Sub-letting a pagdi property

I'm a tenant of a Pagdi Property in Mumbai which I have sub-let. Please suggest what will be the tax treatment of the rent I received from this property? Can I consider myself to be the "deemed owner" of the Property and accordingly treat the rental income under "Income from House Property"? For those who are not familiar with the Pagdi System prevalent in Mumbai: In Mumbai, landlords invented the Pagdi system whereby cash was used as an inducement for the tenants to vacate the premises. The new tenant would pay a Pagdi equalling a substantial percentage of the market value (85 to 90%) of the premises. This was divided between the old tenant and landlord mostly in the ratio of 65:35 landlord to tenant. In this manner, the landlord could make some money off his asset and also avoid paying taxes. The old tenant benefited, the new tenant rented a premises with low rent but by paying the Pagdi.