State Act
48
Section 48. Payment of interest.
The Maharashtra Housing and Area Development Act, 1976.
Act no. 28 of 19771977In forceMaharashtra (State Act)
48. Payment of interest.— 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.