Subject to the provisions of this Chapter, the Corporation shall have power—
(a) to acquire and hold such property, both movable and immovable as the Corporation may deem necessary for the performance of any of its activities, and to lease, sell, exchange or otherwise transfer any property held by it on such conditions as may be deemed proper by the Corporation;
(b) to purchase by agreement or to take on lease or under any form of tenancy any land, to erect such buildings and to execute such other works as may be necessary for the purpose of carrying out its duties and functions ;
(c) to provide or cause to be provided amenities and common facilities in industrial estates, commercial centers and industrial areas and construct and maintain or cause to be maintained works, buildings, amenities and common facilities thereof ;
(d) to make available buildings on hire or sale to industrialists or persons intending to start industrial undertakings or commercial establishments or both the industrial undertakings and commercial establishments ;
(e) to construct buildings for the housing of the employees of such industries or commercial establishments ;
(f) (i) to allot factory sheds or such buildings or parts of buildings, including residential tenements to suitable persons in the industrial estates established or the industrial areas developed by the Corporation ;
(ii) to allot shops and other buildings to suitable persons in commercial centers established by the Corporation ;
(iii) to modify or rescind such allotments, including the right and power to evict the allottees concerned on breach of any of the terms or conditions of their allotment ;
(g) to constitute committees from amongst its Directors to perform any of its functions ;
(h) to constitute advisory committees to advise the Corporation ;
(i) to engage suitable consultants or persons having special knowledge or skill to assist the Corporation in the performance of its functions ;
(j) to delegate any of its powers generally or specially to any of its committees or officers and to permit them to re-delegate specific powers to their subordinates ;
(k) to enter into and perform all such contracts as it may consider necessary or expedient for carrying out any of its functions ; and
(l) to do such other things and perform such acts as it may think necessary or expedient for the proper conduct of its business and the carrying into effect the purposes of this Chapter.
(m) Notwithstanding anything contained in any other law in force, the powers under Jammu and Kashmir Town Planning Act, 1963, Jammu and Kashmir Municipal Act, 2000 and Jammu and Kashmir Municipal Corporation Act, 2000 shall be exercised by the Corporation wherever necessary.