Commercial lease
palku
(Querist) 06 June 2014
This query is : Resolved
I am about to rent my office to a company in Ahmedabad and would like to take advice on :
1. Which agreement is better for me as a landlord : Leave & Licence agreement OR a Lease agreement ?
2. Would you suggest to register the agreement OR non-registered agreement is fine ?
3. Registered agreement cost lots of money because of stamp duty.
4. The agreement is for 5 years with 3 years lock in period
5. Any suggestion to get the agreement done? Any good template
Devajyoti Barman
(Expert) 06 June 2014
1. Bot are equally good in its own circumstances.
2. If it is lease then register the agreement.
3.yes
4.you can go this clause.
5.Get it drafter by a lawyer not by a layman.
V R SHROFF
(Expert) 06 June 2014
yes, registration preferred. do thru lawyer. Contact Adv Pathan, Vatva, Ahmedabad
Dr J C Vashista
(Expert) 07 June 2014
Any lease and licence agreement for one year and more has to be registered compulsorily.
Contact and engage either of the lawyers suggested by Sh. V R Shroff.
Rajendra K Goyal
(Expert) 07 June 2014
You should go with the registration of the agreement duly drafted by an advocate best suitable in your case.n
ajay sethi
(Expert) 07 June 2014
dont go for ready made drafts . contact a local lawyer . get agreement drafted by him . have it duly stamped and regd to protect your interests
palku
(Querist) 07 June 2014
Thank you so much for all your reply.
After all response I have received I call a good lawyer and she said go for leave and licence agreement and do not need to register the agreement that is more preferable.
She said you can do it on 100Rs stamp paper
I am totally confused now ????
T. Kalaiselvan, Advocate
(Expert) 11 June 2014
An agreement for lease or L & L, for a period more than one year need to be registered. You can see the provisions of section 17(1)(d) of the registration act, 1908, which reads thus:
(1) The following documents shall be registered, if the property to which they relate is situate in a district in which, and if they have been executed on or after the date on which, Act No. XVI of 1864, or the Indian Registration Act, 1866, or the Indian Registration Act, 1871, or the Indian Registration Act, 1877 or this Act came or comes into force, namely:-
(d) leases of immovable property from year to year, or for any term exceeding one year, or reserving a yearly rent;
So donot be misguided, comply with the legal requirements properly to avoid problems in the future and to secure it.
