Acquisition of property

(1) Where any property is vested under sub-section (1) of section 60 in connection with the management of an educational institution or is subject to requisition under sub-section (1) of section 64, the Government may, if they consider it necessary to acquire the property for any public purpose connected with education, acquire at any time such property for the said public purpose by publishing in the Telangana Gazette a notice to the effect that the Government have decided to acquire the property in pursuance of this section: Provided that before issuing such notice, the Government shall call upon the manager of, or any other person who in the opinion of the Government, is the person interested in, such property to show cause why the property should not be acquired; and after considering the objections if any, shown by the manager or other person interested in the property the Government may pass such orders as they deem fit. (2) When notice as aforesaid is published in the Telangana Gazette, the requisitioned property shall on and from the day on which the notice is so published, cease to be subject to requisition and vest absolutely in the Government free from all encumbrances. (1) ... (e) where there is any dispute as to the person or persons who are entitled to the amount, the arbitrator shall decide such dispute and if the arbitrator finds that more persons than one are entitled to the amount, he shall apportion the amount amongst such persons according to their rights, and (f) nothing in the Arbitration and Conciliation Act, 1996, shall apply to arbitrations under this section. (2) The amount payable for the requisitioning of any property, movable or immovable, shall, in respect of the period of requisition, be a sum equal to the rent which would have been payable for the use and occupation of the immovable property or for the use of the movable property, if it had been taken on lease for that period. (3) The amount payable for the acquisition of any immovable property under section 67 shall be- (a) the price which the requisitioned property would have fetched in the open market if it had remained in the same conditions as it was at the time of requisitioning and been sold on the date of acquisition; or (b) twice the price which the requisitioned property would have fetched in the open market if it had been sold on the date of requisition, whichever is less. (4) The amount payable for the acquisition of any movable property shall be the price which such property would have fetched in the open market if it had been sold on the date of acquisition.