The latest land acquisition act has provisions to provide fair compensation to those whose land is taken away, brings transparency to the process of acquisition of land to set up factories or buildings, infrastructural projects and assures rehabilitation of those affected.
Section 27 of the Act defines the method by which market value of the land shall be computed under the proposed law. Schedule I outlines the proposed minimum compensation based on a multiple of market value. Schedule II through VI outline the resettlement and rehabilitation entitlements to land owners and livelihood losers, which shall be in addition to the minimum compensation per Schedule I.
94. Completion of acquisition not compulsory, but compensation to be awarded when not completed.
1. The appropriate Government shall be at liberty to withdraw from the acquisition of any land of which possession has not been taken.
2. Whenever the appropriate Government withdraws from any such acquisition, the Collector shall determine the amount of compensation due for the damage suffered by the owner in consequence of the notice or of any proceedings there under, and shall pay such amount to the person interested, together with all costs reasonably incurred by him in the prosecution of the proceedings under this Act relating to the said land.
The referred section 24 shall be Enquiry and land acquisition award by Collector.
the compensation as determined under section 28 along with Rehabilitation and Resettlement award as determined under section 32 and which in his opinion should be allowed for the land; and
the apportionment of the said compensation among all the persons known or believed to be interested in the land, or whom, or of whose claims, he has information, whether or not they have respectively appeared before him.