Leave and licence agreement or lease aagreement
VIJAY KUMAR
(Querist) 21 June 2013
This query is : Resolved
In Mumbai I have heard that Leave and Licence Agreements are more in practice than lease agreements. I wanted to know whether this kind of provision is available in the local laws of that place only or this Leave and licence Agreements can be signed in any other state of India and this would be valid in the states or cities other than Mumbai also. Please guide me and clarify the point with reasons also. Thanks.
ajay sethi
(Expert) 22 June 2013
it would be valid in other states too .
VIJAY KUMAR
(Querist) 22 June 2013
Thanks a lot for promptly answering my query. But with all humility I am sorry to revert to my query again, a part of which still remains to be answered, i.e. Is there any specific provisions under the local laws or anywhere in the laws or this document called as 'Leave and Licence' has been invented and framed beyond the provisions of law. Secondly, I would request for an additional query as to whether this agreement is also required to be registered compulsorily and what should be the amount of stamp duty? And whether the period of agreement can be 11 months to avoid the registration ? I can be contacted at M-9899545882.
Raj Kumar Makkad
(Expert) 22 June 2013
The term is mentioned in Transfer of Property Act and it is compulsorily is required to be registered if its term is more than 11 months and rate of stamp duty is enquired to be locally as this is different on the basis of area, quality of property and the agreed rates of license.
ajay sethi
(Expert) 22 June 2013
in maharashtra registration of leave and licnese agreement is compulsory . stamp duty would depend upon provisions of local stamp act and the provisions of agreement as to amount of license fee payable , security deposit taken by licensor
Rajendra K Goyal
(Expert) 22 June 2013
Agreed with the experts. Nothing more to add.
Rajeev Kumar
(Expert) 22 June 2013
Nothing left for further addition.
VIJAY KUMAR
(Querist) 22 June 2013
Thanks a lot with humble gratitude to all the Advisors/Experts i.e S/Shri Ajay Sethi ji, Raj Kumar Makkad ji and Rajendra Kr Goyal ji.
VIJAY KUMAR MAGO.
Under Secretary(Retired as Senior Analyst) Govt of India.
Always available for any service within my capacity and knowledge.
M-9899545882.
Raj Kumar Makkad
(Expert) 28 June 2013
Most welcome from your side Vijay Kumar g.
Raj Kumar Makkad
(Expert) 28 June 2013
Most welcome from your side Vijay Kumar g.
