A lease term of more than 11 months should be required to be registered in order to make it enforceable under the India Registration Act. In order to avoid these formalities, agreements are concluded for a period of 11 months and are renewed in accordance with the mutual consensus of the parties concerned. 2. The leave and the license agreement are not subject to the right of location.et it is only the authorization (holiday) and the license that you have given for the use of your place for a certain period of time. It must be registered if the warrant is more than 12 months. 1. There is always a risk if you also rent an apartment to a good tenant. A good tenant turns into a bad tenant you never know. 4.
The property tax and major repairs must be borne by you and small reapairs and maintenance and electricity etc. are the responsibility of the licensee, which should be clearly mentioned in the agreement. TDS provisions relating to rents paid under income tax legislation. Yes, you can make the deal during the rental period, but make sure the landlord and tenant are trustworthy. Always make lump sum payments by cheque or net transfer, as there is no immediate agreement. But in a month, try to get the deal. It is very risky to continue the duration without the agreement. So if your landlord refuses to make the contract even after one month, then it is advisable to stop paying the rent and remove it. No no. In India, it is not mandatory to certify an overly notarized lease. The tenant must pay a stamp duty that varies from state to state with registration fees (between 500 and 1,000 Rs) when registering tenancy agreements.
In Uttar Pradesh, stamp duty on the lease is four per cent, while it is 0.25 per cent in Maharashtra. As a general rule, it is somewhere between 1 and 3 months until one of the parties evacuates the premises or is asked to evacuate the premises. This clause must be clearly documented in the lease agreement with a common consensus. 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.