72D. [ Purchase price. [Substituted by Act No. 35 of 1969.]
(1)The cultivating tenant shall be liable topay purchase price to the Government on the assignment to him of the right, title and interest of the landowner and the intermediaries, if any.(1A)[ Where the total extent of land held as tenant by a cultivating tenant is one hectare or below, he shall not be liable to pay purchase price under Sub-section (1).Explanation. - For the removal of doubt it is hereby clarified that the benefit conferred to a cultivating tenant until r this Sub-section shall not affect the eligibility of the landowner or intermediary, if any, to receive compensation to which he is entitled under the Act.](2)The purchase price referred to in Sub-section (1) shall be the aggregate of:(a)sixteen times the fair rent of the holding or part thereof, the right, title and interest in respect of which have been assigned to the cultivating tenant;(b)the value of structures, well and embankments of a permanent nature which belonged to the landowner and the intermediaries, if any, at the time of vesting in the Government:(c)one-half of the value of timber trees which belonged to the landowner and the intermediaries, if any, at the time of vesting in the Government;Provided that where the aggregate of the value of structures, wells and embankments and one-half of the value of timber trees referred to in clauses (b) and (c) exceeds sixteen times the fair it in respect of the holding or part thereof, as the case may be, such aggregate value shall, for the purpose of calculating the purchase price under this Sub-section, be limited to sixteen times such fair rent.Explanation. - For the purposes of this Section, where the rent is payable in kind, the money value of the rent shall be commuted at the average of the prices of the commodity for the six years immediately preceding; the year in which the right, title and interest of the landowner and intermediaries have vested in the Government, and in calculating the average of the prices, the prices, if any, published under Section 43 may also be taken into account.]
