18 April 2010
FAIR RENT OF THE PROPERTY = Fair rent of the property can be determined on the basis of rent fetched by the similar property in the neighbourhood or in the same or similar locality. though 2 properties cannot be alike in every respect the evidence afforded by transaction of other parties in neighboubood , more or less comparable with the property in question is relevant in arising at reasonable rent
STANDARD RENT ACT = standard rent is the maximum rent which a person can legally recovered from his tenant under a rent control act . the supreme court has observed in a few cases that a landlord cannnot reasonably expect to receive from a hypothetical tenent anything more than the standard rent under hte rent control act . this rule is applicable even if a tenant has lost his right to apply for fixation of the standard rent . this rule is applicable for owner himself
plese explain the above lines with proper examples.............
19 April 2010
FAIR RENT OF THE PROPERTY = building A & B same type and same location and almost same facility, Rent of Building A 5000/- pm then Fare rent for Building B is 5000/- pm
STANDARD RENT ACT = Rate Fixed by Local Authorities ie municipalty etc.
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