Stamp Duty And Registration Charges For Leave And License Agreement In Mumbai

The calculation of stamp duty is usually based on certain information that must be mentioned when registering a property: it is the responsibility of the lessor to ensure the registration of the rental agreement, failing which the owner may have to pay a penalty of Rs 5,000 and face a prison sentence of up to three months. In the event that the leave and license contract is not registered and disputes arise between the lessor and the tenant, the contractual conditions invoked by the tenant are considered to be the real and correct conditions in which the property was given for rent, unless proven otherwise. In Maharashtra, holiday and licensing contracts must be stamped with a flat stamp duty rate of 0.25% of the total rent for the period. If a non-refundable deposit is also paid to the lessor, stamp duty is also levied on these non-refundable deposits. The registration fee for a lease in Maharashtra depends on the location of the rented property. The registration fee is Rs 1,000 if the property is located under a communal territory and it is Rs 500, if it is the same in a rural area. In the absence of an agreement to the contrary, the costs of stamp duty and registration are the responsibility of the tenant. Registration essentially means that you apply a seal of authenticity to the agreement, which means that an unregistered agreement is considered by the courts as ancillary evidence and never as primary evidence. Ideally, the following license terms should never be omitted from your agreement – For technically experienced and super-experienced people, registering your vacation and license document couldn`t be easier. There are online tools that provide document registration and electronic registration services. The Government of Maharashtra…

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