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State of Punjab - Section
Section 7 in The Punjab Rent Act, 1995
7. [ [Omitted by Punjab Act No. 33 of 2013, dated 16.4.2013]
***]| 7. Standard Rent.- (1) For the existing tenancies, fair rent previously fixed by the Rent Controller under the East Punjab Urban Rent Restriction Act, 1949 and other cases of disputed rate of rent shall be reassessed in accordance with the provisions of this section.(2) "Standard rent" in relation to any premises, means the rent calculated on the basis of ten per cent, per annum of the aggregate amount of the cost of construction and the market price of the land comprised in the premises on the date of commencement of the construction :Provided that the standard rent calculated as aforesaid shall be enhanced in the manner provided in Schedule I to this Act.(3) For the purposes of this section, -(a) cost of construction shall also include cost of electrical fittings, water pumps, overhead water tanks, storage tank and other water, sewerage and other fixtures and fittings affixed in the premises;(b) in case any fixtures and fittings referred to in clause (a) are in common use by more than one occupant in a building, such proportion of cost of the fixtures and fittings shall be included in the cost of construction of the premises as bears the proportion to the plinth area of such premises to the plinth area of that building;(c) the cost of construction and the market price of the land comprised in the premises purchased from or allotted by the Government or a local authority shall be the aggregate amount payable to such Government or the local authority, as the case may be, for the premises :Provided that the Rent Authority may, for the purpose of arriving at, the cost of construction and the market price of the land comprised in the premises, allow addition subject to a maximum of thirty per cent, of the amount payable to the Government or the local authority, as the case may be, to the amount so payable for any expenditure incurred by the landlord or by the first or any subsequent purchaser or allottee for any improvement, addition or structural alteration in the premises. |