Section 174(3) in The Calcutta Municipal Corporation Act, 1980
(3)If the gross annual rent of any class or classes of lands or buildings used exclusively for hospital or educational purposes or [for the purposes of sports or as a place of worship or as a place for disposal of the dead] [Words substituted by W.B. Act 13 of 1984.] cannot be easily estimated, the gross annual rent of such building shall be deemed to be five per cent, of the value of the building obtained by adding the estimated cost of erecting the building at the time of assessment less a reasonable amount to be deducted on account of depreciation, if any, to the estimated present market value of the land valued with the building as part of the same premises.
