In case of disagreement in the future, the lease will be one of the priorities of the dispute. However, there are other factors that, if overlooked, can cause bigger problems. Here are a few things you need to keep in mind – Registration under this law is mandatory for rentals/leases. Even if the agreement is entitled « license » or « leave & license », if the terms of the agreement confer a right to the immovable property, such an agreement must be registered in accordance with this law. The « contractual conditions » determine the nature of the agreement, not the « title » attributed to that contract. To register a lease agreement, you must submit the contract correctly printed on electronic papers to the sub-registrar`s office. The registration process takes about a week. With the lease, you must file copies of the following documents: Yes. The lease is treated as a new lease and must therefore be registered with the rental authority in accordance with section 4. 6. Within fifteen days of the date of registration provided for in section 35 of the Indian Stamp Act, 1899 [Amended vide Tamil Nadu Act 31 of 2004], the stamp duty payable on the rental agreement, including a sublease, is set out in the table below: a.
If the rental period is less than thirty years, one rupee is payable for each Rs.100 or part of the amount of rent, fine, premium or advance, if any;b. If the term of the lease/lease is thirty years or more, up to four rupees for each Rs.100 or part of the amount of rent, fine, premium or down payment, if any, payable;c. If the duration of the lease is longer than eighty-nine years, seven rupees shall be payable for each Rs.100 or part of the amount of the rent, fine, premium or advance, if any:provided that, in any case, if a rental agreement is stamped with the value required for a rental agreement and a lease is subsequently performed under this contract, the tax on this lease may not exceed twenty rupees. Yes, all leases are marked in accordance with section 35 of the Indian Stamp Act 1899. In accordance with article 4 of the Act, all leases are made by written agreement. Stamp duty and registration fees remain the same for men, women and common buyers in Tamil Nadu. It may seem like a big effort, but now you can use online rental services. LegalDesk offers ready-to-use online rental agreements certified by a lawyer. You can use it to create an agreement in minutes. The lease is a key document intended to establish a transparent transaction between the lessor and the tenant. Under the Registration Act 1908, an 11-month lease agreement must be registered with the sub-registrar`s office in the respective district. .