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‘Rent’ is used as a part of the product which is paid to the owner of land for the use of his goods and services. Thus rent refers only to make payments for factors of production which are in imperfectly elastic supply. For instance, it is the price paid for the use of land.
The Maharashtra Rent Control Act,1999 is to unify, consolidate and amend the law relating to the control of rent and repairs of certain premises and of eviction and for encouraging the construction of new houses by assuring a fair return on the investment by landlords and to provide for the matters connected with the purposes aforesaid.