Section 48 in Maharashtra Housing and Area Development Act, 1976
48. Payment of interest.
- When the amount for acquisition is not paid or deposited on or before taking possession of the land, the Land Acquisition Officer on behalf of the State Government shall pay the amount determined with interest thereon, from the date of taking possession until the amount is paid or deposited, at the rate of 4 per cent per annum for the first six months, and thereafter at the rate of 9 per cent per annum.
