Rental Agreement is a Agreement between the two parties Owner and Tenant in which they mutually agrees for the Rental of the Property.
People usually get confused about the Registration process for Rental Agreement. Today I am writing this article to give you all the clear view about the Rental Agreement.
Rental Agreement can be registered in two ways:
- By Notary Public- Owner and Tenant can register their agreement from Notary Public by making the Agreement on Non Judicial e-Stamp Paper of Rs. 50/- (Rs. 50/- is the stamp duty for Delhi state, each state have different stamp duty).
- By Sub-Registrar- Owner and Tenant can register their agreement from Sub-Registrar by paying the stamp duty. The stamp duty is as follow- Stamp Duty up to 5 years is @ 2%, from 5-9 years 3% and above 9 years 6%. Registration fee is Rs. 1000/- and additional pasting fees of Rs. 100/-
It's the completely choice of the owner and tenant that whether they want to register the agreement from the Notary Public or from Sub-Registrar, however if you are going to make the agreement for above 1 year than it is mandatory to make it register from Sub-Registrar as the value of stamp of Notary Public is only for One year.
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I am Neha, writer at eDrafter.in. eDrafter.in is a online portal of highly qualified team providing the reliable platform to Create your own Document. You will surely love the ease of getting the Documentation services related to DDA Property from this innovative platform.
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