Section 40(2) in Tamil Nadu Town and Country Planning Act, 1971
(2)The powers of a new town development authority in regard to the disposal of land acquired by it under this Act shall be so exercised as to secure, so far as practicable that persons who were living or carrying on business or other activities on land so acquired shall, if they desire to obtain a plot or accommodation on land so acquired and are willing to comply with any requirements of the new town development authority as to its development and use, have an opportunity to obtain a plot or accommodation suitable to their reasonable requirements on terms settled with due regard to that price at which any such land has been acquired from them.
