UCLBS News

April 8, 2021

Agreement Registration Fees

Filed under: Uncategorized — Administrator @ 12:43 am

5 Agreement (a) if it is the sale of real estate (b)if it is an agreement that gives power to a project developer or developer, under any name, for the construction or sale or sale (somehow) of a property – (i) if the market value of the property does not exceed thirty lakh rupees; (ii) when the market value of real estate exceeds thirty lakh, but does not exceed sixty lakhs; (iii) when the market value of the building exceeds the rupees of sixty lakhs, but no more than one crore; (iv) where the market value of the buildings is greater than a crore but does not exceed one and a half crore; (v) if the market value of the building exceeds the rupees by one and a half times, the three rupees crore, but not; (vi) when the market value of the building exceeds three rupees; (There are other clauses as well) 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. In order to reduce the impact of stamp duty, people paid a substantial amount as an interest-free surety, as well as nominal rent. This gap has been filled and, in cases where a refundable deposit is recovered by the owner, a fictitious annual rate of 10% is set on an interest-free deposit and you must pay stamp duty at the same rate for each year of the term of the licence agreement. 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. Section 52 of The Indian Easements Act, 1882, defines vacation 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, on or on the land of the funder, something that, in the absence of such a right, would be unlawful and such a right does not constitute relief or interest in the property.” If you. B enter into a leave and licence contract for 24 months, with a monthly rent of Rs 25,000 and a refundable deposit of five Lakhs, you must pay a stamp duty of Rs 1,750 (with 0.25% on the rental of Rs six Lakhs for two years and Rs a Lakh for two years).

TrackBack URI

Theme: Rubric. Get a free blog at WordPress.com