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Establishment of Madhya Pradesh Housing Board -The State Government shall, by notification, establish with effect from such date, as may be specified therein, a Board by the name of the Madhya Pradesh Housing Board, which shall be a body corporate having perpetual succession and a common sea] with power, subject to the provisions of this Act, to M.P. GRIHA NIRMAN MANDAL ADHINIYAM, 1972 3 acquire, hold and dispose of property and to contract, and may, by the said name, sue and be sued.