For non resident Indians across the globe . . .

10. Renting a flat in Mumbai

Question: Is it possible to rent a flat in Mumbai for three to four months? Answer: I hear it’s a nightmare when it comes to finding the right apartment or house to rent. In Maharashtra there is a property rental lease system called ‘leave and license’. This is a form of lease that is valid usually for eleven months. The person leasing the property usually pays a security deposit of ten months rent to the owner. The security deposit is returned when the premises are vacated.  No interest on the security deposit is paid to the tenants and the interest on the deposit belongs to the landlord. Most landlords prefer to rent their properties to companies rather than individuals. The leave and license system seems to work well in the state of Maharashtra.
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Disclaimer: Information provided is for general knowledge only and should not be deemed to be professional advice. For professional advice kindly consult a professional accountant, immigration advisor or the Indian consulate. Rules and regulations do change from time to time. Please note that in case of any variation between what has been stated on this website and the relevant Act, Rules, Regulations, Policy Statements etc. the latter shall prevail. © Copyright 2006 Nriinformation.com
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Informing  educating and connecting Indians across the globe . . . by Virendar Chand
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For non resident Indians across the globe . . .

10. Renting a flat in Mumbai

Question: Is it possible to rent a flat in Mumbai for three to four months? Answer: I hear it’s a nightmare when it comes to finding the right apartment or house to rent. In Maharashtra there is a property rental lease system called ‘leave and license’. This is a form of lease that is valid usually for eleven months. The person leasing the property usually pays a security deposit of ten months rent to the owner. The security deposit is returned when the premises are vacated.  No interest on the security deposit is paid to the tenants and the interest on the deposit belongs to the landlord. Most landlords prefer to rent their properties to companies rather than individuals. The leave and license system seems to work well in the state of Maharashtra.
N
RI Information
Informing  educating and connecting Indians across the globe by Virendar Chand
Disclaimer: Information provided is for general knowledge only and should not be deemed to be professional advice. For professional advice kindly consult a professional accountant, immigration advisor or the Indian consulate. Rules and regulations do change from time to time. Please note that in case of any variation between what has been stated on this website and the relevant Act, Rules, Regulations, Policy Statements etc. the latter shall prevail. © Copyright 2006 Nriinformation.com
NriInformation Questions &Answers 
Read Disclaimer at bottom of page