Judgment

SHAH, AG. C. J.: The Legislature of the State of Madras enacted the Madras Buildings (Lease and Rent Control) Act, 1960. Section 4 of the Act (insofar as it is relevant) provides:

"(1) The Controller shall, on application by the tenant or the landlord of a building and after holding such inquiry as the Controller thinks fit fix the fair rent for such building in accordance with the principles set out in sub-section (2) or in sub-section (3), as the case may be, and such other principles as may be prescribed.

(2) * * * *

(3) (a) The fair rent for any non-residential building shall be at nine per cent, gross return per annum on the total cost of such building.

(b) The total cost referred in clause (a) shall consist of-

(i) the cost of construction as calculated according to such rates for such classes of non-residential building as may be prescribed less the depreciation at such rates as may be prescribed:

(ii) the market value of that portion of the site on which the non-residential building is constructed;

and shall include such allowances as may be made for considerations of locality in which the non-residential building is situated, features of architectural interest, accessibil