Amendment status not verified — confirm the current text below against the official source.
With respect to the disposal of property belonging to the Corporation the following provisions shall have effect, namely:- (a) the Commissioner may,- (i) dispose of by sale or otherwise, any movable property belonging to the Corporation the value of which does not exceed twenty thousand rupees; (ii) grants a lease not exceeding a period of 10 years, of any immovable property belonging to the Corporation; or (iii) sell or grant a lease in perpetuity of any immovable property belonging to the Corporation the value of which does not exceed twenty thousand rupees or the annual rent of which does not exceed ten thousand rupees; (b) in cases not covered by clause (a) the Commissioner may, with the sanction of the Government on recommendation of the Corporation, lease, sell, let out on hire or otherwise transfer any property movable or immovable belonging to the Corporation; l[(C) the consideration for which any immovable property may be sold, leased or otherwise transferred shall not be less than value at which such immovable property could be sold, leased or otherwise transferred in normal and fair competition; I. Substituted by Haryana Act 18 of 2018. 1994 : Hr. Act 16] MUNICIPAL CORPORATION 467 Provided that in case of transfer of immovable property to Government Department by way of sale or lease or otherwise, the property may be transferred at collector rate, subject to prior approval from the Government. Provided further that in case of transfer of shop and house to individual, who is in possession of such peroperty for the last twenty years, by way of rent or lease or otherwise, the property may be transferred at collector rate by way of sale, subject to prior approval of such authrority, as may be prescribed.] (d) the sanction of the Government under the aforesaid clauses may be given either generally for any class of cases or specially for any particular case; (e) subject to any condition or limitation that may be specified by or under, or for any purposes of this Act; (f) every case of disposal of property under clause (a) shall be reported by the Commissioner without delay to the Corporation.