Section 92(b) in The Mumbai Municipal Corporation Act, 1888
(b)[ the Commissioner may,- [Clause (b) was substituted by Maharashtra 13 of 1998, Section 16.](i)with the sanction of the concerned Committee, dispose off, by sale or otherwise any movable property held by the Corporation, the value of which exceeds five lakh rupees;(ii)with the sanction of the [Standing Committee], dispose off any movable property held by the Corporation, the value of which exceeds rupees two crore;(iii)with the sanction of the concerned Committee, grant a lease (other than a lease in perpetuity) of any immovable property belonging to the Corporation, including any such right as aforesaid, or sell, or grant a lease in perpetuity of any immovable property, the value of which does not exceed 50,000 rupees or the annual rent of which does not exceed 3,000 rupees];
