Power to enhance ground rent.

Notwithstanding anything contained in the Rules for the Allotment of Building Sites in Srinagar and Gulmarg, Svt. 1962, the Rules for Grant of Lands in Jammu and Kashmir for Building Purposes (Ailan No. 10 dated 7th Bhadun, 1976) and the Rules for grant of Land at Gulmarg and Pahalgam in Kashmir for Building Purposes, or in any instrument executed thereunder or in any other law for the time being in force, the 1[Government of the Union territory of Jammu and Kashmir] or such authority as may be prescribed may, having regard to the circumstances of the leased land and to the market value of similar lands in the neighbourhood, enhance the ground rent in respect of a lease subsisting on the date of commencement of this Act at the time of its renewal by an amount not exceeding one hundred and fifty per cent of the rent fixed for the term of the lease immediately preceding its renewal.