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.
Section 48: Payment of interest.
The Maharashtra Housing and Area Development Act, 1976.State Act of Maharashtra · Act 28 of 1977
Where this provision sits
| Act | The Maharashtra Housing and Area Development Act, 1976. |
|---|---|
| Section | 48 |
| Marginal note | Payment of interest. |
| Jurisdiction | State of Maharashtra |
| Status | In force as published by the source |
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