Automatic lapse of building permit on change of right and title of land or building or terms and conditions of lease of

A building permit granted under section 272 or section 273 shall lapse automatically if - (1) the right and title, or the lease, of- (a) the land on which a building activity is proposed, or (b) the building, is changed, or (2) the person on record ceases to function as such for whatever reasons, and, thereupon, a fresh building permit may be granted under section 272 or section 273, as the case may be.