Fair market rent

Sir, 1stly you shouldnt make agreement UPTO 11 months or 3 year's,15% hike for every 5years=3% hike every year., rental agt is valid for period specifed with agreed rentals, Legally its difficult to cancel your agt For the sole purpose of Rent Enhancement, You can with mutual consent agree have sittings with bank and speak for enhancement YOU CAN ONLY REQUEST AND BANK IS NOT IN OBLIGATION TO PAY RENT @25/-sft, AS YOU DID NOT MENTION THE STATE COMMENTING FURTHER ON FMV IS DIFFICULT

Sir, 1stly you shouldnt make agreement UPTO 11 months or 3 year's,15% hike for every 5years=3% hike every year., rental agt is valid for period specifed with agreed rentals, Legally its difficult to cancel your agt For the sole purpose of Rent Enhancement, You can with mutual consent agree have sittings with bank and speak for enhancement YOU CAN ONLY REQUEST AND BANK IS NOT IN OBLIGATION TO PAY RENT @25/-sft, AS YOU DID NOT MENTION THE STATE COMMENTING FURTHER ON FMV IS DIFFICULT

@Raja: Since you have already entered with the banker into a registered lease agreement for a period of 15 years with conditions for a hike in the rent @ 15% once in 5 years, your demand for a an increased rent at par with the present market rate is invalid, illegal and violations of terms of agreement.  The bankers will take you to court of law  and you may have to pay the costs and damages to the bank if they sue you. Never indulge in such an issue.  That would be unfair on your part.  The market rate will be increasing manifold but that should not tempt you to get trapped into legal tangles.

you have entered into agreement  fo 15 years with specified rent and fixed hike of rent for every 5 years. and also registered one .no way for u to change the rent to recent market value. it is possible only at the option of tenant. but no tenant  in the universe will do it.