Insertion of new section after section 173.

After section 173 of the principal Act, the following section shall be inserted:— "Prohibition of building without sanction plan. 173A. No person shall erect or commence to erect any building or execute any of the works specified under this Chapter except with the previous sanction of the Commissioner and in accordance with the provisions of this Chapter and of the rules and the regulations made under this Act in relation to such erection of building or execution of work and on payment of such fee as may be determined by the Corporation: Provided that in case of allowing incremental Floor Area Ratio over and above the prescribed limit of Floor Area Ratio in the prescribed manner, rate or fee or charge payable for additional Floor Area Ratio shall be decided in terms of "Circle Rates" of the State Government, and the formula for this purpose shall be finalised by the State Government, and all such additional rate or fees or charges to be collected on account of granting of additional Floor Area Ratio will be payable to the State Exchequer directly, and as may be decided by the State Government, a portion of the collected rate or fees or charges shall be allotted or transferred to the Corporation for undertaking developmental schemes.".