(1) Where any land situated in any development area is required by the Master Plan or zonal development plan to be kept as an open space or unbuilt upon or is designated in any such plan as subject to compulsory acquisition, if at the expiration of ten years from the date of operation of the plan under section 10, or where such land has been so required or designated by any amendment of such plan, from the date of operation of such amendment, the land is not compulsorily acquired, the owner of the land may serve on the Government a notice requiring his interest in the land to be so acquired.
(2) If the Government fail to acquire the land within a period of six months from the date of receipt of the notice, the Master Plan or zonal development plan, as the case may be, shall have effect after the expiration of the said six months, as if the land were not required to be kept as an open space or unbuilt upon or were not designated as subject to compulsory acquisition.
CHAPTER V.
ACQUISITION AND DISPOSAL OF LAND.