Under Section 49 of the Registration Act, all leases must be registered with the sub-registry office for a period of 11 months. On the other hand, it is not mandatory to register a rental contract of less than 11 months. Have it testified by Notary Public or have it registered – Now in this case, it is the choice of the two parties who chose the other if they want to confirm the agreement by notary or want to register it at the office of the sub-registrar. If you have the rental contract for more than one year it is recommended to register it in the office of the sub-registrar with stamp duty, because the validity for notary certificate in case of agreement is 1 year. See do not make a vacation rental agreement and license agreement after the 15-day gap as the start date. You don`t have to register the same, only you get the same authenticated notarial. A tenancy agreement is a legal document that binds the owner of the property and the tenant and preserves the interests of both parties. “You don`t have to sign a lease for just 11 months. Renewable/extendable agreements for a period of three to five years can also be concluded and registered. However, stamp duty and registration fees for a longer period of time may vary. In the capital, Delhi, two per cent of the average annual rent must be paid in stamp duty, with the standard fee being Rs 1,100 as a registration fee. Ajay Aggarwal, a resident of Shastri Nagar, recently obtained a tenant for his two-room replacement apartment. Among other things, he informed the new occupant of the apartment that the house was to be evacuated in 11 months, since the lease will expire after.
3) In properly stamped replacement compliance and certified notarized deposit – In Delhi, the usual trend is to collect 2 to 3 months of rent in the form of a deposit. This deposit must be refunded by the landlord to the tenant at the time of the rent evacuation. No interest is paid on the amount of the down payment. It is often common for people to create buffer paper leases with minimum values such as Rs.20/, 50/- or 100/- etc. The goal is to save money on the payment of stamp duty imposed by the government. In general, the difference between public and minimum royalties is very small. As long as there is no dispute between the landlord and the tenant, it goes well. Now let`s take an example: instead of extending the agreement, you can make a new deal to avoid registration. In Delhi, rent and rent are controlled by the Delhi Control Rent Act of 1958. These are the few things to know before renting the property – 1. First of all, there is no such law stipulating that rentals or holidays and licenses can only apply for 11 months if a property is rented for 24 months with a monthly rent of Rs 20,000 for the first 12 months and 22,000 Rs per month for the next 12 months.
The registration fee of this agreement would be: 2% of the average rent for 12 months: Rs5.040, (average monthly rent is Rs21,000, average annual rent is 21000 – 12 and 2% is Rs5,040). For example, if you have made the lease on Rs. 10/e-Stamp paper and you go to the Court of Justice for legal crises, the court can ask for a fine of up to 10 times the amount of stamp duty to be paid. “If the rental period is exceeded by an additional month, to say 12 months, several laws will come into force, which complicates the procedure for both the tenant and the landlord. To avoid such a situation, the duration of the tenancy is maintained at 11 months, regardless of the period for which the lessor intends to rent his property. This contract will be extended at a later date for a further term. In this way, several complications are avoided by both sides,” says Brajesh Mishra, a lawyer at Punjab-Haryana High Court. 14. Please have prepared a new leave and a licensing agreement, stamp it and do not register it free, but optional for up to 11 months. No required loopholes Also known as a rental agreement, the lease is a written contract between the owner of a property (the owner) and the tenant who takes it on the rent.