Go Party? Go Skafa! Go Skafa! Go Party!

But if Ashok had initially made the deal by paying the appropriate stamp duty, he would only have had to pay Rs. 1860/ – therefore, it is still recommended to pay the appropriate stamp duty and be relaxed. LegalDesk.com offers a very convenient way to create your lease online without having to consult lawyers or search for stamp papers. You can also create a variety of other legal documents with LegalDesk.com! Most leases are signed for 11 months to avoid stamp duty and other fees. Under the Registration Act 1908, registration of a lease is mandatory if the term of the lease is longer than 12 months. When a contract is registered, stamp duty and registration fees must be paid for it. For example, in Delhi, the cost of buffer paper for a lease of up to five years is 2% of the total average annual rent of one year. Add a fixed fee of Rs100 if a deposit is part of the deal. For a lease of more than 5 years, but less than 10 years, it represents 3% of the value of the average annual rent of a year.

For 10 years and more, but less than 20 years, this is 6% of the value of the average annual rent of a year. The stamp paper can be in the name of the tenant or landlord. In addition, a fixed registration fee of Rs 1,100 is also payable via Demand Draft (DD). To avoid paying these fees, many landlords and tenants mutually agree not to register contracts. If you want to register a lease, tenants and landlords can agree to share the costs. It is often a practice among people to create leases on buffer paper with minimum values such as Rs.20/-or 50/-or 100/-, etc. This saves money on paying the actual stamp duty prescribed by the government.

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