Amendment status not verified — confirm the current text below against the official source.
(1) Where any immovable property is requisitioned or acquired under this Act, there shall be paid compensation the amount of which shall be determined in the manner and in accordance with the principles hereinafter set out, that is to say,- (a) where the amount of compensation can be fixed by agreement, it shall be paid in accordance with such agreement; (b) where no such agreement can be reached, the Government shall, within two months of taking possession of the property under Section 4 or of the publication of the notice under sub-section (1) of Section 7, as the case may be, direct the District Collector within whose jurisdiction the property is situate to determine the amount of compensation; (c) on receipt of a direction under clause (b), the District Collector shall, after such inquiry as may be prescribed and such further inquiry as he considers necessary, make an award determining the amount of compensation which appears to him to be just and specifying the person or persons to whom such compensation shall be paid, and in making the award, he shall have regard to the circumstances of each case and the provisions of sub-sections (2) and (3) so far as they are applicable; (d) where there is a dispute as to the person or persons who are entitled to the compensation, the District Collector shall decide such dispute and if the District Collector finds that more persons than one are entitled to compensation, he shall apportion the amount thereof, among such persons. (2) The amount of compensation payable for the requisitioning, of any immovable property shall consist of- (a) a recurring payment, in respect of the period of requisition, of a sum equal to the rent which would have been payable for the use and occupation of the immovable property if it had been taken on lease for that period; and (b) such sum or sums, if any, as may be found necessary to compensate the person interested for all or any of the following matters, namely:- (i) pecuniary loss due to requisitioning; (ii) expenses on account of vacating the requisitioned premises; (iii) expenses on account of re-occupying the premises upon release from requisition; and (iv) damages (other than normal wear and tear) caused to the immovable property during the period of requisition, including the expenses that may have to be incurred for restoring the same to the condition in which it was at the time of requisition. (3) The compensation payable for the acquisition of any immovable property under Section 7 shall be the price which the requisitioned immovable property would have fetched in the open market, if it had remained in the same condition as it was at the time of requisitioning and been sold on the date of acquisition.