Section 173(3) in The Maharashtra Municipal Councils, Nagar Panchayats And Industrial Townships Act, 1965
(3)In laying out, making, turning, diverting, widening, opening, extending or otherwise improving any public street, in addition to the land required for the carriageway and foot-ways and drains thereof, the Council may acquire the land required for the construction of buildings to form the said street, and subject to the provisions of Section 92, may sell and dispose of such additional land in perpetuity or on lease for a term of years, with such stipulations as to the class and description of buildings to be erected thereon as it may think fit.
