land vests in govt 

2)you have received bond from govt and on maturity received bond amount 

3) govt would be considered owner of 1400 var land 

1)If compensation is received then you are not a owner. 

2)Any time you have to vacate the said property. 

Dear Sir,

If insufficient amount is paid better you reject the same and claim for deletion of your land from such scheme.  Even today your physical possession not disturbed.  Further your title deeds are with you.  In this background to create defense of non acceptance of such scheme you return the said meager amount and try to sell away the property the prospective buyers who will look after future litigation if any.  

Sir the land comes under the ceiling and the compensation is paid and received the same would be considered under ownership of government.

Sir if the land is under ceiling though you could have contested by filing a petition against same but you possess land above ceiling limit then in that case nothing much can be done now.

1) kindly clarify

whether your filed return under Section 6 of the Act in respect of the holding held by him within the urban agglomeration.

2) whether Based upon the return the competent authority issued the draft statement under Section 8  and after allowing the entitlement of the petitioner, declared 1400 var of land as surplus.

3) whether The final statement declaring the land surplus was passed thereafter.whether  The notification under Section 10(1) of the Act was issued . whether  the competent authority issued notice to petitioner under Section 10(5) of the Act.to take possession 

4)  land price was Rs 3 to 4 crores and possession has not been taken file writ petition in HC to claim 1400 var of land 

5) inform the agents that only if you are able to obtain court orders for  1400 var of land would you consider their offer 

Retaining original documents in your possession will not entitle you the rights of the property that has been acquired by the government. In fact you have already received the compensation amount also hence any claim in this regard may not be maintainable.

Dont get lured to such illegal offers.

You very clearly know that the land has been acquired by government and also you have been paid with the compensation, hence you do not have any rights in the landed property.

The money that they are trying to offer now may look attractive and may even induce you to do the mistake, but when this becomes a problem at a later stage, then you may have to spend rest of your life with court cases.

Let the landed property  be in your possession till such time the government is trying to take it over.

As the Act is repealed it has no binding effect.