(1) The security deposit to be paid by the tenant in advance shall be such as may be agreed upon between the landlord and the tenant in the tenancy agreement, which shall,—
(a) not exceed two months' rent, in case of residential premises; and
(b) not exceed six months' rent, in case of non-residential premises.
(2) The security deposit shall be refunded to the tenant on the date of taking over vacant possession of the premises from the tenant, after making due deduction of any liability of the tenant.
Rights and obligations of successor in case of death.
Restriction on sub-letting.
16 of 1908.
Rent payable.
Revision of rent.
Rent Authority to determine revised rent in case of dispute.
Security deposit.
6 THE GAZETTE OF INDIA EXTRAORDINARY [PART II—
CHAPTER IV RIGHT AND OBLIGATIONS OF LANDLORD AND TENANT
12.The tenancy agreement shall be signed in duplicate by both the landlord and tenant, and each one of such original signed tenancy agreement shall be retained by the landlord and tenant.