How to get a lease deed with misrepresentation cancelled. or declared void
4WhatIsRight
(Querist) 25 March 2013
This query is : Resolved
I have purchased a building with 4 flats.
One of the flat had been leased out by the previous owner to one fellow. This has been mentioned in my deed of sale that the said flat has been leased out for 99 plus 99 years for a premium of Rs.7,00,0000/- and a monthly rent of Rs.5,000/-. Registration Fee has been paid on Rs.5,00000/-
The lease deed has apparent lacunae in its description, rights and terms. I do not wish to keep that lease alive and want to have that fellow as any other tenant and not a lessee.
I have also heard that on lease for period of 99 years or more, stamp duty is to be paid on market value (WHICH WAS THEN 20,00000/-)and not on rent or premium.
PLEASE ENLIGHTEN.
Devajyoti Barman
(Expert) 25 March 2013
Stamp duty on 00 years of lease is like that of a sale.
Raj Kumar Makkad
(Expert) 25 March 2013
What ever you have heard is true but you cannot suo-moto cancel the lease deed.
Adv k . mahesh
(Expert) 25 March 2013
yes the amount paid for sale agreement is same for this
