Section 74(c) in Chennai City Municipal Corporation Act, 1919
(c)the sanction of the council shall be required-(i)for the acceptance or acquisition of any immovable property, if the value of the property which it is proposed to accept, acquire or give in exchange exceeds one thousand rupees;(ii)for the taking of any property on lease for a term exceeding three years; or(iii)for the acceptance of any gift or bequest of property burdened by an obligation, if the value of such property exceeds one thousand rupees.
