(1) Any land, space (horizontal and vertical), site, building, asset, utility, surface or hoarding under the control of any local authority, Department or wing of the Government, Government corporations or Public Sector Undertakings which is earmarked by it for the purpose of construction, erection, or placement of a hoarding or for usage for display shall be put to auction, in such manner as may be prescribed.
(2) Such allotment by way of auction for the purpose of construction, erection, or placement of a hoarding shall be for a period of 10 years on Design Build Operate Transfer basis (DBOT), Provided his registration under sub-section (1) of Section 9 is continuously valid.
(3) Any allotment by way of auction in terms of sub-section (1) shall not be automatically renewed.
The use of the land, space (horizontal and vertical), site, building, asset, utility, surface or hoarding shall be put to re-auction upon the expiry of the allotment period.