Section 102 Difference in price of land when transferred for higher consideration to be shared, Section 103 Provisions to be an addition to existing laws - The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act 2013

Difference in price of land when transferred for higher consideration to be shared and Provisions to be an addition to existing laws - Section 102 and 103 of Land Acquisition Act 2013

 

 

Difference in price of land when transferred for higher consideration to be shared and Provisions to be an addition to existing laws are defined under section 102 and 103 of Land Acquisition Act 2013. Provisions under these Sections are :

 

Section 102 of Land Acquisition Act 2013 "Difference in price of land when transferred for higher consideration to be shared"

Whenever the ownership of any land acquired under this Act is transferred to any person for a consideration, without any development having taken place on such land forty per cent of the appreciated land value shall be shared amongst the persons from whom the lands were acquired or their heirs. in proportion to the value at which the lands were acquired within a period of five years from the date of acquisition:

Provided that benefit shall accrue only on the first sale or transfer that occurs after the conclusion of the acquisition proceedings.

 

Section 103 of Land Acquisition Act 2013 "Provision to be in addition to existing laws"

The provisions of this Act shall be in addition to and not in derogation of any other law for the time being in force.