Stamp Duty And Registration Charges For Rent Agreement In Mumbai

Noc police is not necessary if you rent the property on vacation and in license agreement, but it is mandatory to send the verification form with the details of the owner/licensee, tenant/licensee and real estate agent to the local police station, as well as a copy of the registered document. Policy verification form to download Click here The formula for calculating the stamp duty on the rental contract is 0.25% x D, D being (monthly rent x number of months) + (early rental for the period / non-refundable deposit) + (10% x refundable deposit x number of years of the contract). However, for Maharashtra, the law has been made stricter and, in accordance with the provisions of section 55 of the Maharashtra Rent Control Act, 1999, any lease or leave and licence agreement must be in writing and it must also be registered compulsorily, regardless of the duration of the tenancy. The stamp duty rate for holiday and licence contracts is the same for residential premises and for commercial premises. The leave and licence contract may be concluded for a maximum period of 60 months. In accordance with Section 17 of the Indian Registration Act, which applies to the whole of India, any real estate lease agreement must be registered from year to year or for a period exceeding one year. Therefore, unless otherwise provided by state law, each leave and license agreement must be registered for a period of 12 months or more. Each state in India has its own unique scale for levying stamp taxes, and we have made the computer available to our users so that they can calculate the holiday stamp duty and license agreement for Maharashtra State. After successfully paying the necessary fee, the applicant must book an appointment with the Sub-Registrar.