Stamp duty is a tax similar to that levied by the Tamil Nadu government… Delays in the payment of stamp duty result in penalties. The paid stamp duty instrument/document is considered a proper and proper instrument or legal document and is admitted into evidence before the courts. A proposed lease agreement should be printed on stamp paper of an appropriate stamp value under each state`s stamp law in order to make it valid. To register a rental contract in Chennai, you must purchase stamps of the required value according to the above prices. Gone are the days when you had to buy traditional stamp papers from the notary. Now you can buy stamped papers with any value from some suppliers. The registration of a lease in Chennai is very important to be more secure, as unregistered rental projects cannot be used as evidence in court. If the requested stamp duty is not paid, if disputes arise and the matter is referred to a court, the parties concerned may have to pay almost ten times the actual stamp duty. (1) Unless otherwise stated in the tenancy agreement, the interest rate that the tenant must pay to the landlord on unpaid rent and other fees is eight per cent (8%) per year. Most institutions such as banks, gas distribution, HRA rights, vehicle purchases, school applications, telephone lines, etc., will only take your rental address certificate into account if it is executed on stamp paper. This is an agreement that is followed by landowners to seal leases for only 11 months, in order to avoid registering the agreement with the relevant local authorities. The old leases were only to be registered when the rent was more than 11 months, but now, under the new Rent Control Act, it is imperative to register a lease to make it valid.

As a result, a landlord is required to register the lease only for 11 months. NotaryKart facilitates online documentation of chennai leases by providing customizable templates and arranging the registration and delivery of the document at your front door. 4. The rental authority may, if it deems it appropriate, appoint one or more persons with particular knowledge of the case, taking into account the opinions or the evaluators, in order to advise them in the ongoing proceedings before it. The tenancy agreement is nothing more than an agreement between the landlord and the tenant that defines details such as the duration, the amount of the rent, the conditions and responsibilities of the landlord and the tenant. A rental agreement can save time and trouble for both the landlord and the tenant. In the case of a landlord, the agreement guarantees that the rent is paid on time and that the property is maintained by the tenant, for the tenant, it provides that the landlord does not change the rental conditions according to his will or asks you to evacuate the property. Stamp duty is essentially a form of tax levied on legal documents in order to make it legally binding. In Tamil Nadu, stamp duty paid for leases is generally equal to 1% of the rent/deposit amount, regardless of the duration of the tenancy. 1.

Any rental agreement must be registered with the rental authority. Hello, I have already done the holidays and the license contract for 22 months in a 100rs stamp paper for the living apartment,.. Is there anything more to do? 5. After receiving the application, the rental authority verifies the names, identities and addresses of the parties in the form specified in the first scheme of the law and registers the lease and grants the registration number of the tenancy (“T.R.