(1) The main object of the Authority shall be to secure the development of the Metropolitan Region according to the Development Plan and for that purpose, the functions of the Authority shall be to,—
(i) review any physical, financial and economic plan ;
(ii) review any project or scheme for development which may be proposed or may be in the course of execution or may be completed in the Metropolitan Region ;
(iii) formulate Schemes for the development of the Metropolitan Region or any part thereof ;
(iv) execute projects and schemes ;
(v) recommend to the Government any matter or proposal requiring action by the Government or any other authority for the overall development of the Metropolitan Region ;
(vi) participate with any other authority for inter-regional development ;
(vii) finance any project or scheme for the development of the Metropolitan Region ;
(viii) coordinate execution of the projects or schemes for the development of the Metropolitan Region ;
(ix) supervise or otherwise ensure adequate supervision over the planning and execution of any project or scheme, the expenses of which, in whole or in part, are to be met from the Metropolitan Region Development Fund ;
(x) prepare schemes and advise the concerned authorities in formulating and undertaking schemes for development of social, economic and industrial infrastructure in the Metropolitan Region ;
(xi) prepare and implement schemes for providing alternative accommodation and for rehabilitation of persons displaced by projects and schemes which provide for such requirements ;
(xii) enter into partnership with leading institutions in the fields of policy planning and development to strengthen the institutional capacity of the Authority ; and
(xiii) do all such other acts and things as may be necessary for or incidental or conducive to any matters which arise on account of its activity and which are necessary for furtherance of the objects for which the Authority is established.
(2) Notwithstanding anything contained in the Jammu and Kashmir Development Act, 1970, the Jammu and Kashmir State Town Planning Act, 1963, or any other law for the time being in force, the Authority shall assist the concerned authority in preparation of the Master Plan, Zonal Plan or Town Planning Scheme, as the case may be, under the provisions of these Acts.
(3) The Authority may also, in consultation with the authority concerned, for the purpose of the integrated development of the Metropolitan Region, undertake modification or revision of the Development Plans and shall for this purpose have all the powers of the authorities under these Acts and obtain the approval of the Government to the same. In doing so, the Authority shall take into consideration all the relevant plans of the authorities in the Region and specify the extent and the reason for modification of each such plan.