Amendment status not verified — confirm the current text below against the official source.
Substituted by Act 56 of 2025 w.e.f. 10.09.2025. 1[(IB) in cases where the land in any area, cannot be utilized for the purpose of industrial development, educational institutions, Places of worship, a Housing Project approved by the State Government or Horticulture purpose under sub-section (1) within the prescribed time, such land shall be surrendered to the land bank of the Government, failing which the exemption shall be cancelled and same be forfeited to the Government without paying compensation.]1 . 1. Inserted by Act 27 of 2014 w.e.f. 28.08.2014 (2) Where any condition or restriction specified in the notification under sub-section (1), has been contravened, the 1[State Government or as the case may be, the Deputy Commissioner may]1 after holding an enquiry as 1[it or he deems fit]1, cancel the exemption granted under that sub-section and the land in respect of which such cancellation has been made, shall, as penalty be forfeited to and vest in the State Government free from all encumbrances. No amount is payable therefor.]1