Union Territories & Panchayats
(1) A Municipality continues for five years from its first meeting, unless sooner dissolved - but must be given a reasonable hearing before dissolution. (2)-(4) The same protections as Article 243E (Panchayats) apply: a law amendment can't dissolve a sitting Municipality early, fresh elections must generally happen within six months of an early dissolution, and a re-formed Municipality only serves the remainder of the original term.
This mirrors Article 243E (Panchayat duration) for Municipalities, with one added protection: a Municipality must specifically be given a chance to be heard before it can be dissolved, an extra procedural safeguard not explicitly present in the Panchayat provision.
This is why a state government cannot simply dissolve a city's Municipal Corporation without at least giving it an opportunity to respond first, adding a layer of due process beyond what applies to Panchayats.