Rent agreements tenure
Mohammad saifee (Entrepreneur ) (72 Points)
15 June 2015
I want to ask in the experts forum to know thw reason, why rent agreements are executed for 11 months
1 Replies
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 15 June 2015
Because person acquiring a right in a building by virtue of 269UA(f) shall be the deemed owner of the property:
269UA(f): giving property on lease for a term not <12 yrs whether fixed originally or there is a provision for extension and the aggregate period is not less than 12 yrs. It does not cover any right by way of month on month or for a period not exceeding one year.
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