Section 123(1) in The Maharashtra Regional and Town Planning Act, 1966
(1)Without prejudice to the power of a Development Authority under this Act to dispose of any of their Property, a Development Authority may by an agreement made with any local authority, or Planning Authority and approved, by the State Government transfer to that local authority or Planning Authority any part of the property of the Development Authority upon such terms as may be prescribed by the agreement:Provided that, before approving such agreement, the State Government shall publish in the Official Gazette and in one or more local newspapers a notice stating that the agreement has been submitted for approval and describing the general effect of the agreement.
