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Avinash   30 July 2017

Renting shop with 11 month agreement (notarized)

Hello Sir,

I give my shop on rent with 11 month agreement (notarized).

1) I read on some forumn that rent agreement (on stamp paper - 100 rs) have no legal value in case of dispute with tenant ? Is it correct ?

2) Generally in how many years ; we need to get shop get vacated and search for new tenants.

Please advise and comment.

Regards,

avi

 

 



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 9 Replies

Siddharth Srivastava (Advocate)     30 July 2017

As per law the stamp duty should be 2%of average annual rent. If you execute the agreement on Rs.100/- then if in court you claim your right in terms of rent agreement then you shall be liable to pay required stamp duty and penalty thereon.

1 Like

Krishna. Advocate (Advocate)     30 July 2017

Which state?
1 Like

Krishna. Advocate (Advocate)     30 July 2017

Which state?
1 Like

Ms.Usha Kapoor (CEO)     31 July 2017

YOU REGISTER YOUR NOTARISED LEASE AGREEMENT FOR PROVING IN COURT OF LAW. RS.100 STAMP DUTY IS VALID.ON LEASE AGREEMENT. AFTER 11 MONTHS  THE LEASE GET TERMINATED UNLESS THERE IS A RENEWAL BY TENANT.

1 Like

Ms.Usha Kapoor (CEO)     31 July 2017

If you  appreciate my above answer pleqse click like button.

1 Like

Kishor Mehta (CEO)     31 July 2017

Sir, In Maharashtra it is mandatory to get a Leave & Licence document stamped and registered, each State has its laws of registration. You should follow the applicable laws of your State. Good luck, Kishor Mehta
1 Like

Dr J C Vashista (Lawyer)     31 July 2017

Rent agreement for 1 year and above is required to be compulsorily registered in terms of Section 17 of the Registration Act.

However, less than 1 year registeration is optional and notarised agreement is valid.

Further exetention of agreement/time is by mutual consent and no such law exist as apprehended by you.

1 Like

Avinash   02 August 2017

Thank you Dr J.C Vashista Sir, Kishore Mehta Sir, Usha Kapoor Madam, Krishna Sir and Shidarth Srivastava ir.

Thanks for taking time and replying to my query.

 

My property is at Telangana (Hyderanad).

So 11 month agreement (notarized) is safe and is a legal document in case of any disputre with tenant.

After every 11 months ; i need to review it.

If a tenent keep staying in for 10 - 12 years(after every 11 months rental agrement renewed); will make his case stronger ?

I am just thinking to change tenant every 4-5 years .. Please advise.

Regards,

Avinash

 

Nevil   10 August 2017

Its always best to change tenants every few years

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