Registration of Lease Deed in Tamil Nadu
Querist :
Anonymous
(Querist) 16 January 2010
This query is : Resolved
If the monthly rent payable is Rs10000 with an increase of 5%each year, and the lease period is 29 years, with an advance paymnent of Rs.1 Lac, how the Stamp Duty is to be calculated for registration with Sub Registrar in Tamil Nadu.What is the Registration Fee payable
A V Vishal
(Expert) 16 January 2010
(e) In the case of leases, the value shall be taken-
(1) at the total rent for the whole term when the lease is for one year or less;
(2) at the average annual rent when the lease is for periods exceeding one year;
(3) at one-fifth of the whole amount of rents payable for the first fifty years when the lease is perpetual. When a fine or premium is paid or is made payable or money is advanced, that amount also should be added to the value. When lessee undertakes to pay assessment, quit-rent, etc., in addition to the rent the said payment should also be added to the rental value. If the rent is payable in kind and its
money value is not specified in the lease,. its value shall be taken to be the highest amount which the stamp borne by the document shall suffice to cover. If the document is exempt from stamp duty, the money value of the produce rent shall be calculated at the current market rates; and
(4) In the case of Kanom deed, fee shall be levied on the total consideration viz., the aggregate of the amount consisting of the advance the premium or the present called "Manusham" in North Malabar and "Avakasam" in South Malabar, the annual rent reserved and the ascertained amount of
compensation, if any, for improvements.
N RAMESH.
(Expert) 17 January 2010
Under Art.35, one percent on the amount of rent, premium, or advance, whichever is higher.
