(1) The amount payable as compensation in respect of any land acquired under this Act shall be an amount equal to twelve times the net average annual income actually derived from such land during the period of five consecutive years immediately preceding the date of publication of the notice referred to in sub-section (2) of section 3.
(2) The net average annual income referred to in sub-section (1) shall be calculated in the manner and in accordance with the principles set out in the Schedule to this Act.
(3) The prescribed authority shall, after holding an inquiry in the manner prescribed, determine in accordance with the provisions of sub-section (2), the net average annual income actually derived from the land and publish a notice in the Telangana Gazette specifying the amount so determined and calling upon every person interested to intimate to it before a date specified in the notice whether such person agrees to the amount determined and if not what amount he claims to be the net average annual income actually derived from the land.
(4) (a) Any person who does not agree to the amount of the net average annual income determined by the prescribed authority under sub-section (3) and claims a sum in excess of that amount, may prefer an appeal to the court within thirty days from the date specified in the notice referred to in that sub-section.
(b) In a case where the amount claimed by the person concerned exceeds twenty-five thousand rupees, a second appeal on any question of law shall lie against any decision of the court under clause (a) to the High Court within thirty days from the date of such decision.