There are, however, other factors that, if they remain, can cause greater problems. Here are some of the things you need to keep in mind – omitting some important clauses from your rental agreement creates unpleasant legal conflicts in the event of a disagreement between the tenant and the landlord. Even if the two parties know each other, the ideal is to conclude a global agreement to turn your back on you. As a rule, twenty rupees are used for leases for less than 11 months. Over 11 months, the amount of the annual rent plus the deposit is equal to 1% of the total amount is stamp duty. To prepare a lease, start by creating a project after discussing the clauses with your landlord/tenant. There are certain clauses that should never be omitted in a rental agreement, which will be discussed later in the article. If the required stamp duty is not paid, if disputes arise and if the cases are to be brought before the courts, the parties could have to pay almost ten times the actual stamp duty. Most institutions, such as banks, gas distribution, HRA fees, vehicle purchases, school applications, telephone lines, etc., only take into account your proof of rental if it is executed on a stamp document. Registration fee: 1% on the market value of the property for separate shares. Stamp duty: 7% of the market value of the property.

Stamp duty is the royalty levied by the government on various real estate transactions. You have to pay stamp duty if you buy real estate and also if you have a lease. Stamp duty must be paid in accordance with section 3 of the Indian Stamp Act 1899. A rental agreement may take effect retroactively under the terms of the contract. .