Jagannadha Rao (Accounts Officer) 22 October 2009

Stamp Papers

Can Anyone clarify about Lease agreement stamp paper:

1. How much value of bond paper used for lease Agreement?

2. After executing the Agreement who will safe custudy of that original agreement?

3. place of Stamp paper can be vary from the leased asset place?

Please help me inthis regard?

Regards,

Jagan

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5 Replies

PJANARDHANA REDDY (ADVOCATE & DIRECTOR) 22 October 2009

GENERALLY RS.100/- IF U WANT TO REGISTER AND THEN BALANCE FEE AS PER THE STATE A ND LEASE AMOUNT.

THE LESEE CAN HAVE OR BOTH CAN HAVE ANOTHER CERTIFICATE COPY

YOUR 3 POINT NOT CLEAR, PLS CLARIFY

Anil Agrawal (Retired) 24 October 2009

Please go to a lawyer or broker.

Jagannadha Rao (Accounts Officer) 24 October 2009

Thank you Mr. Janardhan for your valuable reply,

Actually we are a reputed firm, as per firm concern lease agreement prepared by company for which rented house leased by our company. So, usally we are making lease agreement on Rs. 20/- bond paper and get signed by mutually (i.e leaser- Co., Leasee= house owner) is it correct or not?

regarding my point No.3 in a example of house taken in Bangalore and Stamp paper bought in Chennai is it correct or not?

Please suggest.

Regards,

Jagan

PJANARDHANA REDDY (ADVOCATE & DIRECTOR) 24 October 2009

FIRST QUERY IS OK, THE STAMP PAPER MUST BE IN PLACE OF LAND ONLY, THE STAMP TAX IS FOR K.N GOV AND NOT FOR T.N GOV. ---R U SATISFIED-- ALL THE BEST

Anil Agrawal (Retired) 24 October 2009

You will notice that non-judicial stamp papers carry the name of the State where they are sold. It is printed on the paper. Therefore, stamp papers of other States can't be used in Karnataka or vice versa. It is the revenue that goes to the respective State.

In Maharashtra, under the Rent Control Act, every agreement commonly known as Leave and Licence Agreement is either for 11 months or 22 months or a maximum of 33 months. Stamp duty is to be paid and it must be duly registered. Not only this, the tenant has to inform about his stay and identity to the local police and to the housing society if the property is situated there. Each State has different set of rules and procedure. Please inquire and follow what is applicable in Karnataka.

Basically, they more or less correspond to each other.