Section 2(v) in Meghalaya Urban Areas Rent Control Act, (Amendment) Act, 1972
(v)"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 per cent of the aggregate amount of the estimated cost of construction and the market price of the land together with 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 month rent shall be equal to one-twelfth of the annual payment so calculated :
