Asd per the provisions of section 27 of the act referred, which is given below:
Section 27 of the Act defines the method by which market value of the land shall be computed under the proposed law. Schedule I outlines the proposed minimum compensation based on a multiple of market value. Schedule II through VI outline the resettlement and rehabilitation entitlements to land owners and livelihood losers, which shall be in addition to the minimum compensation per Schedule I.
The market value of the proposed land to be acquired, shall be set as the higher of the minimum land value, if any, specified in the Indian Stamp Act, 1899 for the registration of sale deeds in the area, where the land is situated; or
the average of the sale price for similar type of land being acquired, ascertained from the highest fifty per cent of the sale deeds registered during the preceding three years in the nearest village or nearest vicinity of the land being acquired.; or
the consented amount in case the land is acquired for private companies or public-private partnership projects.
The right to property? is no more a fundamental right but rather a constitutional/legal right/as a statutory right and in the event of breach, the remedy available to an aggrieved person is through the High Court under Article 226 of the Indian Constitution and not the Supreme Court under Article 32 of the Constitution. .State must pay compensation at the market value for such land, building or structure acquired and the same can be found in the earlier rulings when property right was a fundamental right.
The Act defines the following as land owner: A person whose name is recorded as the owner of the land or building or part thereof, in the records of the authority concerned;
Your question No. 2 is answered that if the multiplier factor is used for making compensation to your case, you are eligible for the same though the acquired property of yours is a building and not lands.
For your question No.1, calculation of compensation by applying the multiplier factor or not will for property situated in the distance of 26 kms from Urban area can be answered by the authorities concerned referring to the chart or table held by them on such issues.