Amendment status not verified — confirm the current text below against the official source.
Vesting of property in 2[Government] on the termination of leases granted by the corporation.— 3[(1)] Upon the determination of the further period mentioned in sub-section (4) of section 91A the property vested or revested in the corporation, under the said section in any part of the land specified in Schedule W except those appropriated as open spaces, and the plots 1(a) and 1(e) to 1(i) both inclusive and 1(k) of the Flats shall be forthwith divested and such part of such lands shall vest or revest absolutely in 4[the State Government]. 5[(2) Notwithstanding anything contained in sub-section (1) or sub-section (4) of section 91A, it shall be lawful for the State Government to lease afresh, to the Mumbai Municipal Corporation for the purposes specified in section 91C, any land specified in Schedule W, for a term not exceeding thirty years and thereupon the land shall revest in the Corporation. On such revesting of the land, the provisions of sub-section (1) shall not apply to the said land so long as such lease remains in force and is not determined or is not surrendered or otherwise terminated in accordance with law. (3) On such re-vesting of the land in the Corporation, as provided in sub-section (2), the Corporation shall pay to the State Government, 6[an amount equal to seventy per cent. of the lease rent] that may be received by it. (4) The Corporation may revise the rates of the lease rent 7[at any time within a period of ten years]: Provided that, while revising such rates the Corporation shall be bound by the policy of 8[the Urban Development Department or, where the policy of the Urban Development Department does not exist in respect of such land then of, the Revenue and Forests Department] of the State Government, for granting lease of the Government land. (5) After the expiry of the lease period as provided in sub-section (2), the land shall again vest or revest absolutely, free from all encumbrances in the State Government.]