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Author Topic: Commercial Property Lease Agreement clarifications  (Read 287 times)

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Commercial Property Lease Agreement clarifications
« on: March 31, 2017, 02:45:27 AM »
We have a commercial property in the central business district of dalhousie in Calcutta, on lease basis. There was a lease agreement (termination date not specified in the agreement) with the original owner of the building. Thereafter ownership of the property has changed hands twice. The current owner doesn't want to accept that agreement. there was no provision for increase in monthly rent in the agreement though we have all (tenants) increased rent from time to time.

Can anyone tell me if the lease agreement made 40 years back is still valid ??? Is the current owner bound to honour the agreement today.

The current owner wants to arbritarily increase the rent this time - sometimes he says the rent will go up by 10%, sometimes he says by 25% and very recently he is saying the increase by 100%. He shall not give any notice to the tenants - only verbal communication. in fact in the past also he has not given us any notice in writing about increase in rent. In view of the above circumstances we really do not know what to do. Can we take a legal course ??? We are contemplating to deposit rent with rent control ???
Are we eligible to do that ??

 

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