Renting or leasing commercial space ?

KD (Querist) 04 February 2016 This query is : Resolved
I wish to rent my shop in Udaipur for garment showroom for 9 years. should I ask for lease deed registered or a rent deed. I want the shop to be vacated after 9 years so what is the right option for me. Can I ask the tenant for 10% increase in rent every year and can I incorporate this in the rent note/lease deed.

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Devajyoti Barman (Expert) 04 February 2016
Any lease which is made for a fixed period beyond one year is to be compulsorily registered.

KD (Querist) 04 February 2016
But sir, my query is whether leasing the property is better option vis a vis renting? Because I want the shop to be vacated after 9 years.

Advocate Bhartesh goyal (Expert) 04 February 2016
Mr Barman is absolutely right,ask your tenant to execute lease deed and get the same registered.legally you are entitled to get 5%increased rent every year and accordingly condition may be mentioned in lease deed.

Rajendra K Goyal (Expert) 05 February 2016
Execute registered lease deed.

Raj Kumar Makkad (Expert) 06 February 2016
None of us can tell you what terms should be inserted in the rent/lease agreement to be got executed between the parties. It is upon you to decide. We can only tell the legal implications.

Registration of lease-deed is must if the same is for a period over 11 months. Lease-deed is the best option if you want to get your property vacated after the expiry of 9 years by giving notice to that effect in advance.