You need prior consent of charity commissioner to give nursing college on lease 

2)no sale, exchange or gift of any immovable property, and no lease for a period exceeding ten years in the case of agricultural land or for a period exceeding three years in the case of non-agricultural land or a building, belonging to a public trust, shall be valid without the previous sanction of the Charity Commissioner.

3)in case the trust wishes to give the immovable property on lease, then such advertisement is required to be given in two popular local newspapers (one English out of them),

4) Sanction may be accorded subject to such condition as the Charity Commissioner may think fit to impose, regard being had to the interest, benefit or protection of the trust.

As per the Act, powers of a public charitable trust to deal with its immovable properties are restricted in a manner that such deals are bonafide and in the best interests of such trust.

Imparting of education is regarded as an activity that is charitable in nature. Education has
so far not been regarded as a trade or business where profit is the motive.

The lease has to be approved by the Commissioner , Endowment Department.

in respect of an immovable property, such trust can enter into a valid transaction of sale, exchange, gift or lease for a period exceeding ten years in the case of agricultural land,  lease for a period exceeding three years in the case of non-agricultural land or a building only with the  previous sanction of the charity commissioner.

While according such sanction, the charity commissioner  may impose conditions as he may think fit on consideration of the interest, benefit or protection of the trust or on such considerations, he may, on application, authorise any trustee to dispose of such property subject to such conditions as he may think fit to impose.

It’s legal to lease out

First of all, please check your trust deed to see if there is a provision for leasing out the trust property to another society. If so, you may pass a resolution in the meeting of the board of trustees to that effect and proceed further by executing a lease deed with the society. Otherwise, your trust deed needs to be amended suitably to accommodate this requirement.

Legality of Leasing Out the Nursing CollegeYes, it is generally legal to lease out a nursing college run by a charitable trust in India. There are, however, some legal procedures and considerations to follow.Legal Procedures to FollowHere's a general roadmap for leasing out the college:

Trust Deed Review: Carefully review your charitable trust's deed to ensure it allows leasing the property or running a nursing college.

Governing Body Approval: The trust's governing body needs to formally approve the lease proposal through a resolution.

Society Registration Verification: Verify the educational society's registration and credentials to ensure they are a legitimate institution.

Lease Agreement: Draft a comprehensive lease agreement outlining the terms and conditions of the lease. This should include:

Lease periodRent amount and payment scheduleMaintenance responsibilitiesUse of the property (specifically for running a nursing college)Termination clauseRenewal clause (if applicable)

Government Permissions: You might need approvals from authorities like the Indian Nursing Council (INC) or the affiliating university depending on your location and lease agreement specifics. Consult a lawyer to determine any necessary permissions.

Registration of Lease Deed: Register the final lease agreement with the local sub-registrar's office for legal validity.

Legal Liabilities of the TrustAs the lessor (party leasing the property), the trust will have certain legal liabilities:Maintaining the Property: The lease agreement should clearly specify which party is responsible for maintaining the property's infrastructure during the lease period.Compliance with Lease Agreement: The trust has a legal obligation to uphold the terms of the lease agreement.Selecting a Reputable Society: The trust has a responsibility to ensure the leasing society operates the college ethically and maintains academic standards. Due diligence in verifying the society's reputation is crucial.