Section 5 of The Punjab Rent (Amendment) Act, 2013 — Substitution of section 6 of Punjab Act 13 of 2012

In the principal Act, for section 6, the following section shall be substituted, namely:- "6. The rent payable in relation to the premises shall be agreed rent between the landlord and the tenant: Provided that the agreed rent shall be increased by five per cent of the last rent for two years and the third year increase shall be based upon the increase in the Consumer Price Index over the corresponding three years. Example.- If the Consumer Price Index increases by eighteen percent in three years, the rent for the fourth year shall be the rent for the first year multiplied by one point eighteen. This cycle shall continue.".