Standard rent in house property

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Standard rent in house property:

Standard rent: The  standard rent is determined under the Rent Control Act. If the standard rent has been fixed for any property under the rent Control Act, the property owner cannot charge a rent higher than the standard fixed rent. Gross Annual Value (GAV): This is the highest of: Rent received.


What is standard rent value?

Rental value is the fair market value of property while rented out in a lease. More generally, it may be the consideration paid under the lease for the right occupy, or the royalties or return received by a lessor (landlord) under a license to real property.


Who decides standard rent?

The rent as decided by the landboard and tenant at the beginning of the tenancy either by negotiations or by bargaing is known as contractual rent. Standard rent is the rent, which would be permissible under the law to be charged to a tenant.


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