Legal Question in Landlord & Tenant Law in India
ihave leased a property to nationalised bank, registered deedin 1997, thier term ends in 2007, there a unilatrel clause in deed saying to reneiw for further periods of 2 terms of five years at a hike of 20%, for which I have sent a notice of termination, they have filed a suit of specific performance , I need my premises for my own use,the bank ius keen because there is only a 20% hike to the previous rent of 3.80/ sq feet, current market price Rs 25/,
kindly advise.
2 Answers from Attorneys
bank can enforce the clause of 20% and renewal by specific performance. You will have to see some other breach of lease agreement to terminate the lease. your own use cannot dominate the terms of the agreement.
The Bank can enforce for the same. But in order to advise you in a better manner I'll suggest you to provide with a copy of the agreement so that you may be advised in a better manner
FOR FURTHER DISCUSSIONS IF ANY YOU CAN CONTACT ON 9415109404 OR ON [email protected]
DEVANSH BHARDWAJ
ADVOCATE
LUCKNOW
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