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Hari (Computer Engineer)     03 August 2013

Flat rental agreement in chennai

@ Legal Experts in Tamilnadu

I recently purchased a brand new residential flat in Chennai. Atleast next 3 Years, we are planning to rent out this flat to a family, until we return.

I hereby request, Legal experts to advice the recommended tenancy agreement applicable in Tamilnadu, either Lease/Rental Agreement for 11months or Leave and License Agreement, renewable yearly.

Further, if this agreement is signed on Rs. 20 stamp paper, will it legally stand ? or would it be mandatory to register the agreement with stamp paid, even if its 11 months terms ? 

It will be of great help, if you could kindly share the copy of the agreement template for my reference.

Thanks & Regards
HARI



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 3 Replies

adv.raghavan (Advocate,9444674980)     03 August 2013

it will be 11 months to be renewed every 11 moth,, more than 11 months it has to be registered, it is better to have  LEAVE AND LICENSE AGREEMENT, 20/- stamp paper is enough. if you want to be registered it is your wish. u did not mention whether  it is for commercial or residential. Generally people use to go for registration of agreement only when they have big corporate. 

Hari (Computer Engineer)     03 August 2013

Thank you Sir,


Yes, its a residential unit/flat, and the tenant is an individual (family) and not corporate.

For the purpose of awareness, may I know the PROS and CONS of LEAVE AND LICENCE agreement !
Also, I would like know if ANY special clauses needed in the agreement, to strengthen in favor of the owner, legally.

Also, kindly indicate the renewal terms (upon completion of 11 months), if applicable.

It will be very helpful, if you can point me to a link where I can find the agreement template, being followed in Chennai/Tamilnadu.

Thanks & Regards
HARI

Hari (Computer Engineer)     04 August 2013

Most of the Google hits on LEAVE AND LICENCE pointing to Maharashtra based agreements and Bombay Act, in specific.
Is this still legally valid in Tamilnadu ?

Secondly, being a residential flat and renting to a family (not commercial), wouldn't be good enough to have Lease/Rental Agreement for 11months with  2 months notice period for eviction, protects either sides ! Having said, many Google hits in Chennai/Tamilnadu flat rental agreements, refering to Lease/Rental agreements with 11months and renewal terms.

Do you still consider any risks with the existing rental act in Tamilnadu ? May I seek your advice.

Thanks in advance.

Regards
HARI


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