Leave and license agreement

Querist : Anonymous (Querist) 27 August 2021 This query is : Resolved
Hello, Am resident of Ahmedabad and want my house in cooperative housing society to rent out on 5 years leave and license agreement to a proprietary firm. My queries are;

1. Can I give residential property on commercial leave and license agreement for 5 years
2. Apart from paying stamp duty and registration what other formalities are needed to formally close the deed

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Quick Summary

Renting out a residential property in an Ahmedabad cooperative housing society on a 5-year leave and license agreement to a proprietary firm requires careful consideration. While a 5-year agreement is possible, it's crucial to first confirm with the housing society committee if commercial use is permitted, as many societies prohibit it. If allowed, ensure the agreement is registered if it exceeds 12 months, and be aware of potential renewal or surrender procedures upon expiry.

kavksatyanarayana (Expert) 27 August 2021
Before going to rent your house for commercial purposes, ask the committee of the society whether it is permissible or not. Usually, such commercial purposes will not be entertained in the coop. housing societies. It is permissible, then after the completion of the period, you (both parties) may extend it or the lessee(tenant) shall execute Surrender of Lease Deed

Dr J C Vashista (Expert) 28 August 2021
Cooperative Housing Society in any State through out the territory of India do not permit commercial activities in the complex.

Advocate Bhartesh goyal (Expert) 28 August 2021
No, flats in co-operative housing societies are used for residential purposes so can't be leased out.

T. Kalaiselvan, Advocate (Expert) 28 August 2021
You may not be able to let out your property to a firm for conducting commercial activities in the flat, especially if it is within the residential area.
If the firm would like to take it on lease for the residential purposes to accommodate its staff, you may go ahead.
Just ascertain the facts and then arrive at a conclusion especially when commercial activities are forbidden in the residential complex.

P. Venu (Expert) 28 August 2021
What is the nature of the commercial activity?

Pradipta Nath (Expert) 29 August 2021
1. You can have leave ad license agreement for 5 years, provided the Co-operative Society is taken under concurrence in this matter.
2. Under the Registration Act, 1908, it is mandatory to register a rental agreement or your leave and license agreement if its tenure is more than 12 months.

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