Therefore, a tenancy agreement is the documentation of contractual terms agreed by the landlord and tenant. This is why it acts as evidence when a dispute arises between the landlord and the tenant over the property. Today, the majority of companies in Delhi and Noida require a lease. Most residential leases expire after an 11-month period. This is only to circumvent the payment of a higher stamp duty. If the term of a lease is one year or more, the contract must be registered with the court and a higher stamp duty must be paid. In accordance with Section 17 of the 1908 Registration Act, leases of more than one year must be registered with local authorities. Both parties pay stamp duty and registration fees. As a general rule, the tenant must pay the additional rental fee. In an order revealing the myth of the validity of the 11-month contract, the court stated: “The law must register leases and, therefore, such unregistered leases cannot be received as evidence of a transaction concerning the property.” We help you establish a valid lease. All you need to do is register on our website, search for rental agreements and fill out the necessary details. And go for it! You have a lease.
Not only that, our services are also sufficient to offer a plethora of legal documents tailored to your needs. Our site is easy to use, comfortable and will certainly prove very effective and effective. So stop waiting in your law firm and look for LegalDesk.com! If a property is rented for 24 months with a monthly rent of Rs20,000 for the first 12 months and 22,000 Rs. per month for the next 12 months. The registration fee of this agreement would be: 2% of the average rent for 12 months: Rs5.040, (average monthly rent is Rs21,000, average annual rent is 21000 – 12 and 2% is Rs5,040).