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INCREASE IN LEASE RENT EVERY 10 YEARS
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string(610) "Friends,
Attached is the snap shot from the Registered lease deed for LB.
One of the clauses say the following statement which I am not able to comprehend.
[U][B]The lease rent shall be enhanced by 50% after every 10 years i.e; 1.5 times of the prevailing premium lease rent.[/B][/U]
I guess, the clauses for all lands alloted by NOIDA Authority to various builder shall be same with LITTLE or NO difference. So following question is valid for all lands.
Does this clause mean that buyer has to shell out extra money every TEN years apart from the current lease rent being charged by builder."
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Attached is the snap shot from the Registered lease deed for LB.
One of the clauses say the following statement which I am not able to comprehend.
The lease rent shall be enhanced by 50% after every 10 years i.e; 1.5 times of the prevailing premium lease rent.
I guess, the clauses for all lands alloted by NOIDA Authority to various builder shall be same with LITTLE or NO difference. So following question is valid for all lands.
Does this clause mean that buyer has to shell out extra money every TEN years apart from the current lease rent being charged by builder.
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