(i) that the landlord is to let to such person the whole or part of the building when completed for the use of such person or any member of his family;
(ii) that the rate of interest on such loan shall not be less than four per cent per annum;
(iii) that such loan shall be repayable by the landlord within a period of ten years from the date of the execution of the agreement or within a period of six months from the date of the termination of the tenancy by the landlord, whichever period expires earlier;
(iv) that the amount of the loan shall be charge on the entire building and the entire interest of the landlord in the land on which such building is erected:
(v) that the landlord shall use the amount of the loan for the purpose of erecting the whole or part, as the case may be, of the residential building and for no other purpose; and
(vi) (a) that the erection of the building shall be completed within a period of two years from the date of the execution of the agreement or if the agreements executed are more than one, from the date of the execution of the first of such agreements:
(b) that if the erection of the building is not completed within the period of two years or within the extended period specified in the proviso to clause (a), the loan shall be repayable forthwith to the person advancing the same with interest at the rate of four per cent per annum.
(a) [except as provided in sub-section (3)]
(b) where any furniture or other article is sold by landlord to the tenant either before or after the creation of tenancy of any premises, the excess of the price received over the reasonable price of the furniture or article, shall be deemed to be a fine or premium or consideration.]
Section 18 • The Bombay Rents, Hotel and Lodging House Rates Control Act, 1947
18. Unlawful charges by landlord.
the-bombay-rents-hotel-and-lodging-house-rates-control-act-1947-sec-18.json
•
Section 18
{
"act_title": "The Bombay Rents, Hotel and Lodging House Rates Control Act, 1947",
"act_slug": "the-bombay-rents-hotel-and-lodging-house-rates-control-act-1947",
"section_label": "Section",
"section": {
"number": "18",
"title": "18. Unlawful charges by landlord.",
"chapter": null,
"content": "(i) that the landlord is to let to such person the whole or part of the building when completed for the use of such person or any member of his family;\n(ii) that the rate of interest on such loan shall not be less than four per cent per annum;\n(iii) that such loan shall be repayable by the landlord within a period of ten years from the date of the execution of the agreement or within a period of six months from the date of the termination of the tenancy by the landlord, whichever period expires earlier;\n(iv) that the amount of the loan shall be charge on the entire building and the entire interest of the landlord in the land on which such building is erected:\n(v) that the landlord shall use the amount of the loan for the purpose of erecting the whole or part, as the case may be, of the residential building and for no other purpose; and\n(vi) (a) that the erection of the building shall be completed within a period of two years from the date of the execution of the agreement or if the agreements executed are more than one, from the date of the execution of the first of such agreements:\n(b) that if the erection of the building is not completed within the period of two years or within the extended period specified in the proviso to clause (a), the loan shall be repayable forthwith to the person advancing the same with interest at the rate of four per cent per annum.\n(a) [except as provided in sub-section (3)]\n(b) where any furniture or other article is sold by landlord to the tenant either before or after the creation of tenancy of any premises, the excess of the price received over the reasonable price of the furniture or article, shall be deemed to be a fine or premium or consideration.]",
"footnote": "",
"is_definition": false,
"sort_order": 18
},
"prev_section": "17",
"next_section": "19"
}