Section 114

114. Repeal and saving.–(1) The Land Acquisition Act, 1894 (1 of 1894) is hereby repealed. (2) Save as otherwise provided in this Act the repeal under sub-section (1) shall not be held to prejudice or affect the general application of section 6 of the General Clauses Act, 1897 (10 of 1897) with regard to the effect of repeals. THE FIRST SCHEDULE [See section 30(2)] COMPENSATION FOR LAND OWNERS The following components shall constitute the minimum compensation package to be given to those whose land is acquired and to tenants referred to in clause (c) of section 3 in a proportion to be decided by the appropriate Government. Serial No. Component of compensation package in respect of land acquired under the Act Manner of determination of value Date of determination of value (1) (2) (3) (4) 1. Market value of land To be determined as provided under section 26. 2. Factor by which the market value is to be multiplied in the case of rural areas 3. Factor by which the market value is to be multiplied in the case of urban areas 4. Value of assets attached to land or building 1.00 (One) to 2.00 (Two) based on the distance of project from urban area, as may be notified by the appropriate Government. 1(One). To be determined as provided under section 29. 5. Solatium Equivalent to one hundred per cent. of the market value of land mentioned against serial number 1 multiplied by the factor specified against serial number 2 for rural areas or serial number 3 for urban areas plus value of assets attached to land or building against serial number 4 under column (2). 6. Final award in rural areas Market value of land mentioned against serial number 1 multiplied by the factor specified against serial number 2 plus value of assets attached to land or building mentioned against serial number 4 under column (2) plus solatium mentioned against serial number 5 under column (2). 7. Final award in urban areas Market value of land mentioned against serial number 1 multipli