My company is continuously entering into lease agreements in huge number. The lease deed is for more than 3 years or so, none of them are notarized and registered, also the they are executed on rs. 50/100 stamp paer.
1. do we need to get them notarized? If yes the relevant provision/ section
2. do we need to get it registered? If yes the relevant provision/ section
3. do we need to get them executed it on a higher stamp paer or pay stmp duty as I read that, on agreement to lease and lease deed: Leases for more than one year attract a stamp duty of 5% on the average annual rent and 14.5% on the deposit. This duty can be reduced by showing some of the amounts in a separate amenities agreement which need not be registered. Agreements to lease and lease deeds for less than one year also require the same stamp duty as above but as they do not require registration, they never get properly stamped.
Its urgent kindly confirm. Thanks in advance.