Amendment status not verified — confirm the current text below against the official source.
(1) Any lease of agricultural land belonging to lease of Agricultural Lands, or given or endowed for the purpose of any institution or endowment subsisting on the date of commencement of this Act shall, notwithstanding anything in any other law for the time being in force, held by a person who is not a landless poor person stand cancelled. (2) In respect of leases of agricultural lands 1[other than those lands situated in Municipal and Municipal Corporations] held by landless poor person for not less than six years continuously, such person shall have the right to purchase such lands for a consideration of seventy five per-centum of the prevailing market value of similarly situated lands at the time of purchase and such consideration shall be paid in four equal instalments in the manner prescribed. Such sale may be effected otherwise than by tender-cum-public auction: 2[Provided that if such small and marginal farmers who are hot able to purchase the land will continue as at least two third of the market rent for similarly placed lands as lease amount. Explanation I:- For the purpose of this ‘sub-section ‘landless poor person’ means a person whose total extent of land held by him either as owner or as cultivating tenant or as both does not exceed 1.011715 hectares (two and half acre) of wet land or 2.023430 hectares (five acres) of dry land and whose monthly income other than from such lands does not exceed thousand rupees