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Stamp duty and registration laws for rentals in Maharashtra 2018/ 2019

Stamp duty and registration laws for rentals in Maharashtra 2018/ 2019

There are many legal formalities in which one must obey, buy or rent a property, leave and license agreement must be stamped and registered. As stamp duty is the state subject, all the states have laws governing different rates and stamp duty.

The formula to calculate the stamp duty payable on a rental agreement

Monthly rent is not of X months = A

For advance / non-recoverable deposit = advance rent for b

10% x refundable deposit x number of years in contract = c

Total amount of stamp duty = D = A + B + C

Stamp Duty = E = 0.25% x D

For example, if you enter the release and license agreement for 24 months, the monthly rental is Rs 25,000. And Rs 5 lakh If refund is payable, then you get Rs 1,750 Stamp Duty of (0.25% rent to be leased) Six lakh for two years and one lakh for two years)

Stamp duty and registration laws for rentals in Maharashtra 2018/ 2019

Stamp duty and registration laws for rentals in Maharashtra 2018/ 2019

Registration provisions for rental agreements in Maharashtra

It is the responsibility of the landlord to register the contract of the fare, if the failure, then the employer has to pay a penalty of Rs. 5000 and he will be imprisoned for three months. If the leave and license agreement is not registered and if any dispute arises between the landlord and the tenancy, the agreement and terms and conditions given by the tenant shall be carried out in accordance with the real and exact conditions in which it is the real estate, unless it is proved otherwise the rent will be paid.

The registration fee for lease agreement in Maharashtra depends on where the asset is leased. If the property is in rural area then Rs. If there is 500, the registration fee is Rs. 1 thousand. On the contrary, in the absence of any contract, stamp duty and registration price is taken by the hirer.

 

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