The First Schedule
[See Section 31 (2)]
Compensation for Land Owners
The following components shall constitute the minimum compensation package to be given to those whose land is acquired and to tenants referred to in clause (c) of section 3 in a proportion to be decided by the appropriate Government.
S. No |
Component of compensation package in respect of land acquired under the Act |
Manner of determination of value |
Date of determination of value |
1. |
Market value of land |
To be determined as provided under section 26. |
|
2. |
Factor by which the market value is to be multipled in the case of rural areas |
1.00 (One) to 2.00 (Two) based on the distance of project from urban area, as may be notified by the appropriate Government |
|
3. |
Factor by which the market value is to be multipled in the case of urban areas |
1 (One). |
|
4. |
Value of assets attached to land or building |
To be determined as provided under section 31. |
|
5. |
Solatium |
Equivalent to one hundred per cent. of the market value of land mentioned against serial number 1 multiplied by the factor specified against serial number 2 for rural areas or serial number 3 for urban areas plus value of assets attached to land or building against serial number 4 under column (2). |
|
6. |
Final award in rural areas |
Market value of land mentioned against serial number 1 multiplied by the factor specified against serial number 2 plus value of assets attached to land or building mentioned against serial number 4 under column (2) plus solatium mentioned against serial number 5 under column (2). |
|
7. |
Final award in urban area |
Market value of land mentioned against serial number 1 multiplied by the factor specified against serial number 3 plus value of assets attached to land or building mentioned against serial number 4 under column (2) plus solatium mentioned against serial number 5 under column (2). |
|
8. |
Other component, if any, to be included |
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Note - The date on which values mentioned under column (2) are determined should be indicated under column (4) against each serial number |
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