Abe (None) 01 February 2011
Hi ! Are there any new laws/ guidelines for registration of lease rental agreements? Specifically, I have a rental renewal coming up with the validity of agreement for 22 months with renewal at 11 months. I need to know whether I need to execute on a non-judicial stamp paper or a mere letter would do. Moreover, do I need to get this lease registered at the registrar's office.
V. VASUDEVAN (LEGAL COUNSEL) 01 February 2011
The query needs clarification. Is it a lease which was was originally registered with a clause for automatic renewal by mutual agreement or is the lease proposed to be executed. Also in which state the property is situate. Certain states like Maharastra has a compulsory provision for registration of lease/leave and license.
Abe (None) 02 February 2011
The duration of original lease was defined as 22 months with a provision of renewal through mutual consent after 11 months. The lease is due for renewal post 22 months now.
The original lease was not registered. However, we hear it has become mandatory (hence the post). The property being discussed is in Gurgaon.
shrikant chede (law officer) 02 February 2011
Where the property situated? if it is in Maharashtra then registration is compulsory
V. VASUDEVAN (LEGAL COUNSEL) 02 February 2011
Dear Abe,
The option would be get a fresh Lease Deed for the current period of renewal of 11 months and get it registered afresh with the registering authority. The stamp duty payable thus could be only for the current
11 months.
vasudevan
Abe (None) 02 February 2011
Thanks. I am still not clear on specific advantages accrued by registering a lease rental agreement. Would like some preliminary advice on this please.
Moreover, it may be a good practice but is it now a law to get it registered?
DEFENSE ADVOCATE.-firmaction@g (POWER OF DEFENSE IS IMMENSE ) 02 February 2011
If you are tenant need not worry , if landlord take care for terms of the agreement.
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