Assessment Branch- The Branch is considered as the backbone of the organization, assesses the properties and calculates the Annual Rental Value as per section 64 of the Cantonment Act 1924, i.e.
Annual Rental Value means;
|In the case of railway station, colleges, hotels, schools, factories and any other building which a Board decides to assess under the clause, one-twentieth of the sum obtained by adding the estimated present cost of erecting the building to the estimated value of the land appertaining thereto, and|
|In the case of a building or land not assessed under clause (a), the gross annual rent for which such building (excessive of furniture or machinery therein) or such land is actually let or where the building or land is not let or in the opinion of the Board is let for a sum less than its fair letting value, might reasonably be expected to let from years to years.|
|Formula for Annual Rental Value:|
|(Cost of land + Cost of construction) x 5% = Annual Rental Value.|
|Formula for Annual Rental Value for the rented out properties:|
|Actual monthly rent x 12 = Annual Rental Value.|