(1) Where any building in a slum area is let to a tenant after the execution of any work of improvement or after it has been re-erected, the rent of the building shall be determined in accordance with the provisions of this section.
(2) Where any such building is let to a tenant other than a tenant who is placed in possession, of the building in pursuance of a direction issued under sub-section (4) of section 22 the tenant shall be liable to pay the owner,
(a)if there is a general law relating to the control of rentsin force in the area in which the building is situated and applicable to that building, the rent determined in accordance with the provisions of that law;
(b)if there is no such law in force in such area, such rent as may be agreed upon between the owner and the tenant.
(3) Where any such building is let to a tenant in pursuance of a direction issued under sub-section (4) of section 22, the tenant shall, notwithstandingany law relating to the control of rents in force in thearea, be liable to pay to the owner-
(a)if any work of improvement has been executed in relation to the building an annual rent of a sum equivalent to the aggregate of the following amounts, namely:-
(i)the annual rent the tenant was paying immediately before hevacated the building for improvement;
(ii)six per cent ofthe cost of the work of improvement; and
(iii)six per cent of a sum equivalent to the amount payable in respect of any land which may have been acquired for the purpose of effecting such improvement as if such land were acquired under section 13 on the date of the commencement of the work of improvement;
(b)if the building has been re-erected, an annual rent of a sum equivalent to four per cent of the aggregate cost of reconstruction of the building and the cost of the land on which the building is erected.
Explanation.-Forthe purpose of this clause, "the cost of the land" shall be deemed to be a sum equivalent to the amount payable in respect of theland if it were acquired under section 13 on the date of commencement ofthe reconstruction of the building.