Dear Sir,
We bought a property(commercial complex) in the year 2000 in my native and we had fixed the rent as Rs.600 during that time for each and every stores and once in two years we used to raise the rent by around 100 or 200 during that time, now for the past 4 years we didnt raise the rent and as of today rent for each shop is Rs.1000, we plan to raise the rent this year and as it is very very low when compare to the near by shops who are charging 6000 for their shop, we plan to increase the rent from 1000 to 3000 since for the past 4 years it was the same, but the tenants are strongly opposing for that so we planned to keep a rent of Rs.2000, so but the lawyer who is staying in the first floor of my building is not ready to give the updated rent(eg:1500 to 2500) he said like as per law you can increase only 10% of the rent so i can you give only 1650 as the new rent and he is not ready to vocate the room as he is there for past 15 years, please advise me on this issue.
Note: We plan to raise the rent from now onwards once in a year and can we raise it by minimum of Rs.500 to maximum of Rs.1000.
If i want to send any legal notice what and all the documents i have to make it ready from my end.
If they go against us for court for the increase in rent what and all i have to do from my end.
Please advise me on all the above so that i can proceed further.
Thanks in advance
Vijay
