Financial and Lease Terms
It is important to note the prevailing financial terms before one comes to Delhi.
Lease Period: This can vary from two to three years.
Occasionally
one year is also possible.
Rent in Advance: Starting from three months to the whole period of
lease. But most of the deals are concluded on an three months to annual rent paid advance basis.
Room for negotiation is there in few cases.
Security deposit: Tenant pays an interest free, refundable security
deposit varying between one month to six months (most cases it is three months).
This deposit is refunded back to tenant by the owner when the tenant vacates the
premises and hands over the vacant possession to the owner. Owner, at this time
ascertains if there are any damages to his property, any un paid bills and
accordingly he deducts the repair/bill amount from the security deposit and
refunds the balance.
