Preservation of natural reserves and resources for posterity.

A Planning and

Development Authority, municipal corporation, municipal council or a village panchayat may with approval of the Government and the consent of the owner, withdraw or severe the development right or potential in respect of land identified for conservation or preservation in the Regional Plan or Development Plan and the Government may allot the development right, thus removed, or severed to other area which is more suitable for development by way of transferable development right for posterity in such manner as may be prescribed.]