Rent is the payment made by a tenant to a property owner for the use of land, buildings, or other assets. It is typically paid on a regular basis, such as monthly or yearly, in exchange for the right to occupy or use the property. Rent is common in residential, commercial, and agricultural leasing arrangements.
No land-lord/ owner/ person shall let/ sublet/ rent out any accommodation to any person unless and until he/she has furnished the particulars of the said tenant(s) as per Proforma in Schedule-II to the Officer-in-charge of the Police Station.
Considering the rapid hike of rate of rent in the market, the rent shall be enhanced upto 20% of the present rent after every three years instead of existing 20% after every five years. Enhancement of rent shall be made automatically after expiry of every three years from the date of possession.