Transfer of land to Housing Board.

(1) Where any land has been acquired under section 3, the Government may transfer the land to the Housing Board constituted under section 3 of the Telangana Housing Board Act, 1956 (Act XLVI of 1956], for the purpose of executing housing schemes framed under that Act; and thereupon the land shall vest in such Board. (2) Where land is transferred under sub-section (1) to the Housing Board aforesaid, the Housing Board shall be liable to pay the cost of acquisition of the land.