The procedure for registering a commercial lease and the stamp duty are similar to those of leases. 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). Under Section 17 of the Indian Registration Act, which applies to all of India, any real estate lease agreement must be registered from year to year or for a period of more than one year. Therefore, unless otherwise required by national law, any leave and licence contract must be registered for a period of 12 months or more. The basic framework for stamp duty is defined in the Indian Stamp Act of 1899, which allows states to change the same rules according to their needs.
As a result, the Maharashtra government passed the Bombay Stamp Act in 1958. The payment of stamp duty on leave and licensing agreements are covered by Section 36A of the Bombay Stamp Act of 1958. Applicants can pay stamp duty and stamp duty online by generating a Challan voucher online. The calculation of stamp duty is usually based on certain indications to be mentioned when registering a property: Housing.com has created a fully digital and contactless service to establish rental contracts. If you want to complete the formalities quickly and without any problems, you just have to fill out the details, create the online rental contract, sign the contract digitally and get an electronic stamp in seconds.