It is pending from years just bcoz of illegal settlements along the railway lines not bcoz of land acquisition (as nearby lands adjacent to lines belongs to railways).
And also railway is not entitled for their rehabilitation as they are illegally settled.
State govt. knows most of their votes comes from these settlements and also it needs crores of rupees for their rehabilitation (as dislocating them to somewhere else will lead to loss of votes to that particular local constituency and also it's too costly to have them settled in city area for...
more... which there is no land govt. land available) which present govt. can't do, as already several basic, important and ongoing projects have been stalled since the new government came to power. They don't have money as the whole money is spent on freebies and purchasing GOBAR that even through taking loans.
So don't expect anything from them. It seems to be remaining pending for years.