Increasing of rent
ajay kumar
(Querist) 07 July 2013
This query is : Resolved
Sir, Can owner of a house increase 10% rent every year as per Punjab rent act. and after how many years owner can increase rent
ajay sethi
(Expert) 07 July 2013
read the provisions of punjab rent act
prabhakar singh
(Expert) 07 July 2013
Better consult a local lawyer practicing rent control matters as unless you provide me a copy of ACT i can not guide you.
Rajendra K Goyal
(Expert) 07 July 2013
I quote few lines of Indian Express (Chandigarh, Tue Mar 26 2013 - downloaded from net) about amended Punjab Rent Control Act which may be relevant in this context:
Another amendment gives an option to those who have newly constructed properties not to follow the act for the next fifteen years only after which it would become binding on everyone across the board.
While this renders the 1995 Act useless for those landlords who are already stuck with low rents, it is expected to make some difference to tenancy laws. The Act lays down that the rent can be increased by 5 per cent of the last rent for the past five years and the third year the increase shall be based on the increase in consumer price index over the corresponding three years. It also provides for the appointment of a rent authority at the district level to regulate the landlord tenant relationships.
ajay kumar
(Querist) 07 July 2013
Thanx Mr. Rajendra K Goyal g
Raj Kumar Makkad
(Expert) 07 July 2013
In practical aspect, the rent is increased by 10% every year in Punjab & Haryana in residential rented properties.
ajay kumar
(Querist) 08 July 2013
not in practical aspect, whether it is under the lawful provision or not
Raj Kumar Makkad
(Expert) 10 July 2013
lawful provision is to increas rent every five years as per inflation rate and prevailing rates of rent.
