Section 175(b) in Karnataka Municipal Corporations Act, 1976
(b)the sanction of the standing committee shall be required for the exchange of any immovable property, for the taking of any property on lease for a term exceeding twelve months, or for the acceptance of any gifts or bequest of property burdened by an obligation; and (c) the sanction of the corporation and the Government 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.
