Land Law: Acquisition Of Land And Compensation Law

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By Accommodation Times Bureau

The CBA Act provides for assessment of compensation on the basis of the market value on the date of notification under section 4(1) of the said Act and it is determined by taking into account the average of the last three years registered sale deeds in the locality and also the ready reckoner rate for the year of notification under section 4(1) of the said Act, prescribed by the State Governments. In addition to the market value so determined, solatium @ 30% of the market value, escalation @ 12% per annum from the date of notification under section 4(1) to the date of notification under section 9(1) of the said Act or for a period of 36 months, whichever is less, interest for delayed payment from the date of notification under section 9(1) of the said Act @ 9% per annum for the first year and 15% per annum for the subsequent years are also being paid to the land losers.

In addition to the above, the following Rehabilitation and Resettlement (R&R )benefits are also provided to Project Affected Persons by the public sector coal companies:-

(a) Alternative house site measuring 100 Sq. meter per family with all necessary infrastructure.





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