Disposal of land by Corporation

(1) Subject to any directions given by the State Government under this Act, the Corporation may dispose of- (a) any land acquired by the State Government and transferred to it without undertaking or carrying out any development thereon ; or (b) any such land after taking or carrying out such development as it thinks fit, to approved beneficiaries; and other persons in accordance with the priorities mentioned in or under section 43 in such manner and subject to such terms and conditions, as it considers expedient for securing the purposes of this Act.