Purchase price.

§47

Summary

In respect of any land, the ownership of which stands transferred to or vests in the tenant under section 46, the tenant shall pay to the landlord the price of the land which shall be reckoned as follows :- (1) The aggregate shall be taken of the following amounts, that is to say- (i) an amount- (a) equal to ten times the rent of the land in the case of an occupancy tenant holding the land from a Bhumiswami, (b) equal to seven times the rent of the land in the case of an occupancy tenant holding the land from a Bhumidhari, and (c) not exceeding twelve times the rent of the land in the case of any other tenant; (ii) the amount of the arrears of rent, if any, lawfully due on the date on which the ownership of the land stands transferred to the tenant under section 46; (iii) the depreciated value of any structures, wells and embankments constructed and other permanent fixtures made and trees planted by the landlord on the land after the period of the last Settlement or where no such Settlement is made during the period of thirty years before the commencement of this Act, if the purchase is by a tenant other than an occupancy tenant; (iv) the amounts, if any, paid by or recovered from the landlord as land revenue, canal revenue and cesses referred to in sub-section (1) of section 17, in the event of the failure on the part of the tenant to pay the same. (2) Where a tenant to whom sub-section (3) of section 17 applies, has, after the commencement of this Act, paid in respect of the land held by him as tenant, land revenue and other cesses referred to in sub-section (1) of that section on account of the failure of the landlord to pay the same, a sum equal to the total amount so paid by the tenant until the date of the determination of the purchase price shall be deducted from the aggregate of the amount determined under clause (1). (3) (a) On the aggregate amount arrived at in accordance with the provisions of clauses (1) and (2) there shall be calculated interest at 4½ per cent. per annum for the period between the date on which the ownership of the land stands transferred to and vests in the tenant under section 46 and the date of the determination of the purchase price. (b) (i) The amount of interest so calculated shall be added to the aggregate amount so arrived at, and (ii) the amount of rent, if any, paid by the tenant to the landlord and the value of any products or trees planted by the landlord if such products are removed by the landlord during the said period shall be deducted from the aggregate amount so arrived at.

In respect of any land, the ownership of which stands transferred to or vests in the tenant under section 46, the tenant shall pay to the landlord the price of the land which shall be reckoned as follows :- (1) The aggregate shall be taken of the following amounts, that is to say- (i) an amount- (a) equal to ten times the rent of the land in the case of an occupancy tenant holding the land from a Bhumiswami, (b) equal to seven times the rent of the land in the case of an occupancy tenant holding the land from a Bhumidhari, and (c) not exceeding twelve times the rent of the land in the case of any other tenant; (ii) the amount of the arrears of rent, if any, lawfully due on the date on which the ownership of the land stands transferred to the tenant under section 46; (iii) the depreciated value of any structures, wells and embankments constructed and other permanent fixtures made and trees planted by the landlord on the land after the period of the last Settlement or where no such Settlement is made during the period of thirty years before the commencement of this Act, if the purchase is by a tenant other than an occupancy tenant; (iv) the amounts, if any, paid by or recovered from the landlord as land revenue, canal revenue and cesses referred to in sub-section (1) of section 17, in the event of the failure on the part of the tenant to pay the same. (2) Where a tenant to whom sub-section (3) of section 17 applies, has, after the commencement of this Act, paid in respect of the land held by him as tenant, land revenue and other cesses referred to in sub-section (1) of that section on account of the failure of the landlord to pay the same, a sum equal to the total amount so paid by the tenant until the date of the determination of the purchase price shall be deducted from the aggregate of the amount determined under clause (1). (3) (a) On the aggregate amount arrived at in accordance with the provisions of clauses (1) and (2) there shall be calculated interest at 4½ per cent. per annum for the period between the date on which the ownership of the land stands transferred to and vests in the tenant under section 46 and the date of the determination of the purchase price. (b) (i) The amount of interest so calculated shall be added to the aggregate amount so arrived at, and (ii) the amount of rent, if any, paid by the tenant to the landlord and the value of any products or trees planted by the landlord if such products are removed by the landlord during the said period shall be deducted from the aggregate amount so arrived at.

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