Section 75(2) in Chennai City Municipal Corporation Act, 1919
(2)[ With the sanction of the standing committee on taxation and finance, the commissioner may lease or dispose by sale or exchange of any corporation movable property the value of which exceeds [five thousand rupees] [Substituted by Act 22 of 1971.], but does not exceed ten thousand rupees in each instance and of any corporation immovable property the value of which does not exceed twenty-five thousand rupees or grant for any term not exceeding three years a lease of any corporation immovable property, or a lease or concession of any such right as aforesaid.]
