Section 241(2) in The Madurai City Municipal Corporation Act, 1971
(2)Any land or building acquired under clause (b) of sub-section (1), may be sold, leased or otherwise disposed of after public advertisement,and , any conveyance made for that purpose may comprise such conditions as the standing committee thinks fit as to the removal of the existing building,if any, the description of the new' building, if any, to be erected, the period within which the new buildings, if any, shall be completed and any other similar matters.