Token Advance – When the house is closed for rent, the tenant sometimes pays the landlord a small advance of chips. The goal is to prevent the landlord from maintaining other potential tenants. The advance of the token blocks the property until one of the equal parts surrenders. Once the symbolic advance has been made, both parties will be ready to conclude the agreement. But if one party goes a sequel, then that party must benefit from the loss to the other party. Most leases are signed for 11 months so they can avoid stamp duty and other fees. Under the Registration Act of 1908, registration of a lease is mandatory if the tenancy period is more than 12 months. If an agreement is registered, stamp duty and registration tax must be paid. For example, in Delhi, for a lease of up to five years, stamp paper costs 2% of the total annual rent of one year. Add a flat fee of Rs100 if a security deposit is part of the agreement. For a lease of more than 5 years but less than 10 years, it represents 3% of the value of the average annual rent for a year. For 10 years and more, but less than 20 years, it is 6% of the value of the average annual rent of a year. The stamp paper may be in the name of the tenant or landlord.

In addition, a flat-rate registration fee of EUR 1,100 million must be paid by the draft application (DD). The lease agreement is also known as a lease agreement and is a written contract between the owner of a property (the owner) and the tenant who accepts it as a rental. The agreement defines the conditions on which the property is leased, for example.B.: description of the property (address, type and size), monthly rent, deposit, purpose for which the property can be used (residential or commercial building), and duration of the contract. Its terms and conditions can be negotiated, but once signed, it is mandatory for both the lessor and the tenant. It also sets out the conditions under which the agreement can be terminated. Another type of popular rental is to get long-term rent for a number of years. There is no monthly rent to be paid by the tenant. At the end of the rental period, the landlord must return the rent amount to the tenant. Electricity, water and maintenance costs must be paid regularly by the tenant.

No interest is paid on the amount of rent. To register a rental agreement, the owner must provide the following documents: Once this has been done, you can visit the sub-registration office in your district and register the deed that pays the registration fee per application project. You can find the address below – It is to avoid paying these fees as many landlords and tenants agree to get unregistered agreements.