Increment in Rent
1 year ago
As a owner what are my rights to increase rent in pagdi system.
Which Rent control act is applicable in pagdi system in uttar pradesh for commercial property
A.Dear client,
According to Section 56 of the Rent Control Act, 1999, this consideration paid to the landlord as a fine, premium, or consideration (Pagdi) was legalized. The act provides authorization for a tenant to receive any amount in consideration to relinquish or transfer of his/her tenancy rights.
In the case of residential property, a landlord can only raise rent by 5% a year, but in the case of commercial property, he can raise rent by up to 7%.
In present scenario Uttar Pradesh Regulation Of Urban Tenancy Ordinance, 2021 is there in UP. It came into effect on January 11 2021.Earlier tenancy disputes were addressed under the Uttar Pradesh land Regulation Act, 1972.
According to Section 56 of the Rent Control Act, 1999, this consideration paid to the landlord as a fine, premium, or consideration (Pagdi) was legalized. The act provides authorization for a tenant to receive any amount in consideration to relinquish or transfer of his/her tenancy rights.
In the case of residential property, a landlord can only raise rent by 5% a year, but in the case of commercial property, he can raise rent by up to 7%.
In present scenario Uttar Pradesh Regulation Of Urban Tenancy Ordinance, 2021 is there in UP. It came into effect on January 11 2021.Earlier tenancy disputes were addressed under the Uttar Pradesh land Regulation Act, 1972.
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