Section 12 in The Goa, Daman and Diu Buildings (Lease, Rent and Eviction) Control Act, 1968
12. Rent Tribunal to determine fair rent.
(1)The Rent Tribunal shall, on application by the landlord or the tenant of a building, fix the fair rent payable per annum for such building after holding such inquiry as may be prescribed.(2)The fair rent payable per annum shall consist of-(a)["twelve per cent"] [In place of word seven and half percent the word twelve percent substituted by Amendment Act 8 of 1994, published in the Official Gazette, Series I No. 5 dated 5-5-1994 and came into force at once.] of the market value of the building (including the land on which the building is constructed) as on [".."] [The words 'the 1st day of January, 1965, or' were omitted vide Amendment Act No. 17 of 2003, published in the Official Gazette, Series I No. 10 dated 9th June, 2003.] the date of the completion of the building, ["..."] [The words 'whichever is later' were omitted vide Amendment Act No. 17 of 2003, published in the Official Gazette, Series I No. 10 dated 9th June 2003.] and ["Provided that the fair rent once fixed shall automatically stand increased by 2% per annum"] [Proviso is substituted by Amendment Act No. 17 of 2003, published in the Official Gazette, Series I No. 10 dated 9th June, 2003. Original proviso read as follows : 'Provided that where the building has been let out for the first time previous to the 1st day of January, 1965, the fair rent shall not exceed the rent payable in respect of such building on that date.'].(b)fifty per cent. of the taxes or cesses levied by the local authority and payable per annum by the landlord in respect of the building including the land on which the building is constructed.
