Section 92 in The Mumbai Municipal Corporation Act, 1888
92. Provisions governing the disposal of municipal property.
-With respect to the disposal of property belonging to the Corporation [other than property vesting in the Corporation for the purposes of the [Brihan Mumbai Electric Supply and Transport Undertaking] [These words were inserted by Bombay 48 of 1948, Section 18.] ], the following provisions shall have effect, namely :-(a)the Commissioner may, [subject to the regulations made in this behalf] [These words were substituted for the words 'in his discretion' by Maharashtra 10 of 1998, Section 53(a)(i).], dispose of, by sale or otherwise, any movable property belonging to the corporation not exceeding in value, in each instance, [five lakh rupees] [These words were substituted for the words 'one lakh rupees' by Maharashtra 10 of 1998, Section 53(a)(ii).], or grant a lease of any immovable property belonging to the corporation; including any right of fishing or of gathering and taking fruit and the like, for any period not exceeding twelve months at a time :[Provided that every lease of immovable property granted by the Commissioner (other than a contract for a monthly tenancy) the annual rent whereof at a rack rent exceeds [fifty thousand rupees] [This proviso was substituted for the original by Bombay 13 of 1933, Section 20(a).] shall be reported by him, within fifteen days after the same has been granted, to the [Improvements Committee] [These words were substituted for the words 'Mayor-in-Council' by Maharashtra 27 of 1999, Section 43(a), (w.e.f. 23-4-1999).]];(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];(c)with the sanction of the corporation, the Commissioner may lease, sell or otherwise convey [any immovable property] [These words were substituted for the words 'any property movable or immovable' by Maharashtra 21 of 1989, Section 8(3).] belonging to the corporation;(cc)[ the consideration for which any immovable property or any right belonging to the corporation may be sold, leased or otherwise transferred shall not be less than the market value of such premium, rent or other consideration;] [New sub-clause (cc) was inserted by Bombay 13 of 1933, Section 20(c).](d)[ sanction of the [Standing Committee] [Clause (d) was substituted by Maharashtra 10 of 1998, Section 53(c).] under clauses (b) and (c), may be given either generally for any class of cases or specially in any particular case;](dd)[ notwithstanding anything contained in this section, the Commissioner may, with the sanction of the Corporation, and with the approval of the State Government, grant a lease of immovable property belonging to the Corporation to a Cooperative Housing Society formed exclusively by the officers and servants of the Corporation, or to a public trust exclusively for medical and educational purposes registered under the Bombay Public Trusts Act, 1950 [or to a society registered under the Societies Registration Act, 1860 or the Maharashtra Cooperative Societies Act, 1960, a public trust registered under the Bombay Public Trust Act, 1950, or a company registered under the Companies Act, 1956 [or any person] [Clause (dd) was inserted by Maharashtra 50 of 1981, Section 2.] for the purposes of provision of public latrines, urinals and similar conveniences or construction of a plant for processing excrementitious and other filthy matters of garbages,] or to a person who is dishoused as a result of the implementation of any Development Scheme of the Corporation or to a Co-operative Housing Society formed exclusively by the persons who are dishoused as a result of the implementation of any Development Scheme of the Corporations, at such rent, which may be less than the market value of the premium, rent, or other consideration, for the grant of such lease, and subject to such conditions, as may be provided by the bye-laws made under section 461;](ddd)[ notwithstanding anything contained in this section, the Commissioner may, with the sanction of the Corporation, and with the approval of the State Government, grant a lease for a period [not exceeding 60 years] [Clause (ddd) was inserted by Maharashtra 5 of 1986, Section 3.], of municipal land which is declared as a slum area under the provisions of the Maharashtra Slum Areas (Improvement, Clearance and Re-development) Act, 1971 to a co-operative society of slum dwellers occupying such land, at such rent, which, may be less than the market value of the premium, rent or other consideration, for grant of such lease, and subject to such conditions, as the Corporation may impose.The approval of the State Government under this clause may be given either generally for any class of cases of such lands or specifically in any particular case of such land:Provided that, the Commissioner may in like manner renew, from time to time; the lease for such period and subject to such conditions as the Corporation may determine and impose.](dddd)[ All leases granted by the corporation of the immovable properties belonging to the corporation for whatever term shall be subject to the following conditions in addition to the conditions stipulated in the Lease-deed or Lease-agreement executed by the corporation, namely :- [[Clause (dddd) was added by w.r.e.f. 22-6-1993 by the Maharashtra 20 of 2012, Section 2.Validation section 3 is as under:
