GREAVES LTD Vs. V S RAGHAVAN

JUDGEMENT

(1.) AGGRIEVED by fixation of fair rent at Rs.59,590/-, Tenant has preferred these revisions. The demised premises is situated at No.13, II Line Beach Road, Madras.

(2.) FOR convenience, parties are referred in their original rank in RCOP.

(3.) FINDING that the building is aged 70 years and calculating 1% depreciation, Rent Controller fixed the cost of construction, including amenities at Rs.11,12,334/-. On the basis of Ex.R-3, Rent Controller fixed the ground value at Rs.11,00,000/- and fixed the market value of the site at Rs.26,13,417/- and fixed the fair rent at Rs.37,258/- [Rs.3.30 per sq.ft.].