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Author Topic: Fair rent  (Read 534 times)

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Offline monesh

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Fair rent
« on: June 07, 2015, 05:15:42 AM »
I have rented a 2700 square feet empty ground with two sides of 10 feet compound. In which i have constructed 8 feet above that compound , cement flooring, steel roofing and shutter gate for my company. I have agreed for paying 17000 as rent which is higher than the market value for the period of eleven months as per the landlord request. For the building construction it took 6.5 lakhs for me. we have agreed to keep 3 lakh as the advance remaining 3.5 lakhs deducting from the rent.
We have started a stainless steel manufacturing unit in the building but fortune where not favoring our business as we expected initially.Now 1.5 years over from agreement date after the building constructed. Now he is deducting the rent from the time of constructing the building which means i have to pay rent for constructing his building also. He saying we have to renew the agreement and he  is demanding above 20000 rent which is unacceptable. i have taken loans for the machinery for our company and other personal loans its very hard to pay even 17000 right now. I want to know is there any way out i can pay this 17000 itself.
I want to know about fair rent and how it is calculated . approximately how much i will have to pay if that was implemented.
My source of income is only through this business. i have to pay my loans rent workers salary everything from this business only. Is there any special provision for business people to get away from this torture of rent.

Place :vellore, tamilnadu

Thanks for your valuable time in looking into this.
Awaiting reply



Offline kphk

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Re: Fair rent
« Reply #1 on: June 09, 2015, 05:34:34 AM »
If you want a declaration for paying fair rent, it has to be done through fair rent proceedings in a Rent Control Court. You need not worry as fair rent is always below the rent that you pay. However, unless your agreement is a registered one you will not be able to approach the rent control forum.


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