Amendment status not verified — confirm the current text below against the official source.
(1) A Development Authority shall be competent to make any agreement with any person in respect of any matter which is to be provided for in the development scheme subject to the power of the State Government to modify or disallow such agreement and unless it is otherwise expressly provided therein, such agreement shall take effect on and after the day on which the development scheme comes into force. (2) Such an agreement shall not in any way affect the determination of the matters as standing in section 73 or the rights of third parties, but it shall be binding on the parties to the agreement: Provided that if any agreement contains any provisions which are inconsistent with the scheme as published by the Development Authority under section 61, such an agreement shall be void: Provided further that, if the agreement is modified by the State Government, either party shall have the option of avoiding it if it so elects.