Stamp duty on lease deed
kamal kumar kapur
(Querist) 09 November 2014
This query is : Resolved
Is a lease deed for rental of an apartment in Gurgaon required to be registered? and if so:
What will be the stamp duty on a lease agreement for 11 months rental of an apartment in Gurgaon at Rs 3 lakhs per month with renewal by mutual agreement at a mutually agreeable rent, and who has to pay the stamp duty, the lessor or the lessee?
Devajyoti Barman
(Expert) 09 November 2014
Lease deed beyond one year better to be registered.
Stamp duty differs from state to state.
Generally the lessee pays the stamp duty unless agreed otherwise.
Sailesh Kumar Shah
(Expert) 09 November 2014
As per provisions of the indian stamp act, in the absence of an agreement to the contrary, the expenses of stamp duty shall be borne by lessee.
In case of lease agreement for 11 month, is not required registration.
Rajendra K Goyal
(Expert) 09 November 2014
Lease for 11 months may not be registered.
Stamp duty can be calculated on the following rates:
@1.5% of one year avg. rent, if below 5 years
@3% of one year avg. rent, if more than 5 but not exceeding 10 years
@3% for consideration equal to twice the amount or value of the avg. annual rent reserved-if more than 10 but not exceeding 20 years
@3% for consideration equal to three times the amount or value of the avg. annual rent reserved-if more than 20 but not exceeding 30 years
@3% for consideration equal to four times the amount or value of the avg. annual rent reserved-if more than 30 but not exceeding 100 years
@3% for consideration equal in the case of lease granted solely for agriculture purposes to 1/10th and in any other case to 1/6th of the whole amount or rent which would be paid in respect of the first 50 years of lease (+2% Municiple duty in urban areas)- if more than 100 years in perpetuity. @1.5% of one year avg. rent, if below 5 years
@3% of one year avg. rent, if more than 5 but not exceeding 10 years
@3% for consideration equal to twice the amount or value of the avg. annual rent reserved-if more than 10 but not exceeding 20 years
@3% for consideration equal to three times the amount or value of the avg. annual rent reserved-if more than 20 but not exceeding 30 years
@3% for consideration equal to four times the amount or value of the avg. annual rent reserved-if more than 30 but not exceeding 100 years
@3% for consideration equal in the case of lease granted solely for agriculture purposes to 1/10th and in any other case to 1/6th of the whole amount or rent which would be paid in respect of the first 50 years of lease (+2% Municiple duty in urban areas)- if more than 100 years in perpetuity.
