Agreement Registration Charges In Mumbai

április 8th, 2021

The formula for calculating stamp duty on the lease is 0.25% x D, of which D (monthly rental x number of months) – (pre-rent for the period/non-refundable down payment) – (10% x refundable deposit x number of years of contract). However, for Maharashtra, the law has been strengthened and, in accordance with section 55 of the Maharashtra Rent Control Act 1999, any lease or leave and licence agreement must be written and the same must be registered in a mandatory manner, regardless of the length of the lease. In Maharashtra, holiday and licensing contracts must be stamped with a flat rate of 0.25 per cent of the total rent for this period. If a non-refundable bond is also paid to the lessor, stamp duty will be levied at the same rate on these non-refundable bonds. The stamp duty rate for holiday and licensing contracts is the same for residential buildings and commercial premises. The leave and licence contract can be executed for up to 60 months. After successfully paying the required fee, the applicant must book an appointment with the sub-registration. Arrival at the sub-registrar with the required printed documents ensures that the successful registration of the applicant`s property is done quickly. The basic framework for stamp duty is defined in the Indian Stamp Act of 1899, which allows states to change the same rules according to their needs.

As a result, the Maharashtra government passed the Bombay Stamp Act in 1958. The payment of stamp duty on leave and licensing agreements are covered by Section 36A of the Bombay Stamp Act of 1958. Section 52 of The Indian Easements Act, 1882, defines leave 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 something on or on the land of the funder who, in the absence of such a right, would be unlawful and such a right does not constitute relief or interest in the property, the right is qualified as a licence.” 10% x Refundable Deposit x Number of Contract Years – C The cost of depositing a lease in Maharashtra depends on the location of the leased property. The registration fee is Rs 1,000 if the property is below an urban corporate area and it is 500 aff. if this is the case in a rural area. In the absence of a contrary agreement, the tenant bears the costs of stamp duty and registration. 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.


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