Sec 8 to 11 (Chapter III Rent)The Jammu and Kashmir (Residential and Commercial Tenancy) Act, 2012.

8. Rent Payable. ––

(1) In case of tenancies entered into on or after the commencement of the Act, rent payable of a rental unit shall be the rent agreed between the landlord and the tenant at the commencement of tenancy.

(2) In case of existing tenancies, at the end of twenty four months from the commencement of the Act, rent payable shall be as per sub-section (1) and––

(a) the landlord shall intimate the tenant two months prior to the expiry of twenty four months from the commencement of the Act about the revision in rent ;

(b) in the absence of an agreement between the landlord and the tenant on the rent payable as per sub-section (1), the landlord will have the option to terminate the tenancy as per section 21 of the Act.

9. Revision of Rent. ––

(1) Revision of rent between the landlord and the tenant shall be as per the terms set in the tenancy agreement.

(2) The landlord shall give a notice in writing to the tenant three months before the revised rent becomes due.

(3) If a tenant who has been given notice of an intended rent increase under sub-section (2) fails to give the landlord notice of termination of tenancy, the tenant shall be deemed to have accepted whatever rent increase has been proposed by the landlord.

(4) In case the rental unit has been let for a fixed term, rent may not be increased during the currency of the tenancy period unless the amount of increase or method of working out the increase is expressly set out in the tenancy agreement.

(5) No tenant shall directly or indirectly sublet or assign, whole or part of the rental unit for a rent that is higher than the rent or the proportionate rent charged by the landlord to the tenant.

(6) Where the landlord, after the commencement of tenancy and with agreement with the tenant has incurred expenditure on account of improvement, addition or structural alteration in the rental unit occupied by the tenant, not being repairs necessary to be carried out under section 15, the landlord may increase the rent of the premises by an amount as agreed between the landlord and the tenant prior to the commencement of the work and such increase in rent will become effective from one month after the completion of work.

(7) Where after the rent of a rental unit has been agreed or fixed, there has been a decrease or diminution or deterioration of accommodation or services in the rental unit, the tenant may claim a reduction in the rent and may approach the Appellate Rent Tribunal for the same in case of a conflict.

(8) The landlord may either restore the rental unit and the connected services as at the commencement of tenancy or agree for a reduction in rent.

10. Rent Controller to fix or revise rent.––

The Rent Controller, on an application by the landlord or tenant may fix or revise, as the case may be, the rent and other charges payable by the tenant as also fix the date from which the revised rent becomes payable.

11. Security Deposit.––

Unless there is an agreement to the contrary, it shall be unlawful to charge a security deposit in excess of three times the monthly rent and the security deposit shall be refunded to the tenant within one month after vacation of the rental unit after making due deduction of any liability of the tenant.