Total compensation

(1) After the statement has been notified under the preceding section, the Collector shall make an award apportioning compensation, in the manner hereinafter prescribed, among all the persons known or believed to be interested in the land, of whom or of whose claims he has information, whether or not they have appeared before him. (2) Notwithstanding anything contained in any other law for the time being in force, the total compensation payable for any land acquired under this Act shall be the difference between— (a) the income of the scheme, which shall include the estimated value of the plots and the material thereon that remain to be sold and the other sources of income from the scheme which remain outstanding; and (b) the cost of the scheme, as notified in the statement under section 12. (3) Subject to the provisions of the Administration of Evacuee Property Act, 1950, or any other law for the time being in force, the compensation awarded in respect of the structures, if any, standing on the land comprised in the scheme shall be payable to the persons known or believed to be interested in those structures according to their respective interests as determined by the Collector under section 11. Explanation.—In computing such compensation, the Collector shall assess the market value of the structures at the time of delivery of possession of the land to the Trust and deduct from such value the cost of demolishing them and removing the material from the site. (4) The total compensation, less any deductions that may be necessary on account of the amounts, if any, payable under sub-section (3), shall be paid to the various persons interested in proportion to the interests held by them as determined by the Collector under section 11(d): Provided that the amount paid to any person shall not be less than the market value of his interest as determined by the Collector under section 11(d) minus the cost of demolition and removal incurred by the Trust.