Acquisition and disposal of land

(1) Where any land is required for the purpose of any housing scheme or for performing any other duties or functions of the Board, the Board may enter into an agreement with any person for the acquisition by purchase, lease or exchange, of any land, of his rights and property in such land, or on payment of an amount proportionate to the loss or deprivation caused to the fulfillment of the land. (2) The Board also may take steps for the compulsory acquisition of any land of which interest therein required for the execution of a housing scheme or for performing any other duties or functions of the Board, such acquisition of any land for a public acquisition, the land with the clearance of the land shall be deemed to be for acquisition purpose. (3) The Board may undertake and perform such duties or perform such functions as may be delegated to them by the State Government or local authority for the purpose of discharging such duties or performing such functions. (4) The Board may, for the purpose of discharging such duties or performing such functions, appoint one or more committees of members of the Board or local authority as they may deem fit.