Amendment status not verified — confirm the current text below against the official source.
259[(1) (a) 260[Notwithstanding anything contained in the 261Telangana Buildings (Lease, Rent and Eviction) Control Act, 1960 the annual rental value of the lands and buildings] shall be demmed to be the gross annual rent at which they may reasonably be expected to be let from month to month or from year to year with reference to its location, type of construction, plinth area, age of the building, nature of use to which it is put and such other criteria as may be prescribed; (b) the annual rental value of lands and buildings shall be deemed to be the gross annual rent at which they may reasonably be expected to let from month to month or from year to year, less a deduction at the rate of 10% for buildings aged upto 25 years; and 20% for the buildings aged above 25 years; of that portion of such gross annual rent which is attributable to the buildings, apart from their sites and adjacent lands occupied as an appurtenance thereto and the said deduction shall be in lieu of all allowances for repairs or on any other account whatsoever: Provided that a rebate of 40 percent of the annual rental value shall be allowed in respect of the residential buildings occupied by the owner inclusive of the deduction permissible elsewhere.] 262[(1A) The annual rental value of lands and buildings arrived at under sub-section (1) shall be subject to the guidelines given by the State Property Tax Board referred to in section 197-A from time to time.]