Company : Sol Infotech Pvt. Ltd. Website : www.courtkutchehry.com Maharashtra Tenancy And Agricultural Lands, Hyderabad Tenancy And Agricultural Lands And Maharashtra Tenancy And Agricultural Lands (Vidarbha Region) (Amendment) Act, 2015 1 OF 2016 [01 January 2016] CONTENTS CHAPTER 1 :- PRELIMINARY 1. Short title CHAPTER 2 :- AMENDMENTS TO THE MAHARASHTRA TENANCY AND AGRICULTURAL LANDS ACT 2. Amendment of section 63 of LXVII of 1948 3. Amendment of section 63-1A of LXVII of 1948 CHAPTER 3 :- AMENDMENTS TO THE HYDERABAD TENANCY AND AGRICULTURAL LANDS ACT, 1950 4. Amendment of section 47 of Hyd. XXI of 1950 5. Amendment of section 47A of Hyd. XXI of 1950 CHAPTER 4 :- AMENDMENTS TO THE MAHARSHTRA TENANCY AND AGRICULTURAL LANDS (VIDARBHA REGION) ACT 6. Amendment of section 89 of XCIX of 1958 7. Amendment of section 89A of XCIX of 1958 Maharashtra Tenancy And Agricultural Lands, Hyderabad Tenancy And Agricultural Lands And Maharashtra Tenancy And Agricultural Lands (Vidarbha Region) (Amendment) Act, 2015 1 OF 2016 [01 January 2016] An Act, further to amend the Maharashtra Tenancy and Agricultural Lands Act, the Hyderabad Tenancy and Agricultural Lands Act, 1950 and the Maharashtra Tenancy and Agricultural Lands (Vidarbha Region) Act. WHEREAS it is expedient further to amend the Maharashtra Tenancy and Agricultural Lands Act, the Hyderabad Tenancy and Agricultural Lands Act, 1950 and the Maharashtra Tenancy and Agricultural Lands (Vidarbha Region) Act, for the purposes hereinafter appearing ; it is hereby enacted in the Sixty-sixth Year of the Republic of India as follows:-- CHAPTER 1 PRELIMINARY 1. Short title :- This Act may be called the Maharashtra Tenancy and Agricultural Lands, Hyderabad Tenancy and Agricultural Lands and Maharashtra Tenancy and Agricultural Lands (Vidarbha Region) (Amendment) Act, 2015. CHAPTER 2 AMENDMENTS TO THE MAHARASHTRA TENANCY AND AGRICULTURAL LANDS ACT 2. Amendment of section 63 of LXVII of 1948 :- In section 63 of the Maharashtra Tenancy and Agricultural Lands A ct (hereinafter referred to as "the Maharashtra Tenancy Act"), after sub-section (1B), the following sub-section shall be inserted, namely :-- "(1C) Nothing in sub-section (1) shall apply to the land situated within the limits of a Municipal Corporation or a Municipal Council, or within the jurisdiction of a Special Planning Authority or a New Town Development Authority appointed or constituted under the provisions of the Maharashtra Regional and Town Planning Act, 1966 or any other law for the time being in force, and also to any land allocated to residential, commercial, industrial or any other non-agricultural use in the draft or final Regional plan or Town Planning Scheme, as the case may be, prepared under the Maharashtra Regional and Town Planning Act, 1966 or any other law for the time being in force : Provided that, any transfer of land in favour of a person who is not an agriculturist for any non-agricultural use such as residential, commercial, industrial or any other non-agricultural use, shall be subject to the condition that such land shall be put to such nonagricultural use within a period of five years from the date of transfer, and due entry of such condition shall be made in the Record of Rights of such land : Provided further that, in respect of land transferred for any non- agricultural use permissible in the draft or final Development plan or Regional plan or Town Planning Scheme, as the case may be, after the expiry of the aforesaid period of five years, an extension of time not exceeding further five years may be granted by the Collector on payment of non-utilization charges at the rate of two per cent. of the market value of such land per annum, where such market value shall be calculated as per the Annual Statement of Rates published under the Bombay Stamp (Determination of True Market Value of Property) Rules, 1995, as applicable on the date of grant of such extension of time : Provided also that, if the transferee, including subsequent transferee, if any, fails to put the land to non-agricultural use permissible in the draft or final Development plan or Regional plan or Town Planning Scheme, as the case may be, within a period of five years or, where non-utilization charges as aforesaid have been paid, within the total period of ten years, then the Collector shall resume such land after giving one months notice to the said defaulting transferee, and the land so resumed by the Collector shall vest in the Government free from all encumbrances, and shall first be offered to the original land holder by way of grant, on the same tenure on which it was initially held by such original land holder before its transfer for such non-agricultural use and at the same price at which it had been transferred by the original land holder for such non-agricultural use : Provided also that, if the original land holder fails to accept the offer to purchase the said land within a period of ninety days from the date of receipt of such offer from the Collector or having accepted such offer, fails to deposit with the Collector the required amount within a further period of ninety days, such land shall be auctioned for any use consistent with and permissible under the draft or final Development plan or Regional plan or Town Planning Scheme, as the case may be; and in both the cases, the defaulting transferee shall only be entitled to compensation equal to the price at which such land had been purchased by him and the Collector shall remit such compensation to the defaulting transferee within a period of ninety days from the date of receipt of payment under the said auction : Provided also that, if a person who is not an agriculturist fails to utilize the said land for the non-agricultural use permissible in the draft or final Development plan or Regional plan or Town Planning Scheme, as the case may be, fully or partly, and wants to sell the same subsequently before the expiry of the total specified period of ten years, he may, subject to the payment of non-utilization charges specified in the second proviso, be permitted by the Collector to do so for any non-agricultural use permissible in the draft or final Development plan or Regional plan or Town Planning Scheme, as the case may be, for the remaining period out of the specified period of ten years, from the date of first transfer of the said land for such nonagricultural use, subject to the condition that the transferee shall have to deposit transfer charges at the rate of twenty-five per cent. of the market value of such land as per current Annual Statement of Rates.". 3. Amendment of section 63-1A of LXVII of 1948 :- In section 63-1A of the Maharashtra Tenancy Act,-- (I) in sub-section (1),-- (a) in the principal clause, for the words "or for special township projects, as the case may be," the words "or for Integrated Township Projects, as the case may be," shall be substituted ; (b) for clause (i), the following clause shall be substituted, namely:-- "(i) the agricultural zone of a draft or final Regional Plan or draft or final Town Planning Scheme, as the case may be, prepared under the Maharashtra Regional and Town Planning Act, 1966 or any other law for the time being in force, and plans or schemes and the development control regulations or rules framed under such Act or any of such laws for the time being in force permit industrial use of land; or "; (c) in clause (iii), for the words "of a special township project" the words "of an Integrated Township Project" shall be substituted; (d) for the first and second provisos, the following provisos shall be substituted, namely:-- "Provided that, where such purchase of land is for bona fide industrial use, it shall be subject to the condition that such land shall be put to bona fide industrial use within a period of five years from the date of purchase: Provided further that, after the expiry of the aforesaid period of five years, an extension of time not exceeding further five years may be granted by the Collector on payment of non-utilization charges at the rate of two per cent. of the market value of such land per annum, where such market value is calculated as per the Annual Statement of Rates published under the Bombay Stamp (Determination of True Market Value of Property) Rules, 1995, as applicable on the date of grant of such extension of time : Provided also that, if the purchaser fails to put the land to bona fide industrial use within a period of five years or, where non- utilization charges as aforesaid have been paid, within a total period of ten years, then the Collector shall resume such land after giving one months notice to the said defaulting purchaser, and the land so resumed by the Collector shall vest in the Government, free from all encumbrances, and shall first be offered to the original land holder by way of grant, on the same tenure on which it was initially held by such land holder before its sale for such bona fide industrial use and at the same price at which it had been sold by the original land holder for such bona fide industrial use : Provided also that, if the original land holder fails to accept the offer to purchase the said land within a period of ninety days from the date of receipt of such offer from the Collector or having accepted such offer, fails to deposit with the Collector the required amount within a further period of ninety days, such land shall be auctioned for any use consistent with and permissible under the Development plan or Regional plan or Town Planning Scheme, as the case may be, if any, sanctioned under the Maharashtra Regional and Town Planning Act, 1966 or any other law for the time being in force ; and in both the cases, the defaulting purchaser shall only be entitled to compensation equal to the price at which such land had been purchased by him, and the Collector shall remit such compensation to the defaulting purchaser within a period of ninety days from the date of receipt of payment under the said auction :"; (II) in sub-section (2),-- (a) for the words "for special township project" the words "for Integrated Township Project" shall be substituted ; (b) the following proviso shall be added, namely :-- "Provided that, if such purchaser fails to deposit such amount within one month, then such purchaser shall pay to the Government an amount equal to seventy-five per cent. of the purchase price or the market value of the land as per the Annual Statement of Rates of that year, whichever is higher."; (III) in sub-section (3), for the words "or for special township project, as the case may be," the words "or for Integrated Township Project, or as the case may be, shall" shall be substituted ; (IV) after sub-section (4), the following sub-section shall be added, namely :-- "(5) If the person purchasing the land under sub-section (1) for conversion thereof for a bona fide industrial use, fails to utilize the said land for bona fide industrial use, fully or partly, and wants to sell the same before the expiry of the total specified period of ten years, he may, subject to the payment of nonutilization charges specified in the second proviso to sub-section (1), be permitted by the Collector to do so for the remaining period out of the specified period of ten years from the date of original purchase, subject to the following conditions, namely :-- (i) where the said land is to be sold for bona fide industrial use, the transferor shall have to deposit with the Collector the transfer charges at the rate of twenty-five per cent. of the market value of such land as per the current Annual Statement of Rates ; (ii) where the said land is to be sold for any nonagricultural purpose other than the bona fide industrial use, which is consistent with the draft or final Development plan or Regional plan or Town Planning Scheme, if any, made under the Maharashtra Regional and Town Planning Act, 1966 or any other law for the time being in force, the transferor shall have to deposit with the Collector conversion charges equal to fifty per cent. of the market value of such land as per the current Annual Statement of Rates and in case of Occupant Class-II land, an additional amount equal to forty-eight per cent. of the price at which such land was originally purchased, in lieu of the nazarana."; (V) in the Explanation,-- (i) in clause (a), for the words "power projects and ancillary industrial usage like research and development, godown, canteen, office building of the industry concerned" the words " power projects and ancillary industrial usage like research and development units pertaining to bona fide industrial use, godown, canteen, office building of the industry concerned" shall be substituted ; (ii) for clause (aa), the following clause shall be substituted, namely :-- "(aa) Integrated Township Project" means the Integrated Township Project or projects under the Regulations framed for development of Integrated Township by the Government under the provisions of the Maharashtra Regional and Town Planning Act, 1966 or any other law for the time being in force.". CHAPTER 3 AMENDMENTS TO THE HYDERABAD TENANCY AND AGRICULTURAL LANDS ACT, 1950 4. Amendment of section 47 of Hyd. XXI of 1950 :- In section 47 of the Hyderabad Tenancy and Agricultural Lands Act, 1950 (hereinafter referred to as "the Hyderabad Tenancy Act"), after sub-section (3), the following sub-section shall be inserted, namely :-- "(3A) Nothing in sub-section (1) shall apply to the land situated within the limits of a Municipal Corporation or a Municipal Council, or within the jurisdiction of a Special Planning Authority or a New Town Development Authority appointed or constituted under the provisions of the Maharashtra Regional and Town Planning Act, 1966 or any other law for the time being in force, and also to any land allocated to residential, commercial, industrial or any other non-agricultural use in the draft or final Regional plan or Town Planning Scheme, as the case may be, prepared under the Maharashtra Regional and Town Planning Act, 1966 or any other law for the time being in force : Provided that, any transfer of land in favour of a person who is not an agriculturist for any non-agricultural use such as residential, commercial, industrial or any other non-agricultural use, shall be subject to the condition that such land shall be put to such nonagricultural use within a period of five years from the date of transfer, and due entry of such condition shall be made in the Record of Rights of such land : Provided further that, in respect of land transferred for any non- agricultural use permissible in the draft or final Development plan or Regional plan or Town Planning Scheme, as the case may be, after the expiry of the aforesaid period of five years, an extension of time not exceeding further five years may be granted by the Collector on payment of non-utilization charges at the rate of two per cent. of the market value of such land per annum, where such market value shall be calculated as per the Annual Statement of Rates published under the Bombay Stamp (Determination of True Market Value of Property) Rules, 1995, as applicable on the date of grant of such extension of time : Provided also that, if the transferee, including subsequent transferee, if any, fails to put the land to non-agricultural use permissible in the draft or final Development plan or Regional plan or Town Planning Scheme, as the case may be, within a period of five years or, where non-utilization charges as aforesaid have been paid, within the total period of ten years, then the Collector shall resume such land after giving one months notice to the said defaulting transferee, and the land so resumed by the Collector shall vest in the Government free from all encumbrances, and shall first be offered to the original land holder by way of grant, on the same tenure on which it was initially held by such original land holder before its transfer for such non-agricultural use and at the same price at which it had been transferred by the original land holder for such non-agricultural use : Provided also that, if the original land holder fails to accept the offer to purchase the said land within a period of ninety days from the date of receipt of such offer from the Collector or having accepted such offer, fails to deposit with the Collector the required amount within a further period of ninety days, such land shall be auctioned for any use consistent with and permissible under the draft or final Development plan or Regional plan or Town Planning Scheme, as the case may be; and in both the cases, the defaulting transferee shall only be entitled to compensation equal to the price at which such land had been purchased by him and the Collector shall remit such compensation to the defaulting transferee within a period of ninety days from the date of receipt of payment under the said auction : Provided also that, if a person who is not an agriculturist fails to utilize the said land for the non-agricultural use permissible in the draft or final Development plan or Regional plan or Town Planning Scheme, as the case may be, fully or partly, and wants to sell the same subsequently, before the expiry of the total specified period of ten years, he may, subject to the payment of non-utilization charges specified in the second proviso, be permitted by the Collector to do so for any non-agricultural use permissible in the draft or final Development plan or Regional plan or Town Planning Scheme, as the case may be, for the remaining period out of the specified period of ten years, from the date of first transfer of the said land for such nonagricultural use, subject to the condition that the transferee shall have to deposit transfer charges at the rate of twenty-five per cent of the market value of such land as per current Annual Statement of Rates.". 5. Amendment of section 47A of Hyd. XXI of 1950 :- In section 47A of the Hyderabad Tenancy Act,-- (I) in sub-section (1),-- (a) in the principal clause, for the words "or for special township project, as the case may be," the words "or for Integrated Township Project, as the case may be," shall be substituted ; ( b ) for clause (i), the following clause shall be substituted, namely:-- "(i) the agricultural zone of a draft or final Regional Plan or draft or final Town Planning Scheme, as the case may be, prepared under the Maharashtra Regional and Town Planning Act, 1966 or any other law for the time being in force, and plans or schemes and the development control regulations or rules framed under such Act or any of such laws for the time being in force permit industrial use of land; or"; (c) in clause (iii), for the words "of a special township project" the words "of an Integrated Township Project" shall be substituted ; (d) for the first and second provisos, the following provisos shall be substituted, namely :-- "Provided that, where such purchase of land is for bona fide industrial use, it shall be subject to the condition that such land shall be put to bona fide industrial use within a period of five years from the date of purchase : Provided further that, after the expiry of the aforesaid period of five years, an extension of time not exceeding further five years may be granted by the Collector on payment of non-utilization charges at the rate of two per cent. of the market value of such land per annum, where such market value is calculated as per the Annual Statement of Rates published under the Bombay Stamp (Determination of True Market Value of Property) Rules, 1995, as applicable on the date of grant of such extension of time: Provided also that, if the purchaser fails to put the land to bona fide industrial use within a period of five years or, where non- utilization charges as aforesaid have been paid, within a total period of ten years, then the Collector shall resume such land after giving one months notice to the said defaulting purchaser, and the land so resumed by the Collector shall vest in the Government, free from all encumbrances, and shall first be offered to the original land holder by way of grant, on the same tenure on which it was initially held by such land holder before its sale for such bona fide industrial use and at the same price at which it had been sold by the original land holder for such bona fide industrial use: Provided also that, if the original land holder fails to accept the offer to purchase the said land within a period of ninety days from the date of receipt of such offer from the Collector or having accepted such offer, fails to deposit with the Collector the required amount within a further period of ninety days, such land shall be auctioned for any use consistent with and permissible under the Development plan or the Regional plan, as the case may be, if any, sanctioned under the Maharashtra Regional and Town Planning Act, 1966 or any other law for the time being in force ; and in both the cases, the defaulting purchaser shall only be entitled to compensation equal to the price at which such land had been purchased by him, and the Collector shall remit such compensation to the defaulting purchaser within a period of ninety days from the date of receipt of payment under the said auction : "; (II) in sub-section (2),-- (a) for the words "for special township project" the words "for Integrated Township Project" shall be substituted ; (b) the following proviso shall be added, namely :-- "Provided that, if such land purchaser fails to deposit such amount within one month, then such purchaser shall pay to the Government an amount equal to seventy-five per cent. of the purchase price or the market value of the land as per the Annual Statement of Rates of that year, whichever is higher."; (III) in sub-section (3), for the words "or for special township project, as the case may be," the words "or for Integrated Township Project, as the case may be," shall be substituted; (IV) after sub-section (4), the following sub-section shall be added, namely :-- "(5) If the person purchasing the land under sub-section (1) for conversion thereof for a bona fide industrial use, fails to utilize the said land for bona fide industrial use, fully or partly, and wants to sell the same before the expiry of the total specified period of ten years, he may, subject to the payment of nonutilization charges specified in the second proviso to sub-section (1), be permitted by the Collector to do so for the remaining period out of the specified period of ten years from the date of original purchase, subject to the following conditions, namely :-- (i) where the said land is to be sold for bona fide industrial use, the transferor shall have to deposit with the Collector the transfer charges at the rate of twenty-five per cent. of the value of such land as per the current Annual Statement of Rates ; (ii) where the said land is to be sold for any nonagricultural purpose other than the bona fide industrial use, which is consistent with the draft or final Development plan or Regional plan or Town Planning Scheme, if any, made under the Maharashtra Regional and Town Planning Act, 1966 or any other law for the time being in force, the transferor shall have to deposit with the Collector the conversion charges equal to fifty per cent. of the market value of such land as per the current Annual Statement of Rates and in case of Occupant Class-II land, an additional amount equal to forty-eight per cent. of the price at which such land was originally purchased, in lieu of the nazarana."; (V) in the Explanation,-- (i) in clause (a), for the words "power projects and ancillary industrial usage like research and development, godown, canteen, office building of the industry concerned" the words "power projects and ancillary industrial usage like research and development units pertaining to bona fide industrial use, godown, canteen, office building of the industry concerned" shall be substituted ; (ii) for clause (aa), the following clause shall be substituted, namely :-- "(aa) Integrated Township Project" means the Integrated Township Project or projects under the Regulations framed for development of Integrated Township by the Government under the provisions of the Maharashtra Regional and Town Planning Act, 1966 or any other law for the time being in force.". CHAPTER 4 AMENDMENTS TO THE MAHARSHTRA TENANCY AND AGRICULTURAL LANDS (VIDARBHA REGION) ACT 6. Amendment of section 89 of XCIX of 1958 :- In section 89 of the Maharashtra Tenancy and Agricultural Lands (Vidarbha Region) Act (hereinafter referred to as "the Vidarbha Region Act"), after sub-section (1B), the following sub-section shall be inserted, namely :-- "(1C) Nothing in sub-section (1) shall apply to the land situated within the limits of a Municipal Corporation or a Municipal Council, or within the jurisdiction of a Special Planning Authority or a New Town Development Authority appointed or constituted under the provisions of the Maharashtra Regional and Town Planning Act, 1966 or any other law for the time being in force, and also to any land allocated to residential, commercial, industrial or any other non-agricultural use in the draft or final Regional plan or Town Planning Scheme, as the case may be, prepared under the Maharashtra Regional and Town Planning Act, 1966 or any other law for the time being in force : Provided that, any transfer of land in favour of a person who is not an agriculturist for any non-agricultural use such as residential, commercial, industrial or any other non-agricultural use, shall be subject to the condition that such land shall be put to such nonagricultural use within a period of five years from the date of transfer, and due entry of such condition shall be made in the Record of Rights of such land: Provided further that, in respect of land transferred for any non- agricultural use permissible in the draft or final Development plan or Regional plan or Town Planning Scheme, as the case may be, after the expiry of the aforesaid period of five years, an extension of time not exceeding further five years may be granted by the Collector on payment of non-utilization charges at the rate of two per cent. of the market value of such land per annum, where such market value shall be calculated as per the Annual Statement of Rates published under the Bombay Stamp (Determination of True Market Value of Property) Rules, 1995, as applicable on the date of grant of such extension of time: Provided also that, if the transferee, including subsequent transferee, if any, fails to put the land to non-agricultural use permissible in the draft or final Development plan or Regional plan or Town Planning Scheme, as the case may be, with a period of five years or, where non-utilization charges as aforesaid have been paid, within the total period of ten years, then the Collector shall resume such land after giving one months notice to the said defaulting transferee, and the land so resumed by the Collector shall vest in the Government free from all encumbrances, and shall first be offered to the original land holder by way of grant, on the same tenure on which it was initially held by such original land holder before its transfer for such non-agricultural use and at the same price at which it had been transferred by the original land holder for such non-agricultural use : Provided also that, if the original land holder fails to accept the offer to purchase the said land within a period of ninety days from the date of receipt of such offer from the Collector or having accepted such offer, fails to deposit with the Collector the required amount within a further period of ninety days, such land shall be auctioned for any use consistent with and permissible under the draft or final Development plan or Regional plan or Town Planning Scheme, as the case may be; and in both the cases, the defaulting transferee shall only be entitled to compensation equal to the price at which such land had been purchased by him and the Collector shall remit such compensation to the defaulting transferee within a period of ninety days from the date of receipt of payment under the said auction : Provided also that, if a person who is not an agriculturist fails to utilize the said land for the non-agricultural use permissible in the draft or final Development plan or Regional plan or Town Planning Scheme, as the case may be, fully or partly, and wants to sell the same subsequently, before the expiry of the total specified period of ten years, he may, subject to the payment of non-utilization charges specified in the second proviso, be permitted by the Collector to do so for any non-agricultural use permissible in the draft or final Development plan or Regional Plan or Town Planning Scheme, as the case may be, for the remaining period out of the specified period of ten years, from the date of first transfer of the said land for such nonagricultural use, subject to the condition that the transferee shall have to deposit transfer charges at the rate of twenty-five per cent. of the market value of such land as per current Annual Statement of Rates.". 7. Amendment of section 89A of XCIX of 1958 :- In section 89A of the Vidarbha Region Act,-- (I) in sub-section (1),-- (a) in the principal clause, for the words "or for special township projects, as the case may be," the words "or for Integrated Township Projects, as the case may be," shall be substituted ; (b) for clause (i), the following clause shall be substituted, namely :-- "(i) the agricultural zone of a draft or final Regional plan or draft or final Town Planning Scheme, as the case may be, prepared under the Maharashtra Regional and Town Planning Act, 1966 or any other law for the time being in force, and plans or schemes and the development control regulations or rules framed under such Act or any of such laws for the time being in force permit industrial use of land; or"; (c) in clause (iii), for the words "of a special township project" the words "of an Integrated Township Project" shall be substituted ; (d) for the first and second provisos, the following provisos shall be substituted, namely :-- "Provided that, where such purchase of land is for bona fide industrial use, it shall be subject to the condition that such land shall be put to bona fide industrial use within a period of five years from the date of purchase : Provided further that, after the expiry of the aforesaid period of five years, an extension of time not exceeding further five years may be granted by the Collector on payment of non-utilization charges at the rate of two per cent. of the market value of such land per annum, where such market value is calculated as per the Annual Statement of Rates published under the Bombay Stamp (Determination of True Market Value of Property) Rules, 1995, as applicable on the date of grant of such extension of time : Provided also that, if the purchaser fails to put the land to bona fide industrial use within a period of five years or, where non- utilization charges as aforesaid have been paid, within a total period of ten years, then the Collector shall resume such land after giving one months notice to the said defaulting purchaser, and the land so resumed by the Collector shall vest in the Government, free from all encumbrances, and shall first be offered to the original land holder by way of grant, on the same tenure on which it was initially held by such land holder before its sale for such bona fide industrial use and at the same price at which it had been sold by the original land holder for such bona fide industrial use : Provided also that, if the original land holder fails to accept the offer to purchase the said land within a period of ninety days from the date of receipt of such offer from the Collector or having accepted such offer, fails to deposit with the Collector the required amount within a further period of ninety days, such land shall be auctioned for any use consistent with and permissible under the Development plan or Regional plan or Town Planning Scheme, as the case may be, if any, sanctioned under the Maharashtra Regional and Town Planning Act, 1966 or any other law for the time being in force ; and in both the cases, the defaulting purchaser shall only be entitled to compensation equal to the price at which such land had been purchased by him, and the Collector shall remit such compensation to the defaulting purchaser within a period of ninety days from the date of receipt of payment under the said auction : "; (II) in sub-section (2),-- (a) for the words "for special township project" the words "for Integrated Township Project" shall be substituted ; (b) the following proviso shall be added, namely :-- "Provided that, if such purchaser fails to deposit such amount within one month, then such purchaser shall pay to the Government an amount equal to seventy-five per cent. of the purchase price or the market value of the land as per the Annual Statement of Rates of that year, whichever is higher."; (III) in sub-section (3), for the words "or for special township project, as the case may be," the words "or for Integrated Township Project, as the case may be," shall be substituted ; (IV) after sub-section (4), the following sub-section shall be added, namely :-- "(5) If the person purchasing the land under sub-section (1) for conversion thereof for a bona fide industrial use, fails to utilize the said land for bona fide industrial use, fully or partly, and wants to sell the same before the expiry of the total specified period of ten years, he may, subject to the payment of non-utilization charges specified in the second proviso to sub- section (1), be permitted by the Collector to do so for the remaining period out of the specified period of ten years from the date of original purchase, subject to the following conditions, namely :-- (i) where the said land is to be sold for bona fide industrial use, the transferor shall have to deposit with the Collector the transfer charges at the rate of twenty-five per cent. of the market value of such land as per the current Annual Statement of Rates ; (ii) where the said land is to be sold for any nonagricultural purpose other than the bona fide industrial use, which is consistent with the draft or final Development plan or Regional plan or Town Planning Scheme, if any, made under the Maharashtra Regional and Town Planning Act, 1966 or any other law for the time being in force, the transferor shall have to deposit with the Collector conversion charges equal to fifty per cent. of the market value of such land as per the current Annual Statement of Rates and in case of Occupant Class-II land, an additional amount equal to forty-eight per cent. of the price at which such land was originally purchased, in lieu of the nazarana."; (V) in the Explanation,- (i) in clause (a), for the words "power projects and ancillary industrial usage like research and development, godown, canteen, office building of the industry concerned", the words "power projects and ancillary industrial usage like research and development units pertaining to bona fide industrial use, godown, canteen, office building of the industry concerned" shall be substituted ; (ii) for clause (aa), the following clause shall be substituted, namely :-- "(aa) Integrated Township Project" means the Integrated Township Project or projects under the Regulations framed for development of Integrated Township by the Government under the provisions of the Maharashtra Regional and Town Planning Act, 1966 or any other law for the time being in force."