Rent agreement for residential house and stamp value require

Dear Mr Ramaroa, It is not mandatory . But it gives mutual protection to tenant and owner of the rented premises. It becomes significant incase of enforcing certain covenants to the owner and tenant. It plays a vital role in the below aspects 1) to get protection under rent control 2) to enforce terms for eviction in case of disputes 3) to enforce notice period 4) to enforce term based contract 5) to facilitate periodical rent revision Rs 50 stamp paper holds for such agreement. Thanks, Chellapandian k

It is better to go for LEAVE AND LICENSE AGREEMENT. rather a rental agreement.

There is a difference between rent agreement and leave and licence agreement.

In the former you give an interest to the tenant which may not be easy to get it vacated unlike in leave and licences whereunder if proper care is taken the licensee may be made to vacate the premises easily.

In L&L stamp duty is less and is governed by the Easements Act and the renting is government by the local Rent Control Act which have very stringent provisions.

Generally Rent  and leave & licence agreements are used interchangeably but mostly when Rent Agreement is mentioned what is implied is the L&L agreeement and not the  not the agreement under the Rent Act.

In other words take care not to draft a rent agreement when what you desire is the Leave and LIcence Agreement.