Under Section 17 of the Indian Registration Act, which applies to all of India, any real estate lease agreement must be registered from year to year or for a period of more than one year. Therefore, unless otherwise required by national law, any leave and licence contract must be registered for a period of 12 months or more. It is the owner`s responsibility to register the lease, otherwise the lessor may have to pay a fine of 5,000 Ds and expect a prison sentence of up to three months. If the leave and licence contract is not registered and there is a dispute between the lessor and the tenant, the contractual terms invoked by the tenant are considered to be the actual and correct conditions under which the property was granted to the tenancy, unless there is evidence to the contrary. It is important to have a lease to deal with disputes that may arise between the landlord and the tenant, for various reasons as One can create the online lease on Housing.com. It is totally stress-free and the rental contract is created immediately by filling in the necessary information. Once the lease is concluded, it is sent to both parties, the landlord and the tenant, to obtain its signature. All this is done seamlessly, sitting comfortably at home and not even leaving houses. In addition to the comfort factor, the online rental agreement offered by Housing.com is very inexpensive. Currently, the ability to create an online lease is available in all major cities of India such as Bangalore, Delhi, Gurgaon, Hyderabad, Chennai, Kolkata, Faridabad and many others. In order to reduce the impact of stamp duty, people paid a substantial amount as an interest-free surety, as well as nominal rent. This gap has been filled and, in cases where a refundable deposit is recovered by the owner, a fictitious annual rate of 10% is set on an interest-free deposit and you must pay stamp duty at the same rate for each year of the term of the licence agreement. 10% x refundable deposit x Number of years of the contract – C Apart from some of the above indications, there are many disagreements of this type that may arise during the tenant`s stay in the property.

To deal with all these disputes in advance, a formal lease, approved by the government, must be concluded. This is documented proof of the contractual terms agreed between the owner and the tenant when renting a property. Section 52 of The Indian Easements Act, 1882, defines vacation and licensing agreements. This section states: “If a person grants another person or a number of other persons the right to do or continue to do, on or on the land of the funder, something that, in the absence of such a right, would be unlawful and such a right does not constitute relief or interest in the property.” TDS provisions relating to rents paid under income tax legislation. To register the contract, you will need some basic documents from the tenant, landlord and witnesses, such as a passport-sized photo. B, a photocopy of proof of identity (for example. B PAN card) and the electricity bill or real estate document such as index II or receipt of taxes from the property that is rented. The stamp duty rate for holiday and licensing contracts is the same for residential buildings and commercial premises.