Acquisition of land and built up space by way of Accommodation Reservation.

The Metropolitan Development Authority or the local authority may, with the consent of the owner and in the manner prescribed, acquire land and built up space for public purposes, indicated in the statutory Development Plan, by permitting an equivalent built up space in addition to built up space required for the amenity or facility, in lieu of the cost of land and the built up space for the amenity transferred to the Metropolitan Development Authority or local authority.