Section 33(1) in Karnataka Housing Board Act, 1962
(1)The Board may enter into an agreement for purchase of the Land from any person or take on lease or exchange any land required for the purposes of a housing scheme or land development scheme or any interest in such land or for compensating the owners of any such right in respect of any deprivation or interference therewith subject to such terms and conditions as may be prescribed.Provided that Subject to such rules, as may be prescribed, the previous approval of the State Government is necessary in case of purchase or exchange or sharing basis of land in lieu of compensation in respect of project involving land worth more than rupees two hundred and fifty lakhs or lease for more than ten years.
