Section 53(1) in The U.P. Water Supply and Sewerage Act, 1975
(1)For the purposes of [sub-section (2) of] [Inserted by Section 3 of Act No. 16 of 1999.] of Section 52, annual value means -(a)in the case of railway stations, educational institutions (including their hostels and halls) factories (as defined in the Factories Act, 1948), and commercial establishments (as defined in the Uttar Pradesh Dookan Aur Vanijya Adhisthan Adhiniyam, 1956), five per cent of the market value of the premises;(b)in the case of any other premises, the gross annual rent for which such premises are actually let or where the premises are not let, the gross annual rent for which the premises might reasonably be expected to be let :Provided that the annual value in the case of premises occupied by the owner himself shall be deemed to be twenty-five per cent less than the annual value otherwise determined under this section.
