Section 72 in Tamil Nadu State Housing Board Act, 1961
72. Power to dispose of land.
(1)The Board may retain or may lease, sell, exchange or otherwise dispose of any land vested in or acquired by it under this Act.(2)Whenever the Board decides to lease or sell any land acquired by it under this Act from any person, it(a)shall give notice by advertisement in one of the leading local newspapers in the State, and(b)shall offer to the said person, or his heirs, executors or administrators, a prior right to take on lease or to purchase such land for an amount or at a rate to be fixed by the Board, if the Board considers that such an offer can be made without detriment to the carrying out of the purposes of this Act.(3)If in any case two or more persons claim to have the referred to in clause (b) of subsection (2) preference claim be given to the person who agrees to pay the highest amount or rate for the land not being less than the amount or rate fixed by the Board under that clause.
