Provided further that any party aggrieved by the order of the Collector may, within thirty days from the date of such order, appeal to the State Government.

 (3)        The local authority shall deliver possession of the land or building vesting in the market committee under sub-section (2) within a period of seven days from such vesting and on failure of the local authority to do so, within  the period aforesaid, the Collector shall take possession of the land or building and cause it to be delivered to the market committee.

 (4)        The order of the State Government and subject to that order, the order of the Collector under sub-section (2) shall be final and binding on both the parties.

 (5)        The Collector shall fix the amount of compensation for the land or building having regard to-

             (i)         the annual rent for which the building might reasonably be expected to be let from year to year;

             (ii)        the condition of building;

             (iii)     the amount of compensation paid by the local authority for the acquisition of such land and the present market value of the land; and

             (iv)       the cost or the present market value of any building erected or other work executed on the land by local authority.]

 (6)        The compensation fixed under sub-section (5), may, at the option of the market committee, be paid in lump sum or in such number of equal annual installments not exceeding ten as the Collector may fix.  Where the compensation is paid in installments, it shall carry interest at the rate of six percent per annum which shall be payable along with the installment.

 9.         Acquisition of land for Board or market committee.-

 (1)        When any land within the market area is required for the purposes of this Act and the Board or the market committee is unable to acquire it by agreement the State Government may, at the request of the Board or the market committee, as the case may be, proceed to acquire such land under the provisions of the Land Acquisition Act, 1894 (No.1 of 1894) and on the payment of the compensation awarded under that Act, by the market committee and of any other charges incurred by the State Government in connection with the acquisition, the land shall vest in the Board or the market committee, as the case may be.

 (2)  Any land which has been acquired for and vests in the Board or Market Committee under sub-section  (1) shall be transferred by way of sale, lease or otherwise only in accordance with the rules made by the State Government for the purpose".

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