Draft agreement – Both contracting parties must decide the terms of rent, deposit and other conditions. Decide and design the lease accordingly. 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). The terms of the lease must be properly documented. The lease or lease agreement must be established in a certain format, in accordance with certain conventions and laws. Most leases are signed for 11 months, so they can avoid stamp duty and other fees But all these conditions should be mentioned in the agreement. At WITNESS WHEREOF, the landlord/owner and tenant have their hands on this _______an the tenant and tenant agreed to do the same on the rental of Rs. – (in words) per month. Housing.com has launched a fully digital, contactless service to create leases. If you want to complete the formalities quickly and without any problems, you just have to fill out the details, create the online rental contract, sign the contract digitally and get an electronic stamp in seconds.