I really appreciate the input guyz. I got encouraged from the responses on here, and decided to call RERA to inquire about the new regulations, and whether they allowed my landlord to haphazardly up my rent.
Boy wasn't i pleasantly surprised, they told me not to accept any increment from my landlord, since from the info i was giving them, with regards to when i moved into the property and how much i was paying for it, i fell under the nil increment category. They advised me to be firm and if my LL gave me any trouble i should just call them up and they will deal with my case.
I emailed my LL and told him that i was rejecting the new contract with the 10pcnt increment, citing the advise from RERA as my reason.
I'm happy to say that i just received a new contract with exactly the same rent as last years! woo hoo!
@Beady eye, your info on the new regs. is spot on, thanks for posting.
If anyone has doubts about what their new rent should be, my advice to you is call RERA, they will be in a position to assist.