Section 539(b) in The Calcutta Municipal Corporation Act, 1980
(b)the Municipal Commissioner may, with the sanction of the Mayor-in-Council,-(i)dispose of, by sale or otherwise, any movable property belonging to the Corporation the value of which does not exceed ten thousand rupees; or(ii)grant a lease (other than a lease in perpetuity) of any immovable property belonging to the Corporation; or(iii)sell or grant a lease in perpetuity of any immovable property belonging to the Corporation the value of which dose not exceed fifty thousand rupees or the annual rent of which does not exceed three thousand rupees;
