Transfer of management to the Authority, for the purposes of housing and development schemes vested in a Local Authority

(1) Whenever any street, square or other land or any part thereof, owned and possessed by a Local Authority is required for the purposes of any housing or development scheme as published in the Official Gazette under section 20 of this Act, the Authority shall give notice to the concerned Local Authority to transfer the management of such street, square or other land or part thereof, as the case may be, to the Authority. (2) Where the Local Authority agrees the transfer of the management of such street, square or other land or part thereof, the same shall vest in the Authority. (3) Where there is any dispute, the matter shall be referred to the State Government and the State Government shall, after hearing the parties concerned decide the matter, whose decision thereon shall be final. (4) Notwithstanding such vestment, the Local Authority concerned shall continue to render the municipal services as usually provided by it and such vestment shall not affect the duties and obligations of such Local Authority in or over any drain or water works falling in the management vested in the Authority.