Section 80 of LARR Act, 2013 : Section 80: Payment Of Interest

Explanation using Example

Imagine a scenario where a local government initiates a land acquisition process for a new highway project. The landowner, Mr. Sharma, is entitled to a compensation amount as determined by the authorities. According to Section 80 of The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013, if the government takes possession of Mr. Sharma's land but fails to pay or deposit the compensation amount on or before the date of possession, Mr. Sharma is entitled to receive the compensation with an additional interest of nine percent per annum from the date of possession until the compensation is paid or deposited.

Furthermore, if the compensation is still unpaid or not deposited after one year from the date on which possession was taken, Mr. Sharma will be eligible for a higher interest rate of fifteen percent per annum on the unpaid compensation amount, starting from the expiry of that one-year period.