Amendment status not verified — confirm the current text below against the official source.
(1) The amount payable as compensation in ~car:i~:tio:· respect of any land acqu~red ~mder this Act shall of compcn- be an amount equ'll to sixty times the net average •ation. monthly income actually derived from such land during the period of five consecutive years immediate- ly preceding the date of publication of the notice rt>ferred to in Section 16. (2) The net average monthly _income referred to in sub-section (1) shall be calculated on the following basis:- (i) The Authority shall first determine the gross rent actually derived by the owner of the land acquired including any building on such land during the period of five conse- cutive years referred to in sub-sect ion (1). (ii) For such determination the Authority may hold any local inquiry and obtain, if neces· sary, certified copies of extracts froni the property tax assessment books of · the muni- cipal or other local authority concerned showing the rental value of such land. (iii)' The net average monthly income referred o in sub-section (1) shall be sixty per cent 95 of the average monthly gross rent which shall be one-sixtieth of the gross rent during the five consecutive years as determined by the Authority under paragraph (i). (iv) Forty per cent of the gross monthly rental referred to above shall not be taken into consideration in determining the net average monthly income but shall be deducted in lieu of the expenditure which the owner of the land would normally incur for payment of any property tax to the municipal or other local authority, for collection charges, in- come-tax or bad debts as well as for works of repair and maintenance of the buildings, if any, on _ the land. · (v) Where the land or any portion thereof has been unnccupied or the owner has not been in receipt of any rent for the occupation of the land during the whole or any part of the said period of five years, the gross rent shall be taken to be the income which the owner would in fact have derived if the land had been leased out for rent during the said pericd, and· for this purpose the rent actually derived from the land during a period prior or subsequent to the period during which it remained vacant or from similar land in the vicinity shall be taken into account. (3) The Authority shall, after holding an inquiry in the prescribed manner, determine in accordance with the provisions of sub-section (2) the net average monthly income actua:ly derived from the land and publi~h a notice in the official Gazette specifying the amount s ) determined and calling upon the owner of the lanrl and every person interested therein to intimate to it before a date specified in the notice whether such owner or person agrees to the amount 10 determined and if he does not so agree, what amount he claims to the net average monthly income actually derived from the land. (4) Any person who does not agree to the amount of the net average monthly income determined by the authority under sub-section ( 3) anrl claims a sum in excess of that amount may prefer an appeal to the Appellate Authority within thirty days from the date specified in the notice referred to in that sub- se tion. (5) On appeal, the . Appellate Authority shall, after hearing the appellant, determined the net average monthly income and his determination shall be final and shall not be questioned in any court 9flaw, 96 (6) Where there is any buildi.ng on the land in respect of which the net average monthly income has been determined no separate compensation shall be paid in respect of such building: Provided that where the owner of th~ land and the owner of the building on such land are different, the Authority shall apportion the amount of compensation between the owner of the land and the owner of the building in such proportion as it considers reaso- nable: Pr0vided further that the compensation in respect of the building shall not in any case exceed fifty per cent of the total amount of compensation which has been determined in accordance with the provisions of this Section. Apportion-