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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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