My company (Licensee) (ABC Pvt. Ltd.) is taking an office premises on Leave and License basis from an Indian inhabitant(Licensor) .Premises is located in Delhi. Licensor (aged 70 yrs) resides in Mumbai. It is agreed we shall prepare SPA in Mumbai (in favor of Licensor's daughter or daughter -in- law as the case may be) and get it registered here in mumbai itself. Monthly rent is Rs.100000 (one lac). Term is 4 years and 1 year renewal .This term does does not include first three months which he provides us free of rent for interior decoration. My questions are:-
1. Whether SPA needs to be prepared in Mumbai (residence) or Delhi (premises location) or any other place??
2. Whether SPA needs to be registered compulsorily?? If yes is there the stamp duty / registration charges??
3. What is stamp duty on agreement ?? (Please give calculation) Can it be reduced if we take 3 yrs + 1 yr. renewal. i was informed by Mr. x that stamp duty is Rs. 24100. Is it correct??
4. What are registration charges of agreement?? Where is it registered in Delhi or Mumbai??