Amendment status not verified — confirm the current text below against the official source.
1 [4. Lease of Land. ––(1) The Government shall determine the extent of land available for building purposes and 2 [may make rules for grant of land on lease] for such purposes on such conditions including those relating to premium and ground rent as may be prescribed. 3 [x x x x] 4 [(2) Notwithstanding anything to the contrary contained in any law for the time being in force–– 5 [x x x x] (ii) no person shall transfer the lease hold rights granted under subsection (1), in any manner whatsoever excepting in favour of a natural inheritor and any transfer made in contravention of the said restriction shall, ipso facto, terminate the lease and the land shall escheat to the State along with the appurtenances thereto without any compensation.] 6 [(3) The Government may notify the competent authority or authorities for granting lease under sub-section (1) to different categories of persons for such purposes and in such areas as may be specified. Subject to the general and specific direction of the Government, the competent authority so notified shall grant the land on lease subject to the rules notified under sub-section (1) and also subject to land use defined under the Master Plan, Zonal Plan or Regional Plan by development authority prescribed under the Development Act, 1970 and Land Revenue Act, Samvat 1996 as the case may be.]