26. Compensation in respect of land vested in the Board.
(1)Where any land vests in the Board under the provisions of section 25 and the Board makes a declaration that such land shall be retained by the Board only until it revests in the corporation, the municipal council, municipal committee, or municipal body, the [x x x] [Omitted by Act 8 of 1988 w.e.f. 1.5.1988.] , [town panchayat or the Grama panchayat ] [Substituted by Act 24 of 2016 w.e.f. 28.07.2016.], or the [mandal panchayat] [Substituted by Act 8 of 1988 w.e.f. 1.5.1988.], as the case may be, as part of a street or an open space under section 29, no compensation shall be payable by the Board to the corporation, the municipal council, municipal committee, or municipal body, the [x x x] [Omitted by Act 8 of 1988 w.e.f. 1.5.1988.], [town panchayat or the Grama panchayat ] [Substituted by Act 24 of 2016 w.e.f. 28.07.2016.], or the [mandal panchayat] [Substituted by Act 8 of 1988 w.e.f. 1.5.1988.] in respect of that land.(2)Where any land vests in the Board under section 25 and no declaration is made under sub-section (1) in respect of the land, the Board shall pay to the corporation, the municipal council, municipal committee or municipal body, [x x x] [Omitted by Act 8 of 1988 w.e.f. 1.5.1988.] , [town panchayat or the Grama panchayat ] [Substituted by Act 24 of 2016 w.e.f. 28.07.2016.] , or [mandal panchayat] [Substituted by Act 8 of 1988 w.e.f. 1.5.1988.], as the case may be, as compensation, a sum equal to the value of such land.(3)If, in any case where the Board has made a declaration in respect of any land under sub-section (1), the Board retains or disposes of the land contrary to the terms of the declaration so that the land does not revest in the corporation, the municipal council, municipal committee or municipal body, the [x x x] [Omitted by Act 8 of 1988 w.e.f. 1.5.1988.], [town panchayat or the Grama panchayat ] [Substituted by Act 24 of 2016 w.e.f. 28.07.2016.], or [mandal panchayat] [Substituted by Act 8 of 1988 w.e.f. 1.5.1988.] , as the case may be, the Board shall pay to the corporation, the municipal council, municipal committee or municipal body, the [x x x] [Omitted by Act 8 of 1988 w.e.f. 1.5.1988.], [town panchayat or the Grama panchayat ] [Substituted by Act 24 of 2016 w.e.f. 28.07.2016.], or the [mandal panchayat] [Substituted by Act 8 of 1988 w.e.f. 1.5.1988.], compensation in respect of such land in accordance with the provisions of sub-section (2).
