(1) Whenever any immovable property has to be acquired by a market committee or the Board, the same shall generally be acquired under Land Acquisition Act, 1894 (Central Act I of 1894). Under special circumstances like necessary to complete a particular project within a stipulated time, the market committee or Board, as the case may be, may acquire the immovable property otherwise than under the Land Acquisition Act, 1894 (Central Act I of 1894)
(2) (a) Whenever a market committee or Board proposes to acquire any immovable property otherwise than the Land Acquisition Act, 1894 (Central Act I of 1894) the market committee or Board as the case may be shall obtain.
(i) the prior approval of the Director as to the suitability or otherwise of the property;
(ii) from the Collector of the district concerned, the particulars regarding the title over, possession in respect of, the value of, the classification of and such other particulars, if any relating to the property;
(iii) from the office of the Sub-Register concerned the encumbrance certificate and other particulars, if any, relating to the encumbrance on the property;
and
(iv) from the Law Officer concerned, the legal opinion regarding the title of the owner of the property and legal feasibility or acquiring the same.
(b) After satisfying the requirements under sub-rule (1), the market committee or Board, as the case may be, shall provisionally decide as to whether the property may be acquired and if the market committee or Board, as the case may be decides to acquire the property, it shall, subject to provisions of clause (a), take further action to acquire the property.
(3) In cases where the market committee or Board proposes to acquire any immovable property under the provisions of Land Acquisition Act, 1894 (Central Act I of 1894) the market committee or the Board, as the case may be, shall comply with requirements of sub-clauses (i) and (ii) of clause (a) of sub-rule (2) and take further action under Land Acquisition Act, 1894 (Central Act I of 1894). A register of Land Acquisition in Form 60 shall be maintained by every market committee or the Board.