Bare ActsThe URBAN LAND (CEILING AND REGULATION) ACT, 1976

Section 14

Amendment status not verified — confirm the current text below against the official source.

(1) The State Government shall, within a period of six months from the date of the order of the competent authority determining the amount to be maid under section 11, or, in a case where an appeal has been preferred against such order under section 12 or under section 13, within a period of six months from the date of the final appellate order, pay the amount referred to in section 11 to the person or persons entitled thereto. or 19T6j Urbatt Lund (Ceiting and fiegulottott) (2) Twenty-five per cent. of the amount or twenty-five thousand rupees, whichever isless, shall be paid in cash and the balance in negoti- able bonds redeemable otter the expiry of twenty years carrying an interest at the rate of five per cent. per annum with effect from thedate Off which the vacant land isdeemed tohave been acquired by the State Government under sub-section ‹3) of section 10. 15.( 1) IN, on or after the commencement of this Act, any person ac- quires by inheritance, settlement or bequest from any other person or by sale in execution ofa decree or order ofa civil court or of an award or order of any other authority or by purchase or otherwise, any vacant land the extent of which together with the extent of the i'acant land, if any,o lready held by him exceeds in the aggregate the ceiling limit, then, he shall, within three months ofthe date of such acquisition, filea state- ment before the competent authority having jurisdiction specifying the location, value and such other particulars as may be prescribed of all the vacant lands held by him and also specifying the vacant lands within the cciling limit which Ice desires to retain. (2) The provisions of sections6 to 14 (both inclusive) shall, so far as may be. apply to the statement filed under this section and to the vacant land held by such person in exces.s of the ceiling limit.

Section 14 – The URBAN LAND (CEILING AND REGULATION) ACT, 1976 | DailyLaw.ai