Apni Law Staff asked 2 years ago
My landlord, back in 2013, signed an agreement for a 10% yearly rent increase. But now, without any discussion, he’s sent a lawyer’s notice demanding a new rent of Rs.10,500 for my 150 sq. ft. first-floor space. This was previously Rs. 3,690. My electrical switchboard cutting business has been severely impacted, operating at only 25% capacity due to the real estate slowdown.
Best Answer
Apni Law Staff answered 2 years ago
The rent increase agreement from 2013 is legally binding and can be used as evidence. However, the landlord’s claim for a significant rent hike (over 185%) may be deemed unreasonable, especially considering the impact of the real estate slowdown on your business. You should consult a lawyer to understand your rights and negotiate a more reasonable rent increase.
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