rent agreement

Neeraj Kaushal (Querist) 28 February 2011 This query is : Resolved
i have executed an agreement of rent of a shop between the tenant and landlord shop situated in Punjab state , The monthly rent of shop is fixed rupees 2000/ per month between the parties . The time period of agreement is 11 months . I have executed the rent agreement on 3rupees stamp paper , agreement is unregistered but signed by 2 witnesses , Rent agreement on 3 rupees stamp paper is valid in the eyes of law ,

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Amit Pateria (Expert) 01 March 2011
Dear Mr. Kaushal,
As per the provisions Transfer of property act,1882 every transfer of immovable property needs to be registered and as per the Indian Stamps act you need to affix proper stamp duty.
Since the premises in question is a commercial property hence you must get the rent agreement/lease deed registered, in any case the stamp duty would be not more then a couple of hundred rupees.
Regards
Amit Keshav Pateria

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