The formula for calculating stamp duty on the lease is 0.25% x D, of which D (monthly rental x number of months) – (pre-rent for the period/non-refundable down payment) – (10% x refundable deposit x number of years of contract). Most leases do not fall under the category of a lease agreement, but the licensing agreement. This is why a tenant must check what a holiday and licensing contract is. The registration fee for a rental contract in Maharashtra, depends on the location of the rental. The registration fee is Rs 1,000 if the property is below an urban corporate area and it is 500 aff. if this is the case in a rural area. In the absence of a contrary agreement, the tenant bears the costs of stamp duty and registration. To register the contract, you will need some basic documents from the tenant, landlord and witnesses, such as a passport-sized photo. B, a photocopy of proof of identity (for example.
B PAN card) and the electricity bill or real estate document such as index II or receipt of taxes from the property that is rented. The main concern of a landlord is that the property can be adapted to a crazy tenant or that it can be inhabited illegally. That is why the lease should be registered. Until a lease is registered at the shelter, it has no validity. It is in favour of both parties to draw up an agreement with certain conditions and to register it. After the lease is written, the owner should print it on stamp paper. As soon as the tenant and landlord sign the documents in the presence of two witnesses, they must report them to the sub-registry service after payment of the necessary fees. It is important to have a lease to deal with disputes that may arise between the landlord and the tenant for various reasons, such as in some countries where the electronic stamp establishment is available for leases, you do not need to physically purchase stamp paper.
You can register on the website of the Holding Company of India (SHCIL) and verify that the state in which you reside offers this establishment. Currently, Assam, Gujarat, Himachal Pradesh, Karnataka, Maharashtra, NCR Delhi, Tamil Nadu, Uttarakhand and Uttar Pradesh allow electronic signing of leases. Visitors: The agreement must contain a clause on who can visit you and when.