Registration of documents that are not required for an 11-month agreement. So you can continue with an 11-month lease. There is no need to gt-register-lease-lease up to 11 months. Make a renewed agreement with the same conditions – rent review and receive notarized certification. No stamp duty. Better make new agreements and notoriously. Amit rented his apartment in Vikas for rent. He made the agreement on the stamp paper of value. But he did not record it in the lower house. The agreement was signed by both parties. For the first 4 months, Vikas paid the rent correctly. the rent was set at Rs 5000. After four months, Vikas ended the rent payment.
Amit went to the Court of Justice. Although his consent was duly paid, the court refused to accept the act as evidence. Vikas claimed that the rent was only 1500, not 3,500/, as Amit claimed. He also refused to sign the deed and totally denied entering into an agreement with the owner. As the document was not recorded, it could never be used as evidence and, for lack of evidence, Amit lost the fight. Thus, to avoid the payment of 2,500 Rs. stamp duty at the time of registration of the contract, the landlord-tenant duo resorts to the signing of a lease for a period of one month less than one year. In this way, they sign the agreement and record it out of 100. stamp papers. 2) There is no harm in giving a 15-day gap in a new data contract that, with Makaan.com, show that 21 percent of all homeowners who have listed their properties for rent on the site expect their tenants to stay at least a year.
Why then are leases only signed for 11 months, one month less than one year? Caution – In Delhi, the usual trend is to collect 2 to 3 months` 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. If you have ever rented a property or lived in a rented house, you must have signed a rental agreement. Have you ever wondered why most leases are valid for 11 months? Often, neither landlords nor tenants nor even real estate agents know why. Let`s see. Not exempt, but optional for up to 11 months. There is no necessary gap Case II: there may be another situation where the signed agreement will last three years, and the rent will increase by 10% per year. In this case, the „average” annual rent of three years is the annual rent for the second year, since stamp duty is calculated on the average annual rent and not on the annual rent of the first year. A new agreement must be concluded and certified notarized.
The notary will do the same. As I said, the 11-month lease is not mandatory and there is no stamp duty to pay for this type of agreement. In Uttar Pradesh, for example, stamp duty on leases is four per cent of the annual rent plus the deposit, while the registration fee is two per cent of the deposit. Most leases are signed for 11 months, which allows them to avoid stamp duty and other fees Most housing leases usually take place after 11 months. This is only to circumvent the payment of a higher stamp duty. If the term of a lease is one year or more, the contract must be registered with the court and a higher stamp duty must be paid.