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Renting Property

India - Renting Property

Property rentals in two major metro cities viz. Mumbai and Delhi are higher than rest of the cities in India. Rent varies from INR 5,000 to INR 20,000 for a 3-room apartment depending upon the area one wishes to stay.

Indian capital has its own Delhi Rent Act that defines the landlord and the tenant, gives specifications of registration of tenancy agreements, rent payable, standard rent and other charges payable. It also clearly defines the duties of the landlord and the tenant and the recovery of possession under different circumstances.

Prior permission of the Reserve Bank is necessary for a foreigner to lease any immovable property for a period exceeding five years. No such permissions are required for monthly tenancies. Foreign personnel may be accompanies by their families. Domestic servants are available at about INR 2,000 per month. A number of restaurants in each major city serve western food.

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