vicky 22 March 2016

Revision of rent according to prevailing market rate

hello,

I have a shop in rajasthan with good location and given that shop on rent @ 500 pm plus 5% increase every year from the year 2002. But now market rates are high and i can get 15000 pm easily. I have asked my tenant to increase the rent to 15000 but tenant is saying i will pay according to agreement which is increase of 5% every year.

please help me so that i can get rent according to prevailing market rate

Thanks

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2 Replies

saravanan s (legal advisor) 22 March 2016

If he is not agreeing then you can ask him to vacate the premises by giving notice as per the clause relating to termination mentioned in the agreement

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