Acquisition by way of accommodation reservation.

(1) A Planning and Development Authority, municipal council or a village Panchayat may, with the consent of the owner, get transferred his land and amenity in its favour for Public purpose as specified in the Development Plan, by way of accommodation reservation, in such manner as may be prescribed. (2) The owner of such land shall develop such amenity and hand it over to the said authority free of cost and thereafter he shall himself utilize the developmental right equivalent to full permissible Floor Area Ratio.