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Section 34 – Land Acquisition Act, 1894

Land Acquisition Act, 1894

 

34. Payment of interest

 

When the amount of such compensation is not paid or deposited on or before taking possession of the land, the Collector shall pay the amount awarded with interest thereon at the rate of 1[nine per centum per annum from the time of so taking possession until it shall have been so paid or deposited.

 

2[Provided that if such compensation or any part thereof is not paid or deposited within a period of one year from the date on which possession is taken, interest at the rate of fifteen per centum per annum shall be payable from the date of expiry of the said period of one year on the amount of compensation or part thereof which has not been paid or deposited before the date of such expiry”.]

 

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1. See Act No. 68 of 1984, sec. 30 (3)regarding it’s application to certain cases of possession of acquired land before, on or after 30-4-982.

 

2. Ins by Act No. 68 of 1984, sec. 20 (w.e.f 24-9- 1984).

 

 

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Land Acquisition Act, 1894

 

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