, however, in view of the guidelines determining the market value, which is many more times than the actual market value, the property is beyond the reach and capacity of the prospective buyer, therefore, it prejudiced the rights of the petitioner as well as of the buyers.

3. Challenge is specifically thrown by citing examples that for Ward No. 23 Rani Laxmi Bai Ward the market value of the property falling between Khamtarai Police Station to Divisional Railway Office, up to Waltair Railway Crossing, is fixed at Rs. 15,000/- per sq. mtr. when the property is not on the m