Amendment status not verified — confirm the current text below against the official source.
(1) Any person having any interest in any land or hut or Compen- structure acquired under this Act shall be entitled to receive from satin". the State Government compensation calculated according to the principles enumerated below, namely (a) For the interest of the owner of the land— compensation equal to the sum of- 11 Value of the land determined according to the following table Table Amount of purchase price. (I) For the fast Rs. 5,000 or less of the amount of pur- chase price. (2) For the next Rs. 5,000 or less of the amount of pur- chase price. (3) For the next Rs. 5,000 or less of the amount of pur- chase price. (4) For the next Rs. 5,000 or lees of the amount of pur- chase price. For the balance of the pur- chase price. (5) Value for pur- pose of com- pensation. 100 per centum of the amount. 80 per centum of the amount. 70 per centum of the amount. 60 per cantina of the amount. 55 per centum of the amount. and, (ii) Ten times the net annual income derived or derivable by the owner from any huts and structures owned by him. Explanation.—"Purchase price" means the price which the land fetched or could have fetched in any trans- action involving the sale or purchase thereof on the Slat day of December, 1946. (b) For the interest of a lessee or a sub-lessee of the land— compensation equal to the amount derivable by him for the unexpired period of the lease calculated on the basis of his net annual income from the land and from any huts and structures owned by him provided that when the unexpired period of the lease is ten years or The Calcutta Slum. Clearance and Rehabilitation ;.,o Slum-dwellers Act, 1958. [West Ben.. Ael (Section 7.) more or when the period of the lease is not specified, the amount of compensation shall not exceed the amount indicated in the following table : Table Amount of the net annual in- Amount of eompenea- come. tion. For the first Rupees One Twenty times the hundred or less of the net amount. annual income. For the next Rupees One Fifteen times the hundred and fifty or less of amount. net annual income. For the balance of the net Ten times the annual income. amount. Explanation.—A lessee or sub-lessee will include a thika tenant as defined in the Calcutta Thika Tenancy Acts West Ben. 1949, or a tenant who does not hold under an instal- Act cif