Registration Charges Leave And License Agreement Mumbai

Under Maharashtra`s Rent Control Act, 1999, a leave and licensing agreement between a licensee and a licensee must be written and registered in accordance with the 1908 Registration Act. This means that this rule applies throughout Maharashtra and not just in Mumbai. For technically experienced and super-busy people, it couldn`t be easier to save your vacation and your license document. There are tools available online that offer document production and electronic recording services. The Maharashtra Govt. many have taken an initiative to simplify the whole process, and that is why e-registration has become so popular. Here`s what you need to know about e-registration your vacation and licensing document – Maharashtra owners and tenants have always been entangled in the horns of a dilemma when it comes to licensing and leave agreement. The Agreement is required to be registered in accordance with Section 55 (1) of the Maharashtra Rent Control Act 1999. In paragraph 55, paragraph 2, this responsibility is clearly delegated to the lessor. In addition, Section 55 provides, in the absence of a registered written agreement, for the dispute between the tenant and the conditions under which the premises were either placed on leave and licensed or even leased.

According to Section 55 (1), it is clear that only the lease or leave agreement and a licence executed between the lessor and the tenant or licensee must be registered. The formula for calculating stamp duty on the lease is 0.25% x D, of which D (monthly rental x number of months) – (pre-rent for the period/non-refundable down payment) – (10% x refundable deposit x number of years of contract). However, for Maharashtra, the law has been strengthened and, in accordance with section 55 of the Maharashtra Rent Control Act 1999, any lease or leave and licence agreement must be written and the same must be registered in a mandatory manner, regardless of the length of the lease. If you know nothing about the do`s and don`ts of creating such an agreement, you can try our prefabricated, verified avocado, leave and licensing model that can be tailored to your needs! Registration essentially means that you apply a seal of authenticity to the agreement, which means that an unregistered agreement is considered only as incidental by the courts and never as primary evidence. Leave and license agreement is, whether for one (1) month or for eleven (11) months, is considered 12 months, whether it is 50 sq or more, whether it is housing – trade or industry, it is the same calculation for stamp duty and for registration fees, it is different (for Urban or Rural). Saving a few dollars when you make a lease may be a good deal. However, we all know how much materialism is moh maaya. Take a closer look at the registration of the leave and licensing agreement. Although at first it is a bit of a pricey side, it is also a promise of security of the conditions of renting the state to its citizens.

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. In the absence of a contrary agreement, the tenant bears the costs of stamp duty and registration. If you have your leave and license contract registered by a lawyer in Mumbai, it could cost between 3,000 and 7,000 INR, including legal fees. If you want to do it yourself, the INR fee would be 1,000 if your property falls under The Municipal Company and INR 500 if your property is in a rural area.

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