(ii) According to the petitioner, the property was not yielding any income and therefore, he had decided to convert the property, being agricultural lands, into housing plots and formed a Layout known as “Arasan Nagar”. A layout plan was prepared and requisite documents have been submitted to the Local Authority, namely, Director of Town Planning, Chennai. No objection certificate was also obtained from the Revenue Authorities, on 27.01.2011. Subsequently, the Deputy Director of Town Planning, Trichy Zone, accorded permission vide proceedings, dated 13.10.2015, for the Layout in respect of the lands comprised in Survey Nos.462/1A Part and 462/3A Part, measuring an extent of 2.13 Acres. In terms of the proceedings of the Deputy Director of Town Planning, Trichy Zone, dated 13.10.2015, the petitioner was required to execute a gift deed in favour of the Local Authority, namely, Executive Officer, Punjaipugalur Town Panchayat, Velayuthampalayam, Karur District. Therefore, on 12.08.2014, a gift deed was presented by the petitioner before the second respondent for registration and the same was registered as document No.962 of 2014. In view of execution of the gift deed, the petitioner had complied with the conditions stipulated in the proceedings, dated 13.10.2015. The Town Panchayat of Punjaipugalur has also passed a resolution, on 24.07.2013, resolving to recognize the Layout formed by the petitioner.