¹[ For the purposes of this chapter,—

(1) “house property” means any house property, house or building and shall also include the following assets, namely—

(a) furniture, fixtures, fittings which are an integral part of the said house; and

(b) the land on which the said house is erected:

Provided that it shall not include the following house or building, namely:—

i. any building used completely as go-down, or

ii. any factory building which is rented out as an integral part of plant and machineries;

(2) “rent” means the grant of the right to use property for a specified period of time without relinquishing ownership or title, however shall not include, whether owned or not, rent to any other person, by a scheduled bank, investment bank, any development finance company or mudaraba or leasing company;

(3) “property” means house property, land, furniture, fixtures, factory buildings, business premises, machineries, personal vehicles and any other physical assets of capital nature which is rentable.