- A second estimate of net assets shall also be framed on the basis of cash rents payable by tenants at will prevailing in the estate or group of estates under consideration on the assumption made in the concluding portion of clause (18) of section 3 of the Act. This estimate shall only be framed where the following factors are present :-(a)the existence in any circle of a system of cash rents on a sufficiently large scale to enable them to be used as a guide in estimating the renting value of the remainder of the land of the circle ; and(b)the recognition in the revenue records of such distinctions of soil and class as are usually accompanied by marked differences of renting value.
