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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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 2 Replies

Sidhhi   09 September 2022

You can't oppose valuation. There must be a exit clause in the lease agreement and the same will apply in the event he sales the apartment.

Dr J C Vashista (Advocate)     11 September 2022

You have started the sentence with the statement that, " I have rented an apartment in Noida....."?

Further you have stated, that, "....The owner wants to do bank valuation of the apartment.......",

Your post is confusing as to whether you are a tenant or landlord.

However, if you are a tenant you have no right to stop the landlord from getting it valued by Bank and / or seek reasons for it.
 


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