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Devendra D   09 December 2015

Leave & license exceeding 60 months in mumbai (Query)

Hi,

I found the opinions given by fellow members very useful in many matters. Thanks..

I have a query regarding Leave & License for immovable property at Mumbai.

I understand that :

1. L&L is governed by Maharashtra Rent Act, 1999

2. L&L is registerable and have fixed formula for calculating Stamp Duty and Registration Fee if period is upto 60 months.

3. If L&L is for the period above 60 months (with or without renewal clause) the Stamp duty and Registration fee are applicable similar to a Lease. 

Now my questions are :

a) If i am willing to renew the L&L wherein cummilative period is going above 60 months, is there any risk (including but not limited to licensee being deemed to be tenant / lessee) ?

b) Any risk if the L&L cummilative period going above 108 months (9 years) ?

c) What is the use of general practice of leaving one day gape between renewal of L&L (in cases where cummilative period is going above 60 month / 108 months)?

 

Thanks

Devendra  

 



Learning

 3 Replies

Adv. Yogen Kakade (+ 91 9225510883)     09 December 2015

Hi,

You can execute L&L agreement for further period of 108 months only after the expiry of the existing agreement.. i.e 12.00 at night of the last day of the license period.

You can execute a fresh L&L agreement for further period if you dont want to mention the renewal clause.

You can execute an agreement of L&L for the period of 108 months.. be very keen towards mentioning the specific clauses such as transfer of rights, tenancy rights, taxes, covenants, representations, insurance,breaches, termination etc.

Calculate the Stamp duty and reg. charges (you can refer the IGR site for the same to get exact amount of SD & Reg. Charges) and get it registered.

Adv. Yogen Kakade

Jurycon Incorporation

Advocates & Consultants
Email: juryconincorporation@gmail.com
Web: www.juryconn.in  

1 Like

Devendra D   09 December 2015

Thank you ... appericiate the quick response...

So..

You do not see any risk if the Agreement is renewed (with or without mentioning renewal specifically; as a cluase) for longer period if other aspects are taken care of.

Whats your take on general practice of leaving a gap between the Renewal? Is it relevant / useful ??

 

 

 

 

Hannah Hope   27 February 2020

An Indian rule and role is played for the brick paces for the candidates. The nation of the turns and essaytyper are sharply followed for the assumption for the team. The purity is held for the citizens. The medium-range is done for the road of the mapping and all suggestions for the terms.


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