Purchase price and its maxima.

1[(1) Subject to the additions and deductions as provided in subsections (1A) and (1B), the purchase price shall be reckoned as follows, namely :-

1. (i) in the case of a permanent tenant who is cultivating the land personally the purchase price shall be the aggregate of the following amounts, that is to say,-

1. (a) an amount equal to six times the rent of the land;
2. (b) the amount of the arrears of rent, if any, lawfully due on the tillers day or the postponed date;
3. (c) the amounts, if any, paid by or recovered from the landlord as land revenue and cesses referred to in clauses (a), (b), (c) and (d) of sub-section (1) of section 10A, in the event of the failure on the part of the tenant to pay the same;
   • (ii) in the case of other tenants, the purchase price shall be the aggregate of the following amounts, that is to say,-
4. (a) such amount as the Tribunal may determine not being less than 20 times the assessment and not more than 200 times the assessment;
5. (b) the value of any structures, wells, and embankments constructed and other permanent fixtures made and trees planted by the landlord on the land;
6. (c) the amount of the arrears of rent, if any, lawfully due on the tillers day or the postponed date;
7. (d) the amounts, if any, paid by or recovered from the landlord as land revenue and other cesses referred to in clauses (a), (b), (c) and (d) of subsection (1) of section 10A, in the event of the failure on the part of the tenant to pay the same. Explanation 2[1].- For the purposes of calculating the price under this subsection, the amount of water rate, if any, levied under section 55 of the Bombay Land Revenue Code, 1879 (Bom. V of 1879), and included in such assessment, shall be excluded. 3[Explanation 2.- For the purposes of this sub-section, the expression 'assessment' shall have the meaning assigned to it in section 8]. 4[(1A) Where a tenant to whom sub-sections (1) and (2) of section 10A do not apply, has, after the commencement of the Bombay Tenancy and Agricultural Lands (Amendment) Act, 1955 (Bom. XIII of 1956), paid in respect of the land held by him as tenant land revenue and other cesses referred to in sub-section (1) of that section on account of the failure of the landlord to pay the same, a sum equal to the total amount so paid by the tenant until the date of the determination of the purchase price shall be deducted from the aggregate of the amounts determined under sub-section (1). (1B)(a) On the amount arrived at in accordance with the provisions of subsections (1) and (1A), there shall be calculated interest at 4 1/2 per cent per annum for the period between the date on which the tenant is deemed to have purchased the land under section 32 and the date of the determination of the purchase price.
8. (b) (i) The amount of interest so calculated shall be added to, and
   • (ii) the amount of 5[compensation for use and occupation of the land], if any paid by 6[the tenant-purchaser to the former landlord] and the value of any products of trees planted by 7[such landlord] if such products are removed by 8[that land-lord] during the said period shall be deducted from the amount so arrived at].

1. (2) The State Government may, by general or special order, fix different minima and maxima for the purpose of sub-clause (a) of clause (ii) of sub-section (1) in respect of any kind of land held by tenants in any backward area. In fixing such minima and maxima, the State Government shall have regard to the rent payable for the land and the factors specified in sub-section (3) of section 63A.