Section 8(8) in The Bombay City (Inami and Special Tenures) Abolition and Maharashtra Land Revenue Code (Amendment) Act, 1969
(8)The full assessment fixed as aforesaid shall be levied gradually in the following manner, that is to say-(a)for the first ten years from the appointed day, at the rate of 10 per cent, of the full assessment;(b)for the next ten years, at the rate of 25 per cent for the full assessment;(c)for the next ten years, at the rate of 50 per cent of the full assessment;(d)for the next ten years, at the rate of 75 per cent of the full assessment.After the expiry of 40 years commencing on the appointed day, the lands in each revenue division shall be liable to the payment of full assessment for the succeeding period of ten years; and thereafter, the full assessment of these lands shall become liable to be revised as provided by section 262E of the Code; and until assessment is so revised the assessment made shall continue in force, notwithstanding the expiry of the period of guarantee.
