Most leases are signed for 11 months so they can avoid stamp duty and other fees. Under the Registration Act of 1908, registration of a lease is mandatory if the tenancy period is more than 12 months. If an agreement is registered, stamp duty and registration tax must be paid. For example, in Delhi, for a lease of up to five years, stamp paper costs 2% of the total annual rent of one year. Add a flat fee of Rs100 if a security deposit is part of the agreement. For a lease of more than 5 years but less than 10 years, it represents 3% of the value of the average annual rent for a year. For 10 years and more, but less than 20 years, it is 6% of the value of the average annual rent of a year. The stamp paper may be in the name of the tenant or landlord. In addition, a flat-rate registration fee of EUR 1,100 million must be paid by the draft application (DD). In the second case, the rent for the first year is 10,000 aff. per month.
The rent for the second year is paid to the tune of 11,000 aff. per month. Finally, the rent for the third and final year is paid to the tune of 12,100 aff. The average of the three years` rent will be the average year`s rent. The average annual rent is therefore 12,100 X 12 Rs. Stamp duty is therefore calculated with a rate of 2% to 1.45,200 Rs, which corresponds to 2,904 Rs plus 100 others for security, bringing the total to 3,004 Rs. To avoid these fees, many landlords and tenants mutually agree not to register the agreements. If you want to register a rental agreement, tenants and landlords can agree to share their costs. Eviction in both cases is a similar procedure and take a similar time off and the registered license contract can be done for 5 years.
2) You can enter into a lease to rent your premises for a period of more than 5 years 2. It must be leave and license agreement, because there are limited rights for the tenant, there are also different types of rental contracts, so specifically holidays and license can be mentioned. The lease agreement is also known as a lease agreement and is a written contract between the owner of a property (the owner) and the tenant who accepts it as a rental. The agreement defines the conditions on which the property is leased, for example.B.: description of the property (address, type and size), monthly rent, deposit, purpose for which the property can be used (residential or commercial building), and duration of the contract. Its terms and conditions can be negotiated, but once signed, it is mandatory for both the lessor and the tenant. It also sets out the conditions under which the agreement can be terminated. A tenancy agreement or lease is an important legal document that should be concluded before a landlord leases property to a tenant. The two agreements are similar, but they are not identical and it is important to understand the differences. You should prepare a leave and a license for 11 months.