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Renting out 5 million INR flat in India for 1 year with contract details?

Answered as per Hanafi Fiqh by Muftisays.com
We own a flat in India with a market value of 5 Million Indian Rupees(INR). Are we allowed to rent it out to a tenant for a period of 1 year with the following contract –
1. Rent INR 10000 per month
2. Parking & Maintenance INR 2000 per month
3. Refundable security deposit INR 1 Million.

Answer

Bismillah

Al-jawab billahi at-taufeeq (the answer with Allah’s guidance)

There should be no problem in this contract, as long as there are no interest-based dealings involved i.e. in paying the rent, refunding the security deposit with interest to the tenant at the end of the tenancy etc.

And Only Allah Knows Best.

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Moulana Qamruz Zaman
London, UK
Original Source Link

This answer was collected from MuftiSays.com, based in London (UK). It is one of the fruits of Darul Uloom London. Many ‘ulama are involved in answering the Q&A on the site, including: Shaikul Hadeeth Mufti Umar Farooq Sahib, Mufti Saifur Rahman Sahib, Mufti Abdullah Patel Sahib, Maulana Qamruz Zaman Sahib, Mufti Abu Bakr Karolia Sahib.

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