Section 314. Subject to the provision of this Act, the Municipality may require

acquisition of any land or building, whether situated in the municipal area or
not, for the purpose of :

(i) opening out any congested or unhealthy area or otherwise improving
any portion of municipal area, or
(ii) erecting sanitary dwellings for working and poor people or
(iii) executing any development plan or scheme for the benefit of
persons residing in the municipal area.