(1) The Government may, by notification in the [Government Gazette] and upon such terms and conditions as may be agreed upon between the Government and the Authority, place at the disposal of the Authority all or any developed and undeveloped lands in the zone or the local area vested in the Government (known and hereinafter referred to as “Nazul Land”) for the purpose of development in accordance with the provisions of this Act.
(2) No development of any Nazul land shall be undertaken or carried out except by or under the control and supervision of the Authority after such Nazul land has been placed at the disposal of the Authority under sub-section (1).
(3) After any such Nazul land has been developed, by or under the control and supervision of, the Authority, it shall be dealt with by the Authority in accordance with rules made and directions given by the Government in this behalf.
(4) If any Nazul land placed at the disposal of the Authority under subsection (1) is required at any time thereafter by the Government, the Authority shall, by notification in [Government Gazette], place it at the disposal of the Government upon such terms and conditions as may be agreed upon between the Government and the Authority.