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RENT CAN BE INCREASED AS PER TERMS AN CONDITIONS OF THE RENT AGREEMENT. IN RESIDENTIAL PROPERTY IT INCREASES 10% AFTER EVERY 11 MONTHS OR MUTUALLY AGREED UPON BY THE LANDLORD AND THE TENANT. IN COMMERCIAL OR INDUSTRIAL PROPERTY IT IS ALWAYS WRITTEN IN THE AGREEMENT OF RENT DEED. IF THERE IS NO CLAUSE OF INCREASE OF RENT IN AGREEMENT , THE LANDLORD CAN GO TO THE COURT FOR THIS PURPOSE
Answered on August 20, 2011 by Uttam Chand Bansal |
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yes
Answered on August 20, 2011 by Mangesh Deshmukh |
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Escalation in rental agreement depends between licensor and licensee . Usually it can from 0 % to 12 %.
Manas Refer : http://mk.cm/1wX
Answered on August 4, 2011 by Manas Surve |
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It depends on two major aspects, i.e. " Market growth of that specific area" and " Mutual concent of the Leaser and the Lessee". But in general the escalation can be around 8-10%. The escalation is purely related to the demands. If you compare the Growth Rate of Kharghar (Navi Mumbai) and Ville Parle (South-West Mumbai) Navi Mumbai area having a better growth rate than South-West Mumbai. So high escalation in rental is very expected. However Market rentals always do not necessarily follow escalation-rate.
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Whether you are renting an apartment or leasing commercial space, you may hear the 11% PA.
Answered on May 19, 2011 by Saif Ahmad |
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SC has recently published an order for escalation of Rent on a period of 3 years and with 10%, though not sure but found this news last week in TOI.
Answered on May 18, 2011 by Tulika Sharma |
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Rent can be increased only after the end of fixed contract.
But, if the increase of rent included in contract, the same will be accepted.
Rent can be increased on mutual consent,Generally rent can be revised annually.
Answered on May 3, 2011 by Jayapragash |
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Generally rent agreements are for 11 months, so after 11 months one can esclate the rent.
Answered on May 3, 2011 by Raman Deep Singh |
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Generally it is annual act but depends on the tems & coditions scripted into your contract.
Answered on May 3, 2011 by Brijesh Singh |
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after 12 months, mention it on agreement
Answered on May 3, 2011 by Monu Dandotia |
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