Franking, stamp duty & regn amount for leave & license agreement in thane
Simple Indian
(Querist) 15 July 2013
This query is : Resolved
Soon I will reside in a residential apartment belonging to my brother in Bhayander in Thane district in Maharashtra. I need to get a Leave & License Agreement (with all formalities like franking, stamp duty & Regn amount paid) made to avail of facilities like LPG & telephone connection, besides for change of address at my Bank. Have the following queries for experts to respond -
1. As actual monetary transaction will take place between me & my brother, what minimum rent & deposit can I mention in L&LA, as I understand that stamp duty & Registration charges depend on these amounts.
2. For what amount do I need to get the franking done on L&LA document
3. How can I get the document registered ? i.e. do I need to hire a lawyer / R.E. Agent ?
Request experts to respond / clarify. Thanks.
ajay sethi
(Expert) 15 July 2013
you need to enter into agreement with your brother . the period of agreement has to be mentioned .rate would depend upon your arrangement with your brother . whether he needs a security deposit from you and amount he wants to charge as license fee . get agreement drafted by lawyer .
Simple Indian
(Querist) 15 July 2013
Mr. Sethi, as mentioned in my earlier post, I need the L&L Agreement documentation purely to avail of services from certain agencies, and this has no financial impact on me or my brother. No money will change hands and the documentation is only due to KYC requirements by the agencies like MTNL, HPCL / BPCL for domestic LPG connection, etc. Hence, I want to keep my expenses to the minimum.
Since the stamp duty & Regn charges depend on the rent+deposit can I mention a token Rs. 1000 as rent and Rs. 5000 as deposit ? The amounts would seem unusually low to the Sub-registrar's Office, hence wanted a legal opinion.
When I have rented a house in the past from unrelated persons, I had engaged a real estate agent who did all the paperwork but charged a hefty 2 months' rent as commission. In this case, since I am getting paperwork done only for my convenience, and there will be no financial deal with my brother as such, want to avoid engaging a R.E. Agent / lawyer. Hope my circumstances are clear now.
ajay sethi
(Expert) 15 July 2013
in agreement mention that on account of close family relations nominal rent is being charged .since you are drafting agreement on your own you dont need a lawyer. however for registration purposes advisable to hire a broker .
Simple Indian
(Querist) 15 July 2013
Thanks Mr. Sethi. Have drafted and printed the L&L Agreement on green legal paper mentioning that I am the Licensor's younger brother. Hope that would suffice. Shall get franking done for Rs. 100, and angage an agent to help with the Registration process as advised, as it would mean "incidental expenses" at the Sub-Registrar's Office too.
