CHEENI (SELF EMPLOYED) 23 July 2010

LEASE AGREEMENT

I have let out my Chennai house to a tenant for residential purposes since 2004 under a 11 month lease agreement signed in a Rs 20/- stamp paper and had been extending this after every 11 months in Rs 20/- stamp paper. Actually the last extension expired on 31st May 2010 but due to preoccupation I could not get the extension agreement signed in a Rs. 20/- stamp paper. Is it okay I get the agreement signed in Rs 20/- stamp paper dated 24 July 2010 in which the effective date of extension is from 1st June 2010 - meaning extension with retrospective effect? Appreciate clarification.

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3 Replies

Bobby Mani T (Lawyer) 24 July 2010

First of all what is the basis of signing the agreement in Rs. 20 stamp paper. Who adviced you to do so. In fact you should comply with the stamp Act and you should sign an agreement on a sufficiently stamped paper. You should consult a good lawyer I add emphasis on the word good. Lease agreement should be entered in stamp paper similar to bottomry bond and each state may differ slightly. that is why i ask you to have a consultation. Further the earlier agreement is proof of lease but the lease agrrement on rs. 20 stamp will put you in diffucykty.

Chirag Bhatt (Lawyer Gujarat High Court) 24 July 2010

Agreed with Mr. Mani

Nanny (o) 23 August 2010

Lease Deed in Chennai used for residnetial purpose can be stamped on Rs.20/- stamp Paper. As long as there is no legal issues.

As advised above by our faternity senior member Mr.Mani , incase of any legal complications the same cannot be submitted as evidence in the court of law. To avoid this and to enforce your legal right Mr. Cheeni advised to send us the Lease AGreement . For us to advise you on the stamp duty.

I am a In-House Legal consultant based in Chennai. Can email me on j.n.narmada@hotmail.com for further clarifications.

Regards

Namy (Attorney)