Stamp duty and registration charge
(Querist) 14 July 2023
This query is : Resolved
My friend is leasing his commercial space in Kolkata for 15 years for Rs. 2,50,000 per month for the first 3 years, and thereafter with 15% increase in rent every 3 years. What will be the stamp duty and registration charges payable please?
(Expert) 14 July 2023
The same duty is at Rs.5% for a consideration equal to twice the amount or value of the average annual rent reserved. Annual rent means the total lease amount for the whole period of such lease subtraction from the lease period ( if the lease is 3 years with a rent of Rs.1000/-pm for the first 1 year and after that Rs.2000/-pm, the total lease amount for 3 years is Rs.60000/3=Rs.20,000/- per year).
T. Kalaiselvan, Advocate
(Expert) 15 July 2023
A good explanation and opinion rendered by expert Mr. KAVAK SATYANARAYANA, I concur with it.