(1) Nothing in this Act shall apply to any,–
(i) premises owned by the Central Government or State Government or Union Territory Administration or a Government undertaking or enterprises or a statutory body or Cantonment Board;
(ii) premises owned by a company, University or organisation given on rent to its employees as part of service contract;
(iii) premises owned by religious or charitable institution as may be specified , by notification by State Government;
(iv) premises owned by Auqaf registered under the Waqf Act, 1995 (Act. no. 43 of 1995) or by any public trust registered under applicable law;
(v) other building or category of buildings specifically exempted in public interest by notification by the State Government.
(2) Notwithstanding anything contained in sub-section (1), if the owner and tenant of the premises referred to in clause (i) to clause (v) of the said sub-section agree that the tenancy agreement entered into between such landlord and tenant be regulated under the provisions of this Act, such landlord may inform the Rent Authority of the agreement to do so at the time of information of the tenancy agreement under section 4.