Legal Question in Landlord & Tenant Law in India
Is the registration of leave and license agreement for non residential use compulsory in maharashtra? If yes what is the period of registration of leave and license? Whether the stamp duty for leave and license agreement for non residential use necessary in maharashtra? If yes what is the amount of stamp duty? Can the premises be given on leave and license for non residential use for a period of 5 years in maharashtra?
1 Answer from Attorneys
Hi,
As per law " An instrument creating a lease of immovable property for a term of one year and above is required compulsorily to be registered by virtue of provisions of Section 17 (d) of the Indian Registration Act."
With respect to Period of lease, Rent, %increase on periodical basis are the grounds mutually decided by the Landlord and Tenant, law is silent on it. Registration provides the binding effect.
Regards.
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