When any land, whether within or without the limits of a municipality is required for the purposes of this Act, the State Government may, at the request of the Nagar Panchayat or the Council, proceed to acquire it under the provisions of the Land Acquisition Act, 1894 (1 of 1894), and on payment by the Nagar Panchayat or the Council, as the case may be, of the compensation awarded under that Act and of any other charges incurred in acquiring the land, the land shall vest in the Nagar Panchayat or the Council, as the case may be.