Giving property on rent for 3 yrs necessity to register the agreement
06-Feb-2023 (In Documentation Law)
Planning to give shop on rent for a term of 3 years. We wanted to know whether the agreement is to be registered or not? What to do? If yes, what is the stamp duty?
The section 17 of Registration Act provises leases of immovable property from year to year, or for any term exceeding one year, or reserving a yearly rent; months requires compulsory Registration.
However a lease agreement of 11 months does not require compulsory Registration.
In my view an unregistered lese argeement of 11 months is legally valid document.
However a lease agreement of 11 months does not require compulsory Registration.
In my view an unregistered lese argeement of 11 months is legally valid document.
Helpful?
24+
yes it is compulsory to register the said document and it would be titled as Leave and License Agreement for a period of 33 months. if the activity is for the commercial purpose the stamp duty depends on the amount of the license fee.
Helpful?
15+
Rent Agreement has to be register before sub registrar office to comiplete legal compliance, because in future if licensee breach terms and condition of agreement , either party can sue against erring parry
Helpful?
16+
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