(1) If it appears to the Authority that it is expedient, having regard to the Plan prepared or under preparation, that any permission to develop land granted under this Act or any other law should be revoked or modified, the Authority may after giving the person concerned an opportunity of being heard against such revocation or modification, by order, revoke or modify the permission to such extent as appears to it to be necessary:
Provided that -
(a) where the development relates to the carrying out of any building or other operation, no such order shall affect such of the operations as have been previously carried out or shall be passed after these operations have substantially progressed or have been completed;
(b) where the development relates to a change of use of land, no such order shall be passed at any time after the change has taken place: Provided further that where the revocation or modification of the permission is necessary in public interest, the provisions of the first proviso shall not apply.
(2) Where permission is revoked or modified by an order made under sub-section (1) and any owner claims within the time and in the manner prescribed, compensation for the expenditure incurred in carrying out the development in accordance with such permission which has been rendered abortive by the revocation or modification, the Authority shall, after giving the owner reasonable opportunity of being heard by the office, appointed by it in this behalf and after considering his report assess and offer reasonable compensation to the owner.
(3) If the owner does not accept the compensation and gives notice within thirty days of his refusal to accept, the Authority shall refer the matter for the adjudication of the Tribunal and the decision of the Tribunal shall be final and be binding on the owner and the Authority.