In Maharashtra, holiday and licensing contracts must be stamped with a flat stamp duty rate of 0.25% of the total rent for the period. If a non-refundable deposit is also paid to the lessor, stamp duty is also levied on these non-refundable deposits. Housing.com has implemented a fully digital and contactless service to create rental contracts. If you want to complete the formalities quickly and without problems, you just need to fill in the details, create the rental agreement online, sign the contract digitally and mark it in seconds by e-stamp. Currently, the tenant or landlord has to pay a stamp duty of 0.25% and a registration fee of Rs 1000 for real estate in an urban area. The cost of rural areas, rule 500, is the cost. Apart from these expenses, the tenant or landlord is not obliged to submit any other fees for the contract. In accordance with Section 17 of the Indian Registration Act, which applies to the whole of India, any real estate lease agreement must be registered from year to year or for a period exceeding one year. Therefore, unless otherwise provided by state law, each leave and license agreement must be registered for a period of 12 months or more. It is a fact that property and rent laws in India vary from state to state.
Since you are looking for a rented property or want to rent your property, you must first know the rules and rules of the Maharashtra rental agreement. The question here is how to do it. For this, you do not need to look elsewhere than on the Internet. If you search online, you can easily gather the desired information about it. There are two ways to register your vacation and license agreement online. The basic framework of stamp duty is set out in the Indian Stamp Act of 1899, which allows states to modify them according to their needs. As a result, the Government of Maharashtra passed the Bombay Stamp Act in 1958. Payment of stamp duty on leave and licensing agreements is covered by section 36A of the Bombay Stamp Act 1958….