Residential construction means construction on single-family or two-family dwellings occupied or used, or intended to be occupied or used, primarily for residential purposes, and includes real property pursuant to chapter 499B.
As is where is basis means License of the said commercial advertisement space including all equipment, installations, fittings and fixtures is given on ‘as is where is basis’. The Licensee may make additions or alterations in the licensed space, carry out various installations including electric installations and wiring, with the prior permission of DMRC in writing at its own cost. Licensee shall not be entitled for any compensation with regard to additions carried out by them in the licensed Commercial spaces. Licensee shall be required to hand over the Licensed Space at the end of license period.
Original construction means the first or initial construction
Multiple-family dwelling means a property containing 5 or more residential units, including those which are occupied seasonally.
Contribution in aid of construction, as used in this subrule, means a nonrefundable cash payment grossed-up for the income tax effect of such revenue covering the costs of a distribution main extension or service line that are in excess of costs paid by the utility. The amount of tax shall be reduced by the present value of the tax benefits to be obtained by depreciating the property in determining the tax liability.