The judgment below is reversed, and the case is remanded to the Daegu High Court.

The grounds of appeal are examined.

1. Article 48(1) of the former Act on the Maintenance and Improvement of Urban Areas and Dwelling Conditions for Residents (amended by Act No. 11293, Feb. 1, 2012; hereinafter “former Act”) provides that a project implementer (excluding a residential environment improvement project) shall establish a management and disposal plan including the following matters based on the current status of application for parcelling-out under Article 46 when the period for application for parcelling-out expires under Article 46, and obtain authorization from the head of a Si/Gun. As part of the matters to be included in the management and disposal plan under subparagraph 4, one of the following matters refers to the price of the previous land or buildings by a person subject to parcelling-out (in cases of buildings removed pursuant to Article 48-2(2) prior to the authorization for the implementation of a project, based on the date of obtaining permission from the head of a Si/Gun) and Article 48(2) provides that a project implementer shall comply with the following standards, and that one of the criteria for formulating a management and disposal plan under subparagraph 1, the area of the previous land or buildings for parcelling-out.

In addition, when evaluating the previous asset prices, etc. in the housing redevelopment project or urban environment rearrangement project, paragraph (5) 1, it shall be calculated by calculating the arithmetic mean of the values appraised by at least two appraisal business entities selected and contracted by the head of a Si/Gun among appraisal business entities under the Public Notice of Values and Appraisal of Real Estate Act: Provided, That where intending to modify, suspend or abolish a management and disposal plan, the estimated value of the site or structure scheduled for parcelling-out and the prices of the previous land