Clause 18

Where immovable property, not being State land, is needed for the purposes of the Authority and cannot be acquired by agreement, the Authority may request and the President may, if he thinks fit, direct the acquisition of that property and in such case the property may be acquired in accordance with the provisions of any written law relating to the acquisition of land for a public purpose and a declaration required under such law that the land is so needed may be made notwithstanding that compensation is to be paid out of the funds of the Authority, and the declaration shall, subject to the provisions of subsection (2), have effect as if it were a declaration that the land is needed for a public purpose made in accordance with that written law.

Where immovable property is acquired pursuant to a direction of the President under this section and such immovable property is in an urban redevelopment area, the value of the immovable property shall be deemed to be the market value of the immovable property as on the date of publication of the notification in the Gazette declaring the area in which such immovable property is situated to be an urban redevelopment area pursuant to subsection (1) of section 17.