JUDGMENTBY: LORD DIPLOCK

(delivering the judgment of the Board): In June 1964 the land of which the market value is in dispute in the instant appeals was held in undivided shares by ten owners, of whom the first respondent (herein called "Alagappa") held a one-half share and the second respondent (herein called "Ong Thye Eng") held a one-twelfth share. The land was situate in Kuala Lumpur. It was 991,730 square feet viz. about 23 acres in extent. Alagappa had held his one-half share for many years; but Ong Thye Eng and the other eight co-owners had purchased the remaining half-share between them as recently as November 5, 1963, at a price of $ 1.10 per square foot from Devarayan Chettiar (herein called "Deverayan") who had himself become sole owner of that one-half share in 1962 as a result of a distribution of assets of a partnership on dissolution.

Notice that the land was likely to be acquired under the Land Acquisition Act 1960 was given on June 4, 1964. This was the relevant date at which its market value fell to be ascertained. The collector valued it at$ 2,975,190.00 or $ 3 per square foot. This was the valuation put upon it in a report by the Government valuer. The tota