Rent is the money collected every month from the tenant people who live by paying rent for houses to the house owner for the various facilities1 provided in the house the rent is paid every month and initially a deposit is collected from tenant. Normally 3 months' rent is collected as advance. If any damage is created in the building by the tenant while vacating the house suddenly without any prior notice or intimation to the house owner then monthly rent will be adjusted from the advance amount or any repair work, the advance amount will be utilsed.
For Govt. buildings or officers like PWD housing board, co-operative banks, nationalized bank co - operative store, medical shops, warehouses etc, if any building is taken for rent by a govt. the following procedure is adopted.
Calculate the cost of construction
1. Year of construction
2. Cost of land
3. Guideline value or land
4. Market value of land
5. Locality of building such as panchyat village or town, municipality, corporation etc.
By considering the above factor the Govt. department calculates and fix the rent for buildings for a partition 100 period say 3 years.
The Govt. department will fix the rent and an agreement is signed by the Govt.department and the building one in which the rent per month, advance amount to be paid any inner furnishing arrangements self's partitions or modification, yearly
% addition of rent, the method of payment or clearly return in the agreement. When the agreement period is ended, it will be renewed or cancelled based on the requirement. During renewal, the rent will be revised.
For bank officers govt servants, house rent allowances(HRA) is paid every money based on the location or the place in which they work, For cities, HRA will be more than other areas since the amount of living is more. Normally all the above details of particular building to be taken for rent of submitted to the higher authority. After getting the approval or permission from the concerned authority, the building will be occupied. If any maintenance work is to be required it has to be carries out by the house owner and if any fault in the tenant side, the charges will become by the tenants.
If any electrical appliances like lights switches, fans etc are damaged, it has to be rectified and replaced by the new one by the tenant. The tenant has to hand over the building to the building owner ID the same manner as when be occupies the building for rent housing is Rs.1 lakh 20% subsidy means Rs.20,999 deducted from the loan, only the balance amount Rs.80,000 is to be repaid by the house owner
For group housing for poor people or EWS economically weaker section, weakers, slum people etc., the subsidy is always given by the department. The subsidy is always given for cost effective construction technologies.