In compulsory acquisition exemption can be claimed ?

In compulsory acquisition of a agricultural land exemption can be claimed under sec 54 .

Which exemption will be availabe under this case...

  Land                                                        :         Agicultural (as per records)

  Acquisition                                               :         Compulsory   Acquisition

  Payment                                                  :          Deemed commercial some part and rest agricultural

  TDS                                                         :          10%

  Amount of compensation                            :          1,30,00,000

Now can assesse buy a Agricultural land or he has to purchase/build a residential house for claiming exemption under sec 54....?