Intestate property over four hundred rupees in value.

If the property regarding which a report is made to a Magistrate under section 83 or under section 19 of the Bombay Village Police Act, 1867 (Bom. VIII of 1867), 1[or of that Act as in force in Kutch area of the State of Bombay, or under section 21 of the Saurashtra Village Police Ordinance, 1949 (Saur. Ord. XXXI of 1949),] appears to such Magistrate to have been left by a person who has died intestate and without known heirs and to be likely, if sold in public auction, to realise more than, four hundred rupees net proceeds, he shall communicate with the District Judge with a view to its being dealt with under the provisions of section 10 of Bombay Regulation VIII of 1827 (Regulation to provide for the formal recognition of heirs, etc.) or other law in force.