Amendment status not verified — confirm the current text below against the official source.
(1) The*[Central Government] may, from tim declare New to time, by notification in the official gazette, declare any a area to be a new mandi township for the Purposes of this land and building Act to be Known by such name as may be specified in the therein. notification. (2) The ‘[Central Government] may sell, lease o otherwise transfer, by auction, allotment or otherwise, ane land or building belonging to or vested in the [Centra] Go. vernment] in any new mandi township on such terms and conditions as it may, subject to any rules that may be made under this Act, deem fit to impose. (3) Any amount due to the [Central Gover nment on account of the sale, lease or transfer of any site or build ing under sub-section (2) shall be a first charge on that Site or building, and, notwithstanding anything contained in an other law for the time being in force, no transferee shall be entitled to sell, mortgage or otherwise transfer any right title or interest in the site or building transferred to him under sub-section (2) except by way of a lease from month to month until the amount mentioned as first charge under this sub-section has been paid in full.