When, under any provision of this Act, a court has to determine the amount of compensation due on account of an improvement, it shall have regard--
(a) to the amount by which the value or the produce of the holding, or the value of that produce, is increased by the work,
(b) to the condition of such work and the probable duration of its effect,
(c) to the extent or benefit to which the landholder or the tenant may be entitled under section 51, and
(d) to the labour and capital required for the making of such work, allowing for--
(i) any reduction or remission of rent or any other advantage allowed to the tenant by the landholder in consideration of the work,
(ii) any assistance given to the tenant by the landholder in money, material or labour, and
(iii) in the case of reclamation or of conversion of unirrigated to irrigated land, the length of time during which the party claiming compensation has had the benefit of the improvement.