(1) Whenever any private street or square or part thereof, which is not vested in the Board or in any local authority is required for executing any housing, development, or improvement scheme, the Board shall cause to be affixed in a conspicuous place in or near such street or square or part, a notice signed by the Chairman, and-
(a) stating the purpose for which the street or square or part thereof, is required; and
(b) declaring that the Board will, on or after a date to be specified in the notice; take over charge of such street or square, or part from the owner thereof, and shall simultaneously send a copy of such notice to the owner of such street or square or part.
(2) After considering the objections, if any, received in writing before the date specified under clause (b) of sub-section
(1), the Board may take over the charge of such street or square or part, and the same shall thereupon vest in the Board.
(3) When the Board alters or closes any private street or square or part thereof, which has vested in it under sub-section (2), it shall pay reasonable compensation to the previous owner for the loss of his rights therein.
(4) If the alteration or closing of any such street or square or part causes damage or substantial inconvenience to owners of property adjacent thereto, or to residents in the neighbourhood, the Board shall forthwith provide some other reasonable means of access for the use of persons who were to use such street or square Transfer of private street or square to Board for purpose of housing, development or improvement scheme.
or part as a means of access to any property, or place and if the provision of such means of access does not sufficiently compensate any such owner or resident for such damage or inconvenience, the Board shall also pay him reasonable compensation.