The tenant must pay a stamp duty that varies from state to state, as well as the registration fee (varying between Rs 500-1,000) when registering rental contracts. In Uttar Pradesh, the stamp duty on the lease is four per cent, while it is 0.25 per cent in Maharashtra. Now that you know the difference between a lease and a lease, you`re ready to create the right contract for your needs. Use our lease form or rental agreement template to customize, download and print the right agreement for you in minutes. If the agreement includes a deposit, add more Rs100 and Rs1,100 as a registration fee – bringing the total cost to Rs6,240. This does not apply to fees due to lawyers or other intermediaries for all paperwork. The court decided that if a document is something that governs the rental agreement only for a period of 1 year, but it is a written document and not just an oral agreement, then that particular document must be registered at the under-registration office after payment of stamp duty. Therefore, they become inadmissible before the courts if they are not registered in accordance with Article 49. The information contained in this article is not legal advice and does not replace such advice.
State and federal laws change often and the information in this article may not reflect the laws of your country or the latest legislative changes. For current legal advice, please contact a lawyer. In order to avoid litigation arising from disputes between landlords and tenants, the Supreme Court issued an injunction in Anthony vs. KC Ittoop and Sons that a lessor cannot eject a tenant for at least five years if the tenant has properly paid the rent in accordance with the agreement between the two parties. However, if the landlord wants to use the premises for his personal use, he is free to fire the tenant. Before proceeding, it is important to note that each State has its own rental right, while certain provisions of the central legislation also apply. Registration of the contract becomes mandatory if the rental period is greater than or equal to 12 months. Unlike an 11-month agreement that remains valid despite the lack of registration, a lease for a period of 12 months or more would be null and void if it is not registered.
A lease is a contract between a lessor and a tenant that covers the rental of real estate for long periods, usually a period of 12 months or more. The lease is very specific in detail of the responsibilities of both parties during the lease and contains all the necessary information to ensure that both parties are protected. Maintenance: The agreement must clearly specify who is to pay the monthly maintenance fee. To reduce costs, tenants and lessors sometimes conclude an oral agreement on the lease and avoid the realization of a lease. Sometimes they also document the agreement and set rental conditions, but decide not to save the document.. . . .