Transfer of private street or square to Board for purpose of housing or improvement scheme

(1) Whenever any private street or square or part thereof is required for executing any housing or improvement scheme, the Board shall cause to be affixed in a conspicuous place in or near such street or square or part thereof, a notice signed by the Chairman – (a) stating the purpose for which the street or square or part thereof is required and; (b) declaring that the Board will, on or after a date to be specified in the notice, take over charge of such street of square, or part from the owner thereof, and shall simultaneously send a copy of such notice to the owner of such street or square or part.

(2) After considering the objections (if any), received in writing before the date specified in the notice under sub-section (1), the Board may take over possession of such street or square or part, and the same shall thereupon vest in the Board.

(3) Upon the vesting of any private street, square or part thereof in the Board under sub-section (2), the Board shall pay to the person who owned such street, square or part, an amount equal to the amount which he would have been entitled to if such street, square or part had been acquired under the Land Acquisition Act, 1894 (Central Act 1 of 1894).

(4) If the Board makes any alteration in such street, square or part thereof or closes access thereto and such alteration or closure causes damage or substantial inconvenience to owners of property adjacent thereto, or to residents in the neighbourhood, the Board shall forthwith provide some other reasonable means of access for the use of such owners or residents and shall also pay them reasonable compensation for any damage or substantial inconvenience so caused.