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Planning to take house on lease of 11 lakh how much be stamp duty
23-May-2023 (In Property Law)
Hello Sir, I am planning to take house on lease for 3 years for Rs. 11Lac where i will not pay rent for 3 years and after 3 years owner will return the money without interest. Please suggest what should be Stamp Paper value in rupees and what precautions i should take care.
If you are going for 3 years lease then it has to be registered and you have to pay the stamp duty 1% per lakh and half percent registration fee. Enter into an agreement as per law with clause and conditions which is convenient for both land lord and you then do the above said procedure by contacting lawyer who can assist you better.
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Adv. Rajesh K.S
Bangalore | 500+ Answers
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Hello, that arrangement which you have talked about is called mortgage and not lease. Terms of mortgage should be very clear and it shall be stamped and registered for it to be considered as evidence.
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Adv. Shabaaz Husain
Bangalore | 25+ Answers
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