Section 5 in The Maharashtra Housing and Area Development (Disposal of Land) Rules, 1981
5. Disposal of land by lease.
(1)[Subject to the provisions of rule 5A and except for the purpose] [Substituted by G.N. of 15.4.1986.] of raising loans, the vacant lands shall ordinarily be disposed of by a grant of lease.(2)Subject the directions given by the Authority from time to time, the Chief Officer, may dispose of any vacant land or plot reserved for residential use in the approved schemes, by a lease to be granted in consideration of premium or rent or both for a term not exceeding 90 years and in the manner prescribed in the regulations to be made by the Authority for the purpose.(3)The premium and lease rent to be charged shall be worked out in a manner to be laid down by the Authority in its regulations or by charging lease rent on the market value at a rate to be decided by the Authority.
