Registration.
Querist :
Anonymous
(Querist) 07 May 2011
This query is : Resolved
I have got property in Sindhudurg Dist Maharashtra. I have to give some part of my room on Leave and License basis on nominal compensation of Rs. 1500/- I have prepared Leave and License agreement. I would like to know that Registration is necessary and if it necessary How much I have to pay the registration charges?
Please advise.
Supriya
R.Ramachandran
(Expert) 07 May 2011
Registration is compulsory, only if the lease is for more than a year. If it is less than a year (normally people do it for 11 months as a matter of abundant precaution) then Registration is not at all necessary.
If it is to be registered, then for the purpose of stamp duty, the annual rental value will be taken (in your case Rs. 1500 x 12 = 18000). Applicable stamp duty (you have to check up at your place) will be payable on Rs. 18000/-.
Guest
(Expert) 07 May 2011
Agree with Mr. Ramachandran.
