Rent Authority to fix or revise rent

Rent Authority to fix or revise rent.-

1. (1) The Rent Authority, on an application by the tenant or landlord shall fix or revise, as the case may be, the rent payable for any premises:
   • (a) in case the premises is let out or sub-let, it shall be in accordance with the rent agreement;
   • (b) in case of any dispute between the landlord and the tenant regarding the rent to be paid, the Rent Authority shall fix the rent as per the prevailing market rate of similar premises in the locality.
2. (2) While fixing the rent for any premises, the Rent Authority shall take into account the prevalent market rent of similar premises in the locality.