Section 7(14)(b) in The Maharashtra Rent Control Act, 1999
(b)where the standard rent or fair rent is not so fixed, then subject to the provisions of sections 6 and 8,-(i)the rent at which the premises were let on the 1st day of October 1987; or(ii)where the premises were not let on the 1st day of October 1987, or the rent at which they were last let before that day, plus an increase of 5 per cent, in the rent of the premises let before the 1st day of October, 1987, or