Indian Real Estate Forum - www.indianrealestateforum.com - View Single Post

thesaint2 · 26-11-08

Hi,

We recently acquired a property for setting up our office and had a rental agreement for 12 months. We had paid 6 months security deposit for the office we leased and had recieved the key to the office. But two month down the line we had'nt taken physical occupation in the sense we had not moved in there since some interior decortion needs to be done. We had altered thier existing furnishing as per agreement with the landlord. But have not started our work in there. We had just removed the unwanted partitions already in there and have note started any of our work.

But now we want to cancel the new office because the market condition being unstable and dont want to have any additoinal costs the econmy is going from bad to worse.

We had paid a the first months rent of 1.3 lacs and this month, we said we wanted to cancel the rental agreement because of the market conditions.

THe landlord is saying that she will deduct 2 months rent as per the rental agreement and pay us the rest.

We like to know since we have not taken physical possession or have'nt started operations there and we can vacate the premisis in 1 hour, since we actually dont have anything in there, should we pay for the notice period.

Plz help.

26-11-08	#1
thesaint2 New Member Join Date: Nov 2008 Posts: 1 Thanks: 0 Thanked 0 Times in 0 Posts	Notice Period Hi, We recently acquired a property for setting up our office and had a rental agreement for 12 months. We had paid 6 months security deposit for the office we leased and had recieved the key to the office. But two month down the line we had'nt taken physical occupation in the sense we had not moved in there since some interior decortion needs to be done. We had altered thier existing furnishing as per agreement with the landlord. But have not started our work in there. We had just removed the unwanted partitions already in there and have note started any of our work. But now we want to cancel the new office because the market condition being unstable and dont want to have any additoinal costs the econmy is going from bad to worse. We had paid a the first months rent of 1.3 lacs and this month, we said we wanted to cancel the rental agreement because of the market conditions. THe landlord is saying that she will deduct 2 months rent as per the rental agreement and pay us the rest. We like to know since we have not taken physical possession or have'nt started operations there and we can vacate the premisis in 1 hour, since we actually dont have anything in there, should we pay for the notice period. Plz help.