72. Amount payable for lands surrendered to and vesting in the State Government.—
(1)Save as otherwise provided in this Act, the amount payable in respect of land to be taken over by the State Government under sections 68, 70, 71, 79A and 79B shall be determined with reference to the net annual income derivable from the land in accordance with the following scale, namely:—(i)for the first sum of rupees five thousand or any portion thereof of the net annual income from the land, fifteen times such sum or portion;(ii)for the next sum of rupees five thousand or any portion thereof of the net annual income from the land, twelve times such sum or portion;(iii)for the balance of the net annual income from the land, ten times such balance:Provided that where the land taken over by the State Government is D Class land referred to in Part A of Schedule I, an amount equal to twenty times the net annual income thereof shall be payable.(2)For the purpose of sub-section (1), the net annual income from the land shall be deemed to be the amount payable as annual rent in respect of the land as specified in section 8. But where in a land assessed as wet land or dry land, the owner has raised fruit bearing trees, the net annual income of such land for purposes of sub-section (1) shall be determined on the basis of assessment for garden land which could have been levied having regard to the nature of the fruit bearing trees.(3)The amount under sub-section (1) shall be payable as follows:—(a)to the tenant, if any, in possession of the land, an amount equal to one year’s net annual income;(b)to the owner, the balance.(4)Where there are wells or other structures of a permanent nature on the land, constructed by the owner then, the value thereof calculated in the prescribed manner shall also be payable.(5)Notwithstanding anything in sub-sections (1) and (4), the aggregate amount payable according to the said sub-sections shall not exceed rupees two lakhs.(6)Deleted;
