Amendment status not verified — confirm the current text below against the official source.
Paydzent of compensation to owners of properties sold and vested in Go)e rnment.—( 1) The owners of the properties sold and vested in Governmei t under this Act shall be entitled for an amount by way of compensation at the rate of the market value of the land prevalent in the area as on the date of commencement of this Act. The Commissioner shall be competent to fix the market value as compensation payable. under sub-section (l) In the matter of - fixation of ccmpensation under sub-section (1), the Commissioner shall have all the powers of a Collector under the Land Acquisition Act; frhe owners of the land shall be entitled' to interest at the rate of 12% per annum on, the amount so fixed by the Coihmissioner or in appeal, asl the case may be, from the date of commencement of this Act till the date of paymentof the amount to.hiin: a. CHAPTER IV MANAGEMENT, ETC., OF THE UNDERTAKING