(1) Where any land vests in the Board under —Compensa-

(1) Where any land vests in the Board under the provisions of section 32 and the Board makes a declaration that such land shall be retained by the Board only until it revests in the Corporation, the Municipality or the Zila Parishad, as part of a street or open space under section 36, no compensation shall be payable by the Board to the Corporation, the Municipality or the Zila Parishad, as the case may be, in respect of that land. (2) Where any land vests in the Board under section 32 and no declaration is made under sub-section (1) in respect of the land, the Board shall pay to the Corporation, the Municipality or the Zila Parishad, as the case may be, as compensation, a sum equal to the value of the land.