My flat rent is Rs 2000 and security deposit is Rs 10Lakhs. I have mentioned the mode of payment as check and cheque details for 10L(as it is huge amount) at the time of making the lease agreement in Oct 2015.
Now we agreed to renew my 11 months Lease agreement with the same terms and conditions now.
1. Owner is asking to type all the content in a new 500 stamp paper as same as old agreement content just modifying the dates. Is it right approach
2. What I need to mention the payment details (mode of payment) for the security deposit as here we are not exchanging any money physically.
Pls suggest for above 2 queries and any suggestions and precautions I need to take at the time of renewing this Lease agreement.
Your valuable answers and suggestions are highly appreciated.
Regards,
Basha
