(1) The Authority may, with the prior approval of the Government, set-up functional agencies for performance of such specific functions, not inconsistent with the objects of this Act, in such cases where it considers appropriate that it would be in public interest and would effect economy and efficiency in the performance of the functions assigned to it.
(2) The composition, management and the procedures of the aforesaid agencies to be set-up under sub-section (1) shall be such as may be prescribed.
A uction of 62. (1) If the Authority is satisfied that in a particular locality, augmentation of Floor A rea infrastructure, particularly relating to transportation, has occured to such an extent that Ratio. there is a scope for permitting additional built-up space by way of additional Floor Area Ratio (FAR) or Floor Space Index (FSI) over and above the permissible FAR or FSI in the area, itmay prepare, with the approval of the Government, a scheme identifying the specific area where such additional built-up space can be permitted by way of auction and specifying the applicable development control norms. .
(2) The scheme prepared under sub-section (1) shall qualify the total additional built-up space to be permitted and maximum spot Floor Area Ratio or Floor Space Index to be allowed by auction. Thereupon, the Authority, shall auction the aforesaid additional built-up space in the manner prescribed:
Power to acquire land un ..
der the Land Acquisition Act, 1894.
Specialprovi- 64.
sion for invocation of section 4 of Land Accuisttton
Provided that no auction shall take place unless augmentation of infrastructure <I'J and services mentioned in sub-section (1) has become fully operational.
CHAPTER - IX ACQUISITION, ASSEMBLY AND DISPOSAL OF LAND