Types Of Rent Agreement In Delhi

It is often a practice among people to create rental contracts on stamp paper with minimum values like Rs.20/-or 50/-or 100/- etc. This saves money on paying the actual stamp duty imposed by the government. The difference between public and minimum royalties is generally very small. As long as there is no dispute between landlord and tenant, it goes well. Let`s take an example: for a rental contract of 1 to 4 years, you have to buy stamps worth 2% of the total annual rent. A deposit of Rs 100 must also be paid. The office business agreement is used by any individual, company or business owner who is willing to take over a property to use as an office in Delhi. It is important to include this clause in the lease. A landlord must notify the tenant in advance before the visit. The Registration Act of 1908 states that among the documents requiring mandatory registration, „rent real estate from year to year or for a period exceeding one year or reserve an annual rent“ as one.

If the duration of your rental agreement exceeds or exceeds 12 months, the registration of the rental deed / lease is mandatory. Ashok is the owner of a 2 bedroom house. He rents it out of Rs` monthly rent….