To register a rental contract in Chennai, you must purchase stamps of the required value according to the above prices. Gone are the days when you had to buy traditional stamp papers from the notary. Now you can buy stamped papers with any value from some suppliers. Click here to check the format of a rental agreement in English. To help you, Legaldesk.com offers ready-to-use rental models that would help you complete the process with ease. In addition, the contract is printed and delivered to your preferred address. Registration under this law is mandatory for rental/rental contracts. Even if the contract is titled “Licence” or “Leave- License,” if the terms of the contract create a right to the property, that agreement must be registered under that law. The “conditions” of the contract determine the nature of the agreement and not the “title” awarded to the contract. Under Section 4-A of the Act, if the lease is not registered with the rental authority, the agreement does not affect the real estate it contains or confers a power to repossess it or obtain as evidence of a transaction that affects that property or confers a right. The Registration Act of 1908 requires the registration of a lease if the tenancy period is more than 11 months.
Typically, for leases for less than 11 months, twenty rupees of stamp papers are used. Over 11 months, it depends on the amount of the annual rent plus the deposit. 1% of the total amount is stamp duty. The omission of certain important clauses in your tenancy agreement leads to unpleasant legal conflicts in the event of disagreement between the tenant and the landlord. Even if the two parties know each other, the ideal is to reach a comprehensive agreement to turn your back. See also: The most important clauses for each lease If you opt for a rental term of less than 11 months, a buffer paper of Rs 20-100 can be used for this purpose. Although, as mentioned above, this type of lease is recognized in the legal corridors. To address these challenges, the EU government designed the Model Rent Act, which recommended that all rental contracts be registered in writing, regardless of their duration.