Urban Land (Ceiling and Regulation) Act,1976

Act No : 33

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Section : Mode of payment of amount.

14. Mode of payment of amount. (1) The State Government shall, within a period of six months from the date of the order of the competent authority determining the amount to be paid under section 11, or, in a case where an appeal has been preferred against such order under section 12 or under section 13, within a period of six months from the date of the final appellate order, pay the amount referred to in section 11 to the person or persons entitled thereto. 209 (2) Twenty-five per cent. of the amount or twenty-five thousand rupees, whichever is less, shall be paid in cash and the balance in negotiable bonds redeemable after the expiry of twenty years carrying an interest at the rate of five per cent. per annum with effect from the date on which the vacant land is deemed to have been acquired by the State Government under sub-section (3) of section 10.

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