1) since tenants are being staying in property for 40 years you cannot evict them without following due process of law

2) it the tenants have carried out un authorised alterations or failed to pay rents you cna file eviction suit to evict them

3) if you require premises for bona fide personal use you can evict them by court orders

4) amicable settlement is best option

5) eviction suit would take 10 years to be disposed of

6) you can pay the tenants 50 %of the market price if they are willing to vacate the premises

1) you should pay them Rs 5 lakhs

2) in case you desire to issue legal notice to vacate the premises contact a local lawyer

3) you can give them one month notice

In your case amicable settlement is best policy for eviction the tenant.Other wise you can only evict the tenant according to Rent control act. No forceful eviction is permissible.One month notice is need for evict the tenant .For evict the tenant you should prove your bonafide needs .

You don't have to pay them any money legally. You can issue a notice stating that the property is very old and in dilapidated condition and since financial condition is not good to undertake reconstruction, you require them to vacate to enable you to dispose the property.

If they do not respond then you may file an eviction suit.

Don't be misguided.

If you are the owner you don't have to pay them any money.

They cannot legally claim any money.

You may drag them to court with an eviction suit.