The lease must include the names and addresses of the landlord and tenant, the terms of the lease, the rental period, the rent and the amount of the deposit, the restrictions imposed on both parties, the conditions for terminating the contract, the conditions for renewal and details of who should bear other costs such as maintenance costs, repairs, etc. Deposit – In Delhi, the usual trend is to collect 2-3 months` rent on deposit. This deposit is to be reimbursed by the owner to the tenant at the time of eviction of the premises by the tenant. No interest will be paid on the amount of the deposit. Delhi has switched from conventional stamp papers to the electronic stamp system of the Stock Holding Corporation of India Limited (SHCIL). Contract electronic stamp papers can be purchased from e-stamp suppliers and the draft can then be printed on these papers. Please note that notarized rental agreements are not identical to registered documents. In the event of a dispute between the landlord and the tenant, the court will not allow a notarized agreement as evidence. Therefore, it is important that the lease is properly registered. According to article 49 of the Registration Act, all leases with a term of eleven months must be registered with the Office of the Sub-Registrar. On the other hand, it is not mandatory to register a rental contract with a duration of less than 11 months. An unregant rental apartment is never evidence in court. This is only collateral evidence and cannot be used to prove one`s own claims.
Therefore, registering the rental agreement is very important to be on the safe side. This is an obvious question that can come to mind when it comes to registering a lease online. In fact, you first need to know if the state you live in allows it or not. In fact, there are only a few states in India that allow online registration of leases. As the document was not registered, it could never be used as evidence and for lack of evidence, Amit had to lose the battle. For leases between 5 and 10 years, stamps worth 5% of the total annual rent must be purchased. For a rental period of 10 to 20 years, 5% of twice the annual rental value must be paid. Stamp Duty – This is the tax paid to the government when an agreement or transaction is created. Stamp duty is calculated on the basis of the transaction value. It is paid to the government by purchasing stamp paper of reasonable value. .