(1) If in the opinion of the State Government, any land is required for the purpose of development or for any other purpose under this Act, the State Government may acquire such land under the provisions of the Land Acquisition Act, 1984 :
Provided that the Authority shall also have the power to take steps for the compulsory acquisition of any land or any interest therein required for the execution of master plan after its approval by the State Government or for performing any other duties or functions of the Authority and such acquisition of any land or any interest therein shall be deemed to be acquisition for a public purpose within the meaning of the Land Acquisition Act :
Provided further that any person from whom any land is so acquired may, after the expiration of a period of five (5) years from the date of such acquisition, apply to the State Government for restoration of that land to him on the ground that the land has not been utilized within the period for the purpose for which it was acquired, and if the Government is so satisfied it shall order restoration of the land to him on re-payment of the charges which were incurred in connection with the acquisition together with interest at the rate of twelve percent (12%) per annum and such development charges, if any, as may have been incurred after acquisition.
(2) Where any land has been acquired by the State Government, it may, after it has taken possession of the land, transfer the land to the Authority for the purpose for which the land has been acquired on payment by such Authority of the compensation awarded under that Act and of the charges incurred by the State Government in connection with the acquisition or otherwise as deemed appropriate by the State Government.
Contractual acquisition of land
17. Notwithstanding anything in section 16, where any land is needed for the purpose of a master plan or for performing any other duties or functions of the Authority, the Authority may enter into an agreement with any person for the acquisition by purchase, lease or exchange, or otherwise of his rights and interests in such land either wholly or in part, on payment of an amount proportionate to the loss or deprivation caused to the enjoyment of the land.
Disposal of Land by the Authority