SATYENDRA T (ACCOUNTS EXE) 04 February 2020
Joy Bose 04 February 2020
Akshay 04 February 2020
That is a great question
Customarily, a stamp paper of Rs 20 - Rs 100 can be utilized for a Rent Agreement of an 11 months duration.
Most of teh rent agreements are made for 11 months is because of the convenience and the cost.
This meaqns if the rent term is elevated by another monthe,say 12 months,a number of laws will come into exercise, making the process sophiscated for both, teh tenant and the landlord.
Additionally, if the rent agreement is prepared for 12 months or more,the registration process becomes a must, which brings along additional cost like registration charges, stamp duty charges, and so on.On these grounds, renting tenure is kept up to an 11 months period.
So from monetary perspective, stretching the rent agreement beyond the 11 month span would be uneconomical and from a legal viewpoint.
According to me if you move forward to 12 months and more rent agreement it will cost you more . So better to make a 11 months agreement.
Hope this will help you
kavksatyanarayana (subregistrar/supdt.(retired)) 04 February 2020
As per Registration Act, the lease for 11 months the registration of Lease is not compulsory. But in some states, it was amended that the leases for any period are compulsorily registerable document (as per Amendment (MP. CS. AP, UP ., etc) act to Registration Act and the stamp duty payable also amended. so check in your state.
Lokesh Loki 30 May 2020