81. Power to dispose of land. - (1) The Board may retain, or may let on hire, lease, sell, exchange or otherwise dispose of, any land vested in or acquired by them under this Act.
(2)Whenever the Board decide to lease or sell any land acquired by them under this Act from any person, they -(a)shall give notice by advertisement in local newspapers, 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, at a rate to be fixed by the Board, if the Board consider that such a right can be given without [prejudice to public interest or] detriment to the carrying out of the purposes of this Act.(3)If in any case two or more persons claim to exercise a right offered under clause (b) to take on lease or to purchase any land, the right shall be exercisable by the person who agrees to pay the highest sum for the land, not being less then the rate fixed by the Board under that clause, to the exclusion of the others.[(4) Notwithstanding anything contained in sub-sections (2) and (3) or in any other provision of this Act when the Calcutta Metropolitan Development Authority constituted under the Calcutta Metropolitan Development Authority Act, 1972 (hereinafter referred to as the Authority), or the West Bengal Housing Board constituted under the West Bengal Housing Board Act, 1972, (hereinafter referred to as the Housing Board), requires any land vested in or acquired by the Board under this Act, for carrying out any of the purposes of the Act under which the Authority or the Housing Board, as the case may be, was constituted, the Authority or the Housing Board, as the case may be, may ask the Board to let on hire, lease, sell, exchange or otherwise dispose of such land to itself and the Board shall comply with such demand and forthwith transfer possession of such land in favour of the Authority or the Housing Board].[(5) The amount of consideration at which any land shall be let on hire, leased, sold, exchanged or otherwise disposed of under sub-section (4) shall be such as may be agreed upon between the Authority or the Housing Board, as the case may be, and the Board and if they fail to reach an agreement the parties or any of them shall refer the matter to the State Government and the decision of the State Government thereon shall be final].
