Section 11 in The Orissa Housing Board Rules, 1970
11. Disposal of property.
(1)Any land vesting in the Board may, with the previous concurrence of the Government be transferred by the Board to the Government ; and when such transfer is made, the loan advanced by Government to the Board shall be reduced to the extent of the purchase value of the land so transferred plus the charges incurred on the establishment for its maintenance and on its development, if any.(2)Any building vesting in the Board may, with the previous concurrence of the Government, be transferred by the Board to Government; and when such transfer is made, the loans advanced by Government to the Board shall be reduced to the extent of the cost of the building so transferred plus the charges incurred on the establishment for its maintenance but less a reasonable amount to be deducted on account of depreciation.(3)The Board may lease out, sell or otherwise dispose of any land building or other property vesting in it into such terms and conditions governing the Housing Scheme concerned or as may be determined by the Board in each particular case :Provided that where the value of the land, or building or other property exceeds Rs. 25,000 the prior approval of the Government shall be taken.
