Section 138(1) in The Chhattisgarh Municipal Corporation Act, 1956
(1)Notwithstanding anything contained in this Act or any other law for the time being in force, the annual letting value of any building or land, whether revenue paying or not, shall be determined as per the resolution of the Corporation adopted in this behalf, [on the basis of per square meter of the built-up-area] [Substituted 'on the basis of per square foot of the carpet area' by C.G. Act No. 18 of 2012, dated 1.8.2012.] of a building or land, as the case may be taking into consideration the area in which the building or land is situated, its location, situation, purpose for which it is used, its capacity for profitable user, quality of construction of the building and other relevant factors and subject to such rules, as may be made by the State Government in this behalf.[(1-a) The draft resolution mentioned in sub-section (1) shall be prepared and submitted by the Commissioner for the financial year next on or before 31st December of each financial year, and in case the Corporation fails to adopt the resolution by the last day of February of that financial year, the resolution shall be approved by the Mayor and shall be deemed to be the resolution finally adopted by the Corporation :Provided that if the Mayor does not approve the draft resolution prepared by the Commissioner by 31st March of a financial year, then the draft resolution as prepared by the Commissioner shall be deemed to be the resolution finally adopted by the Corporation.] [Inserted by C.G. Act No. 18 of 2012, dated 1.8.2012.]
