Power to acquire land

The Government may, for carrying out the purposes of this Act, compulsorily acquire land under the Land Acquisition Act, 1894(Central Act 1 of 1894) and the acquisition of any land for any of the said purposes shall be deemed to be of a public purpose within the meaning of that Act: Provided that where the owner of a land agrees to surrender his land at a price mutually agreed between the Corporation and the owner, the Corporation shall have the power to acquire such land at agreed rate with the prior approval of the Government.