Section 5 in The M.P. Nagariya Sthawar Sampatti Kar Adhiniyam, 1964
5. [ Determination and revision of annual letting value. [Substituted by M.P. Act No. 17 of 1966.]
- The annual letting value of a land or building shall for the purposes of the Act be deemed to be an amount equal to,-[x x x](a)where the building is a hotel, factory, or such other building as may be prescribed, one twentieth of the sum obtained by adding the estimated present cost of erecting the building to the estimated value of the land appurtenant thereto;(b)where the land or the building is let out, the annual rent or twelve times of the monthly rent, as the case may be, payable therefor to the owner; and(c)where the land or the building, not being a building covered by sub-clause (a), is not let out and is in the actual occupation of the owner or of any other person on his behalf, other than as a tenant, or is lying vacant, the annual rent or twelve times of the monthly rent at which it could have been let out, having regard to the prevailing rents in the neighbourhood and such other factors as maybe prescribed :Provided that in determining the annual letting value of any land or building under [this clause] [Substituted by M.P. Act No. 49 of 1976 (w.e.f. 1-4-1976).],-(a)the rent or such amount as can reasonably be assessed to be the rent in respect of any machinery, furniture, or fixtures in such land or building; and(c)in cases falling under sub-clauses (b) and (c), ten per cent of the annual rent as determined therein;shall not be taken into account.]
