Section 129(5) in Uttar Pradesh Municipal Corporation Act, 1959
(5)[ Except as provided in sub-sections (5-A) and (5-B), no immovable property belonging to the Corporation shall be sold, leased or otherwise transferred for a sum less than the market-value thereof except in the case of sale, lease or other transfer of land- [Substituted by U.P. Act 22 of 1961, again Substituted by U.P. Act 21 of 1964 and again by U.P. Act 24 of 1972.](a)to a statutory corporation,(b)to a person displaced from any land (not being land held or occupied for purposes connected with agriculture, horticulture or animal husbandry which includes pisciculture and poultry farming) or building by reason of the compulsory acquisition thereof under this Adhiniyam and who does not own any land or building within the City, or(c)for an educational, cultural or other charitable purpose (not including the practice or propagation of any religion and not involving discrimination in respect of the beneficiaries on the ground of religion, caste or place of birth) to a society registered under the Societies Registration Act, 1861:Provided that except in the case of a sale, lease or other transfer of land with the previous approval the State Government, the value of any concession so granted shall not exceed(i)in the case of a lease, one-half of the annual rental value;(ii)in the case of any other transfer, one-half of the market value or ten thousand rupees whichever is less.Explanation. - If any question arises as to the value of a proposed concession or as to whether the purpose of a proposed transfer is an educational, cultural or other charitable purpose as aforesaid the decision of the State Government shall be final.(5-A) A house built or a plot of land acquired by the Corporation from a loan granted by the Central Government or the State Government or any other authority be sold, leased or otherwise transferred by the Corporation in accordance with the terms and conditions of such loan.(5-B) Subject to any general or special order of the State Government in that behalf, a house or a house-site belonging to the Corporation may be sold, leased or otherwise transferred either free of cost or on such concessional terms as the Corporation thinks fit, in favour of any member of the armed forces of the Union in whose favour the prescribed authority under the Indian Soldiers (Litigation) Act, 1925 has issued a certificate that he has been disabled by enemy action or where the said prescribed authority has certified that he has died by enemy action, then in favour of such of his heirs as were dependant on him at the time of his death.]
