Stamp duty

Guest (Querist) 03 May 2013 This query is : Resolved
If a lease-deed is to be executed in Delhi for a period of 15months at a monthly rent of Rs.1,20,000.00,how much stamp duty will be payable?

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Vidhi Joshi (Expert) 03 May 2013
Acedemic Query

Guest (Querist) 04 May 2013
This was not an academic query but a practical problem faced by many.I got the answers from the web site of Lawyers Club India.

prabhakar singh (Expert) 04 May 2013
The main problem experts face answering such
queries is that each state has it's own stamp duty amendment so law is not common.
Secondly often they are amended.Thirdly in our area people are not in habit of visiting lawyers at time they even buy properties. They visit only when they get stuck in a litigation problem.

You should check it in delhi stamp Act.

If not amended then my exercise for you reveals that :LEASE including as under – lease or sublease and any
agreement to let or sublet-
(a) Where by such lease the rent is fixed and no premium is paid or delivered-
(ii) Where the lease purports to be for a term of not less than one year, but not more than five years;
The same duty as Bond (No.15)
for the whole amount payable or deliverable under such lease.

THEN IT WOULD BE 2.05% of 120,000*15=(1800000*2.05%)=18000*2.05=36,900.
Caution:Not aware if any amendment is there.

Raj Kumar Makkad (Expert) 14 May 2013
Better to get exact information from the office of local registrar.

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