Purchase of Land by way of Negotiated Settlement

Purchase of Land by way of Negotiated Settlement.-Where after the publication of a Development Plan, any land is required, reserved or designated in such plan, the Planning Authority may enter into agreement with any person for acquisition from him by purchase by paying such amount as may be arrived through negotiated settlement; Provided the amount shall not exceed the minimum reserve value of land by more than the limit as decided by the Board and approved by the Government