Arijit Mallick, Kolkata
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Is there a way get market price for pre-rented apt. building?
Q: We have a pre-rented apartment building in Bhawanipur, however, all the tenants are aged & tenured since grandparents time. The rents collected are laughably low for that area. Would like to sell the whole building if we can get the building's current market value. Is it possible? If not, any way to boost rents to current rate for the existing tenants?

My replies to this discussion
Thank you for your quick responses Rajarshi & Subhajit. I am more keen on selling off the building. Where can I start to find interested buyers?Thank you for your quick responses Rajarshi & Subhajit. I am more keen on selling off the building. Where can I start to find interested buyers?
My comments to replies
Good morning Arijit!!!! The amount of rent payable for a property is agreed between the landlord and tenant at the start of a tenancy. Private landlords must follow certain procedures if they want to raise the rent. The rules are set out in Part 3 of the Residential Tenancies Act 2004 and have recently been amended by the Residential Tenancies (Amendment) Act 2015. These rules only apply to private rented housing, not to social housing.
Thank you for your quick responses Promit & Subhajit. I am more keen on selling off the building. Where can I start to find interested buyers?
6th April 2016

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