ADVANTAGES / FEATURES
Drafting The Agreement
To draft the rental agreement, you need to do the following
Discuss important matters like rent, security deposit, maintenance charges etc
Prepare a rough draft with details like names of parties involved and address of the property clearly mentioned
Add important clauses to the document
Purchase stamp paper of recommended value, print your draft on the stamp paper. Alternatively, you can use our Rental Agreement Service and we will do it all for you.
Place signatures of both tenant and landlord, in the presence of two witnesses
Register the deed at local Sub-Registrar office
Stamp Duty & Registration
Stamp Duty – It is the duty paid to the Government whenever an agreement or transaction is created. Stamp Duty is calculated on the basis of the value of the transaction. It is paid to the Government by purchasing Stamp paper of due value.
There are two kinds of Stamp papers: the traditional Stamp paper and the e-Stamp paper.
Registration of the lease/rental deed in Delhi has certain procedure that needs to be followed by all.
Charges related to registration:
For a lease up to 4 years, the Stamp paper cost is 2% of the total average annual rent plus Rs.100 for the security deposit paid. For Five years to less than ten years – 5% of the value of the average annual rent. For ten years and more to less than twenty years – 5% of double the value of average annual rent
A Demand Draft (DD) of Rs. 1100 needs to be taken for the Registration charges.