Section 8(2) in The Bombay City (Inami and Special Tenures) Abolition and Maharashtra Land Revenue Code (Amendment) Act, 1969
(2)Subject to the provisions of this Act, the Collector shall, with the approval of the State Government, fix the rate of assessment per square metre of land each revenue division (to be called "the standard rate of assessment") which shall be a sum equal to five per cent of the average of the market value of unbuilt plots in such revenue division.
