12. Rent Tribunal to determine fair rent.

(a) ["twelve per cent"] of the market value of the building (including the land on which the building is constructed) as on [".."] the date of the completion of the building, ["..."] and ["Provided that the fair rent once fixed shall automatically stand increased by 2% per annum"] .
(b) fifty per cent. of the taxes or cesses levied by the local authority and payable per annum by the landlord in respect of the building including the land on which the building is constructed.