Section 126(1) in The Maharashtra Regional and Town Planning Act, 1966
(1)When after the publication of draft Regional Plan, a Development or any other plan or town planning scheme, any land is required or reserved for any of the public purposes specified in any plan or scheme under this Act at any time the Planning Authority, Development Authority, or as the case may be, [any Appropriate Authority may, except as otherwise provided in section 113A] [This portion was substituted for the words 'any Appropriate Authority may acquire the land', by Maharashtra 21 of 1971, Section 11(1).] [acquire the land,-(a)by agreement by paying an amount agreed to, or(b)in lieu of any such amount, by granting the land-owner or the lessee, subject, however, to the lessee paying the lessor or depositing with the Planning Authority, Development Authority or Appropriate Authority, as the case may be, for payment to the lessor, an amount equivalent to the value of the lessor's interest to be determined by any of the said Authorities concerned on the basis of the principles laid down in the Land Acquisition Act, 1894, Floor Space Index (FSI) or Transferable Development Rights (TDR) against the area of and surrendered free of cost and free from all encumbrances, and also further additional Floor Space Index or Transferable Development Rights against the development or construction of the amenity on the surrendered- land at his cost, as the Final Development Control Regulations prepared in this behalf provide, or(c)by making in application to the State Government for acquiring such land under the Land Acquisition Act, 1894,and the and (together with the amenity, if any, so developed or constructed) so acquired by agreement or by grant of Floor Space Index or additional Floor Space Index or Transferable Development Rights under this sections or under the Land Acquisition Act, 1894, as the case may be, shall vest absolutely free from all encumbrances in the Planning Authority. Development Authority, or as the case may be, any Appropriate Authority.] [This portion was substituted and shall be deemed to have been substituted, on the 25th March, 1991, for the words and figures 'acquire the land either by agreement or makes an application to the State Government for acquiring such and under the Land Acquisitions Act, 1894' by Maharashtra 10 of 1994, Section 13(a).]
