Leave and Licence Agreement Maharashtra

According to the Registration Act of 1908, it is mandatory to register a rental agreement if the period is longer than 12 months. To avoid stamp duty and registration fees, vacation and license agreements are usually valid for 11 months. Home » Rental » What is a holiday and license agreement? GOVERNMENT OF MAHARASHTRA Thursday 08 July 2000 Part 4 A DEPARTMENT OF REVENUE AND FORESTS Mantralaya, Mumbai 400 032, dated 8 June 2000 NOTIFICATION The Registration Act, 1908. RGN.2000/2120/CR-592/M-1- In the exercise of the powers conferred by sections 78 and 79 of the Registration Act 1908 (XVI of 1908), in its application to the State of Maharashtra, read with section 55 (1) of the Maharashtra Rent Control Act 1999 (Mah. XVIII of 2000), the Government of Maharashtra hereby amends, with effect from the date of publication of this Notice, the Schedule of Fees established in accordance with the above-mentioned Article 78 and the advice of the Government, Department of Taxation No. RGN. 1558/67731-N, dated 17 July 1961, as required by article 79 above, namely: In the above-mentioned SCHEDULE OF TAXES, article III provides for the following article, namely: « III A For the registration of a document agreeing to a leave and a licence, if this document relates to the immovable property located; in the area of the boundaries of one; Municipal Corporation ₹ 1000 In any other region ₹ 500 By order and on behalf of the Governor of Maharashtra, P.G. CHHATRE Undersecretary of State of the Government Note: For online registration, the Aadhaar card is mandatory, as the parties must verify their identity when submitting the agreement by giving fingerprints that retrieve data from the Aadhaar card database. In addition to the Aadhaar card, the licensor`s PAN card is mandatory. Other documents may be required if the parties are PVT Ltd, Trust, HUF, etc.

A leave and license agreement grants the licensee the right to occupy the licensor`s property if that right would be unlawful without such permission. A vacation and license agreement is subject to the Indian Easement Act of 1882 and is different from a lease or rental agreement. In Article 36(A)(a), …… (i) in column 1, the words `sixty months` shall be replaced by the words `thirty-three months`; (ii) in columns 1 and 2, the words `twelve months` shall be replaced by the words `eleven months`; From 1 May 2013, the new stamp duty rates will apply to holiday and licensing contracts. 1) In other words, if stamp duty is indicated on a document ₹ 101 or more up to ₹ 149, then ₹ 100 is due. 2) If the amount of stamp duty is ₹ 150 or more up to ₹ 199, ₹ 200 is due. How to calculate stamp duty on public holidays and license agreement in Maharashtra? We have tried to explain it in a simple way so that it is easy to understand. 1. (R) Rent 12000/- [monthly rent] 2.

(m) Month 12 [months] 3. – (TR) Mr President, ladies and gentlemen Total rent =(R) x (M) 144000 = 12000 x 12. – (RD) Mr President, ladies and gentlemen The refundable deposit is 10% 10000 = 100000 x 10% 5th (NRD) Non-refundable deposit 24000 / – 6th – (TA) Mr President, colleagues Tax base = (RD) + (NRD) + (TR) 178000 = 10000 + 2400 + 144000 7th (TA) x 0.25% 8th (SD) Stamp duty = (TA) x 0.25% 445 = 178000 x 0.25% 9. (DSR) Rounded stamp duty (pursuant to subsection 2 of section 70 of the M.S. Act 1958) 400 (Rounded Stamp Duty) As no easement duty is granted, the landlord may revoke the authorization granted to the tenant at will. In cases where the owner wishes to rent out their property for short periods, drafting a lease on the basis of a vacation and license agreement gives them the freedom to do so. This is also advantageous for the tenant, as he does not have to meet long notice periods to free up the space. Sir, please download the video on how to join Poa with vacation and license agreement? Stamp duty can be paid on the Maharashtra Government`s electronic registration portal. In addition, you choose to create your holiday and license agreement through us as we pay the stamp duty and make sure your agreement is registered. You can calculate both stamp duty fees and registration fees from our stamp duty calculator.

Even if the parties decide to keep an agreement for a longer period, they can jointly decide on the condition of the rent increase and mention it in the agreement. e.B. 7% rent increase after 12 months. A vacation and license agreement is known to be convenient for the landlord compared to the benefits it offers to the tenant. However, equipped with the correct content of the clauses, both can reverse the trend towards the discretion of the other. We hope that with the help of the above knowledge, it will help each of you to design the right deal with less or no friction! A lease creates an exclusive interest in the property for the benefit of the tenant, while a vacation and license agreement does not create an interest in the property vis-à-vis the tenant. See also: Differences between leases and leases Years: The only difference is the type of process (online and offline), there is no difference in terms of legal value. In the online process, the parties submit the agreement in a non-binding form, and that agreement is then submitted to the Sub-Registrar for approval. In the offline process, the parties submit the agreement in concrete form in person by going to the sub-registration office. [/expand] A tenant can only revoke a contract if it is expressly mentioned in one of the clauses.

Licensor may send notice to Licensee expressing its wish to expel Licensor. .