Section 9(4) in The M.P. Krishi Upaj Mandi (Allotment of Land and Structure of Market Committee/board) Rules, 2005
(4)After expiry of lease period, which shall not be more than 30 years, the lease may be renewed on a written application by the lessee as per the changed circumstances after taking into consideration the prevalent market rent. The annual lease rent shall be fixed by the Market Committee/Board with the prior approval of the Managing Director :Provided that the lessee shall have to apply in writing to the Market Committee of the Board, as the case may be for renewal of the lease before 30 days of expiry of lease period :Provided further that in case of non-renewal of the lease, the land or structure shall be taken back in possession by the Market Committee or the Board as the case may be, and premium amount shall be refunded to the concerned lessee without interest in single instalment within 60 days after expiry of the lease period.
