Section 14C(2) in The Jammu and Kashmir State Evacuees' (Administration of Property) Act, 2006
(2)Where any property mentioned in sub-section (1) is redeemed by the owner (mortgagor) thereof, it shall be lawful for the Government notwithstanding anything in this Act, to-(a)transfer to the owner, in lieu of the property, any immovable property belonging to the Government having the same value; or(b)acquire such property by publishing a notification in the Government Gazette to the effect that the Government has decided to acquire such land in pursuance of this section.