Amendment status not verified — confirm the current text below against the official source.
(1) Board may enter into an agreement with any person orthe State Government forthe acquisition Irom him by purchase, lease or exchange, o, any land which is needed lorthe purposes of a housing scheme or any inlerest in such land or for compensating the owners of any such right in respect of any deprivation thereof or interference therewith : Provided that the previous approval of the State Government shall be obtained in case ol purchase or exchange involving land worth more than rupees one hundred lakhs or lease lor more lhan five years: Board to assume management of requisi- tioned lands. Reconstitution ol plots. Schemes entrusted to the Board by Sate Gov- ernment. Power to purchase, lease or acquire land 12\