Real Estate Chandigarh

Residential and Commercial properties in Chandigarh..

21 November 2006

Administration promises ‘balanced policy’

PROMISING a “balanced policy’’ for the mutual interests of the tenants and the landlords in the city, the Chandigarh Administration today said they would look for an amicable solution for the two parties after the Rent Act notification issued by the Administration was quashed by the Supreme Court on Tuesday.
The Administration, which is forced to do a rethinking on the issue of rent of commercial tenants in the city, however, said the final decision would only be taken “after receiving the copy of the Supreme Court judgement.”

Sources said the Administration may seek legal opinion on the matter before deciding on the future course of action.
While the tenants continue celebrations over the new decision, the landlords said the tenants are not victimised at all and have demanded a review of the policy.
“I have eight buildings on rent in the city and in one of the buildings, which is in fact rented to the state government, the rent, fixed several years ago, continues to be Rs 18,000. Compare it with the rates today! The rent from the same building would not be less than Rs 4 lakh. What is my fault? I am loosing so much money,” rued MPS Chawla, of Industrial Area, Phase II.
The landlords added that around 40 per cent of the landlords in the city are still continuing with the old rent, letting go of the current market rent, especially after the boom in real estate chandigarh.
“With quashing of the notification, all the litigations by the landlords too have met a dead-end,” added another property owner.

Source: //
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