Ketan (Finance Consultant) 09 September 2022

Bank valuation of rented property by owner

Dear Sir/Madam,

I have rented an apartment in Noida, UP, just 3 months ago. The owner wants to do bank valuation of the apartment,. When asked for reason, he is saying this is a usual valuation which happens every year. I am suspecting and afraid, that he may be looking to sell the apartment and will force me to vacate once his valuation is done.

Can a Lessee, say No to the valuation to be done by his bank ? What can be the possible reasons for him to do this valuation ?

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Quick Summary

A tenant in Noida is concerned about their landlord requesting a bank valuation of their rented apartment, fearing it might precede a sale and eviction. The advice given is that a tenant generally cannot refuse a bank valuation of the property, nor can they demand reasons for it. If the lease agreement includes an exit clause, it will likely apply if the property is sold.