Gujarat Provincial Municipal Corporations Act, 1949
With respect to the disposal of property vesting in the Corporation exclusively for the purposes of the Transport Undertaking the following provisions shall have effect, namely— (a) the Transport Manager may dispose of by sale, hire or otherwise, any moveable property belonging to the Corporation not exceeding in value, in each instance, two thousand rupees or such higher amount as the Corporation may from time to time with the approval of the '[State] Government determine; (b) the Transport Manager may grant a lease of any immovable property belonging to the Corporation for any period not exceeding twelve months at a time: Provided that every lease granted by the Transport Manager (other than a contract for a monthly tenancy) the annual rent whereof at a rack rent exceeds three thousand rupees shall be reported by him, within fifteen days after the same has been granted, to the Transport Committee; (c) with the sanction of the Transport Committee, the Transport Manager may dispose of by sale or otherwise, any moveable property belonging to the Corporation of which the value does not exceed ten thousand rupees, and may grant a lease of any immovable property belonging to the Corporation for any period exceeding one year, or sell or grant a lease in perpetuity of any immovable property belonging to the Corporation the value where of does not exceed fifty thousand rupees or the annual rental where of does not exceed three thousand rupees; (d) with the sanction of the Corporation, the Transport Manager may lease, sell or otherwise convey any property, moveable or immovable, belonging to the Corporation.