After successfully paying the required fees, the applicant must make an appointment with the Sub-Registrar. Arriving at the Sub-Registrar with the required documents in printed form will ensure that the successful registration of the applicant`s assets is completed quickly. Myhomelease is a government-licensed electronic registration service provider. I had contacted MyHomeLease to get the lease from my in-laws who are elderly people and who moved to Coimbatore. You have your rental property in Thane Mumbai. We encountered many problems to complete the process due to the pandemic situation, but MyHomeLease took it as his personal responsibility and helped us with all their heart and everything went smoothly in a short time. I really appreciate the professional approach and methods. Thank you very much and I wish you good luck for all your upcoming projects. God bless your team Registration and Stamp Department, the Pune Maharashtra State Government has introduced the electronic registration module allowing the citizen to register the holiday and license contract online at any time and from anywhere without going to the secondary registration offices. Electronic registration was introduced on 2 February 2014.
The formula for calculating stamp duty on the rental agreement is 0.25% x D, where D (monthly rent x number of months) + (Anticipated rent for the period / non-refundable deposit) + (10% x Refundable deposit x Number of years of the contract). For example, if you sign a holiday and license agreement for 24 months with a monthly rent of Rs 25,000 and a refundable deposit of Rs five lakhs, you will have to pay a stamp duty of Rs 1,750 (0.25% on the rent of Rs six lakhs for two years and interest of Rs one lakh for two years). Myhomelease is the market leader in the field of online L&L services, I define them as the master of the 3E: efficiency – the team has the potential, bandwidth, knowledge and expertise to perform the services as easily as possible efficiency – respect the customer`s resources as well as his own, whether it is your time or your money. They come to you completely during the execution of the recording and require minimal involvement, but things are coordinated. Efficiency – the result is an impressive, hassle-free registration that inspires you to become more digital and enjoy more of these services. Highly recommended. The registration fee for a lease in Maharashtra depends on where the rented property is located. The registration fee is Rs 1,000 if the property is under a municipal body area, and it is Rs 500 if it is located in a rural area.
Unless otherwise agreed, the costs of stamp duty and registration are the responsibility of the tenant. The Maharashtra State Registration and Stamp Department has launched the electronic registration of the leave and license contract there, which has greatly simplified the registration process. People in the state of Maharashtra can make the electronic registration themselves from home, who have access to all the prerequisites for the process (biometric device, as specified by the department, webcam, etc.) and are familiar with the use of online services, can very well carry out the process at home or in Internet cafes. To register the contract, you will need some basic documents from the tenant, landlord, and witnesses, such as . B a passport photo, a photocopy of proof of identity (e.B. PAN card) and a utility bill or property document such as Index II or a tax receipt for the rented property. The rate of stamp duty for holiday and licence contracts is the same for residential premises as well as for commercial premises. The holiday and licence agreement can be concluded for a maximum period of 60 months. The ministry has also trained these authorized service providers (ASP) for the citizen who can use this service at the nearest point of sale, where you can use for electronic registration or even this installation at your door, depending on your convenience time, which are paid services. In Maharashtra, holiday and licensing agreements must be stamped with a fixed stamp duty rate of 0.25% of the total rent for the period. In the event that a non-refundable deposit is also paid to the owner, a stamp duty of the same amount will also be levied on these non-refundable deposits.
To reduce the frequency of stamp duty, people used to pay a large amount in the form of an interest-free deposit with the nominal rent. This gap has been closed, and now, in cases where a refundable deposit is collected from the owner, a fictitious annual interest rate of 10% will be charged on that interest-free deposit, and you will have to pay stamp duty at the same rate on that interest for each year of the license term. It is the landlord`s responsibility to ensure the registration of the lease, otherwise the landlord could have to pay a fine of Rs 5,000 and face a prison sentence of up to three months. In the event that the holiday and license agreement is not registered and there are disputes between the owner and the tenant, the terms of the contract claimed by the tenant will be considered the true and correct conditions under which the property has been delivered for rent, unless proven otherwise….