In Brief
A land acquisition initiated by the Madhya Pradesh Housing Board in 1996 lapsed when the RFCTLARR Act, 2013 came into force, though the Board had partially developed the land. Compensation of Rs. 33 lakhs was initially deposited but never paid to the land owners. Given that current market value was approximately Rs. 24 crores, the Supreme Court, with the agreement of both parties, fixed one-time compensation at Rs. 27.50 crores in full and final settlement. Payment was ordered within two months, with 18% per annum interest and personal officer liability for non-compliance.
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