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Registration of Lease deed - Stamp duty/fees in Tamilnadu

Querist : Anonymous (Querist) 17 February 2010 This query is : Resolved 

we have to enter in to a lease with a company for 3 years period wth an option to extend the lease for another 3 years .
The average rent works out to Rs 30,000 per month . we receive a six months deposit for the same.

To register this lease what are the stamp duty and fees that becomes payable in Tamilnadu.

Thanks for your help in advance.
N RAMESH. (Expert) 17 February 2010
Stamp duty is one percent of the rent or advance, whichever is higher.
Querist : Anonymous (Querist) 17 February 2010
Thanks Mr Ramesh.
When you say 1% of the rental for 3 years or six years or only one year.
The lease is for 3 years and we are putting option class for further renewal of 3 years.

When we approached the sub registrar in Karaikudi he calculated at the rate of 4% and asking us to pay one lakh seventeen thousand !!!.

Apart from stamp duty is there any other levies / fees applicable ?

Request your clarification.

N RAMESH. (Expert) 23 February 2010
The rate of 4% is applicable only in case, where period of lease is thirty years and above and up to ninety-nine years.

Refer Article 35, Schedule-I of Indian Stamp Act.

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