Power to grant developed land to the project affected person.

1[(1)] Where the acquiring body disposes developed land from the land acquired for the purposes of the project, the project affected person would be entitled to twelve and half per cent. develop land of the land acquired from him, on payment of amount prescribed by State Government. 2[(2) Notwithstanding anything contained in sub-section (1), it shall be lawful for the State Government to grant such alternative benefits to the project affected person in lieu of the developed land as the State Government may notify taking into consideration the nature of the project and the local conditions.]