Uttar Pradesh: Annual Rent Increase On Residential Properties To Become 5% As Govt Looks To Bring New Tenancy Laws

Uttar Pradesh will soon have new norms for tenancy as the Yogi Adityanath government is planning to introduce new laws for the same. Under this, the annual rent increase will come down to 5% as opposed to the existing 10%. Read on.

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Lucknow: Uttar Pradesh may soon have new norms for tenancy as the Yogi Adityanath government is planning to introduce new laws for it with the aim to support both the tenants and the property owners.  The disputes between landlords and tenants are expected to be resolved largely while the government is able to ascertain the number of people giving houses on rent. The government spokesman informed that the Housing Department has issued a draft of the Uttar Pradesh Urban Complexes Renting Regulations Ordinance-2020. The general public has also been welcomed to provide suggestions for a new tenancy law till December 20 on the Awas Bandhu website. "The law has been drafted under the supervision of Yogi Adityanath and has received in-principle approval. With the implementation of the tenancy law, the government will also constitute a rent authority in the state," the spokesman said. According to the officials, the norm of increasing the annual rent has been included in the draft. While currently, the owner increases 10 percent rent every year when the law is enforced five percent annual rent will be increased on residential properties and seven percent on non-residential properties. The law will also make it mandatory for the tenant to take care of the living place. In case of damages to the rented property, the tenant will be held responsible. Additionally under the provision, the landlord will be able to ask the tenants to vacate the property if they are unable to pay the rent for two months. Also, no landlord will be able to have tenants in the state without an agreement and they will have to inform the details of the tenant to the rent authority. Landlords have to give a written contract letter to the renting authority within three months with respect to the tenancy as the motive for this is security. (With agency inputs) WATCH | Top 25 news of the day in fatafat style