RESIDENTIAL LEASE (BHOGYA) AGREEMENT

Querist : Anonymous (Querist) 06 May 2010 This query is : Resolved
I would like to know the correct procedure for the house lease (no rent) or bhogya, and its validity for 11 months or 3 years. stamp paper value.

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Raj Kumar Makkad (Expert) 06 May 2010
Stamp duty is calculated on the basis of amount of consideration and State which you have suppressed so at least i am handicapped to tell you exact amount to be levied in your State.

ESTHERPRIYA (Expert) 06 May 2010
The validity of 11 months is valid lease without registration but in case of 3 years lease it is compulsory registrable. Incase of stamp duty the state is required to advise you.

Ashok Yadav (Expert) 06 May 2010
Lease of 11 months need not to be regd., but in your case if you are going to lease of house without rent, you will have to pay minimum amount of stamp duty as applicable in your state for 3 years lease. I will suggest you to enter in 11 months lease and for further renewal of the same.

G. ARAVINTHAN (Expert) 06 May 2010
upto 11 months, there is no need for registration. If registered, then it can be for the term agreed between the parties

B K Raghavendra Rao (Expert) 07 May 2010
Under Indian Registration Act, lease for a period of 11 months need not be registered and lease deed can be executed on a stamp paper of Rs. 100/- value.

If lease is for more than 11 months say 3 years, then lease deed is compulsorily required to be registered.

As you look to be from Karnataka, stamp duty applicable is 0.5 per cent of the total value of lease plus registration charges.

Querist : Anonymous (Querist) 09 May 2010
Thanks of all, Yes, I belongs to Karnataka, Here Lease means called bhogya which is pay the amount i.e 3 laks to the owner of the house for 3 years, after completion the 3 years he will return the money of 3 laks to me without any deduction and interest. so i would like to know that this kind of contract how can i execute legaly.

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