(1) In the case of a building to which the old Act was applicable and which is let out at the time of the commencement or this Act in respect of which there is neither ally reasonable annual rout nor any agreed rent or in any other case where there is neither any agreed rent nor any assessment in force, the District Magistrate shall, on an application being made in that behalf, determine the standard rent.
(2) In determining the standard rent, the District Magistrate may consider-
(a) the respective market value of the building and of its side immediately before the date of commencement of this Act or the date of letting, whichever is later (hereinafter in this section referred to as the said date) ;
(b) the cost of construction, maintenance and repairs of the building;
(c) the prevailing rents for similar buildings in the locality immediately before the said date;
(d) the amenities provided in the building;
(e) the latest assessment, if any, of the building;
(f) any other relevant fact which appears in the circumstance of the ease to he material.
[(2-A) Subject to the provisions of sub-section (2), the District Magistrate shall ordinarily consider ten per centum per annum on the market values of the building (including its site) on the said date to be the annual standard rent thereof and the monthly standard rent, shall be equal to one-twelfth of the annual standard rent so calculated.]1
(3) Every order made under sub-section (1) shall, subject to the result of any appeal preferred under section 10, be final.
Footnotes in the official text
- 1.Added by section 5 of U.P. Act No. 28, 1976.