Find all the information you need on fair rent in India from experienced legal professionals in India.
Fair Rent, which has different interpretations in different states, deals with the subject of rent that is fair between a landlord and tenant in a particular state. For example, as per the Tamil Nadu Rent Act, fair rent in residential buildings is fixed at a maximum of a 9% gross return each year on the cost of the building. For commercial buildings, this number is fixed at 12%. There are similar laws enacted in all Indian states, to ensure that landlords cannot get away with exorbitant rates or unnecessary increases in rent from year to year.
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