Section 4(4) in The Tamil Nadu Buildings (Lease and Rent Control) Act, 1960
(4)The total cost referred to in sub-section (2) and sub-section (3) shall consist of the market value of the site in which the building is constructed/ the cost of construction of the building and the cost of provision of any one or more of the amenities specified in Schedule as on the date of application for fixation of fair rent:Provided that while calculating the market value of the site in which the building is constructed, the Controller shall take into account only that portion of the site on which the building is constructed and of a portion up to fifty per cent thereof the vacant land, if any, appurtenant to such building, the excess portion of the vacant land, being treated as amenity:Provided further that the cost of provision of amenities specified in Schedule shall not exceed-(i)in the case of any residential building, fifteen per cent; and(ii)in the case of any non-residential building, twenty-five per cent, of the cost of site in which the building is constructed, and the cost of construction of the building as determined under this section.
