Alternative to the 'fair market value' approach to calculating compensation in cases where land markets are weak or non-existent

Details

Measurement unit
Index (A; C)
Best value is
High

This indicator asks whether national laws provides alternative approaches to the fair market value approach in cases where land markets are weak or non-existent. This indicator is based on Section 16.3 of the VGGTs, which states "States should ensure a fair valuation and prompt compensation in accordance with national law." Furthermore, section 18.2 of the VGGTs provides "Policies and laws related to valuation should strive to ensure that valuation systems take into account non-market values, such as social, cultural, religious, spiritual and environmental values where applicable." Answering the question posed by the indicator entailed reviewing a broad range of legally binding laws, regulations, and court decisions at the national level.