Stamp duty on assigment of lease
Abdul Latif
(Querist) 15 March 2013
This query is : Resolved
Dear Sir,
A Lease Agreement was executed in Maharashtra for the property situated in Mumbai for 9 years w.e.f. 01-01-2012. This Lease Agreement was registered on 01-01-2012 by paying proper stamp duty. Under this Agreement, the Lessee is permitted to assign the Lease in favor of any person. Now the Lessee has incorporated a new company and intends to assign the Lease in favor of this incorporated company. What is the provision of the Stamp Duty on Assignment of Lease and Registration of the Assignment Deed in Maharashtra? Do once again Stamp duty have to be paid on Assignment Deed and Do Assignment Deed need to be registered?
Thanks & Regards,
Abdul Latif
Shashikant V. Patil
(Expert) 15 March 2013
Yes it is required registration, it is a kind of sub-lease only, and period for this document not mentioned and stamp duty is calculated on a period of lease or sub-lease. That can be informed by Sub-Registrar for registration.
Raj Kumar Makkad
(Expert) 15 March 2013
If the rights to lessee have been provided to sub-lease the same property even without asking from the the lessor then the due stamp duty has to be paid by sub-lessee as per prevailing rates dependent upon the period of lease and cost of lease.
prabhakar singh
(Expert) 15 March 2013
Yes! right even sublease period would be about 8 years to go,then registration would be required,if rent is not enhanced by sublease some thing less than paid on lease would be payable as 1+ year have already passed.
Writing a sublease is necessary here as sub lessee would be Co. who would need to maintain expenditure a/c in this regard.
