Section 2(e) in The Assam Urban Areas Rent Control Act, 1972
(e)"standard rent" in relation to any house means the rent calculated on the basis of annual payment of an amount equal to seven and half percent of the aggregate amount of the estimated cost of construction and the market price of the land together with the total municipal taxes payable in respect of the house and Urban Immovable Property Tax under the Assam Urban Immovable Property Tax Act 1969 (Assam Act XI of 1969), and monthly rent shall be equal to one-twelfth of the annual payment so calculated :
