COMPENSATION FOR LAND OWNERS
The following components shall constitute the minimum compensation package to be given
to those whose land is acquired and to tenants referred to in clause (c) of section 3 in a proportion
to be decided by the appropriate Government.
Serial
No.
Component of compensation
package in respect of land
acquired under the Act
Manner of determination of value Date of
determination
of value
(1) (2) (3) (4)
1. Market value of land To be determined as provided under section 26.
2. Factor by which the market value
is to be multiplied in the case of
rural areas
1.00 (One) to 2.00 (Two) based on the distance of
project from urban area, as may be notified by the
appropriate Government.
3. Factor by which the market value
is to be multiplied in the case of
urban areas
1(One).
4. Value of assets attached to land
or building
To be determined as provided under section 29.
5. Solatium Equivalent to one hundred per cent. of the market
value of land mentioned against serial number 1
multiplied by the factor specified against serial
number 2 for rural areas or serial number 3 for urban
areas plus value of assets attached to land or
building against serial number 4 under column (2).
6. Final award in rural areas Market value of land mentioned against serial
number 1 multiplied by the factor specified against
serial number 2 plus value of assets attached to land
or building mentioned against serial number 4 under
column (2) plus solatium mentioned against serial
number 5 under column (2).
7. Final award in urban areas Market value of land mentioned against serial
number 1 multiplied by the factor specified against
serial number 3 plus value of assets attached to land
or building mentioned against serial number 4 under
column (2) plus solatium mentioned against serial
number 5 under column (2).
8. Other component, if any, to be
included
NOTE.–The date on which values mentioned under column (2) are determined should be indicated
under column (4) against each serial number.