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Stamp duty for rent agreement in mumbai (rent rs. 17000 pm)

(Querist) 30 June 2015 This query is : Resolved 
We are in process to execate Rent Agareement. The value of Rsent is Rs. 17,000/- per month.

The total rent for the 11 month will be Rs.1,87,000/-

What will be the stamp duty for the same in Mumbai ?

Please suggest.
Many many thanks.
M V Gupta (Expert) 01 July 2015
It is presumed that u are entering into leave license agreement as is normally done in Mumbai. If this correct, then the stamp duty should be calculated at the rate of 0.25% of the annual license fee + SD + interest calculated at 10% on the SD. The amount so arrived will be the stamp duty payable for each period of 12 months LL.In ur case if there is no security deposit, stamp duty will be Rs.467.50 ps for each year of license.
Kishor Mehta (Expert) 01 July 2015
Sir,

Mr. M. V. Gupta has replied the query about the stamp duty very clearly.

If I may add that there will also be a registration charge of Rs.1000/- in addition to stamp duty.

Please do not use the term rent agreement, the appropriate term should be "Revocable Leave & License Agreement".

Good Luck,
Kishor Mehta
Rajendra K Goyal (Expert) 05 July 2015
Agree with the experts.


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