The apartment rental agreement is used when someone wants to rent a single unit in an apartment complex, not the entire property. Such rental contracts must be drawn up carefully, with clauses relating to the right of access to common amenities and the rules of the residents` association. See also: Main clauses for each lease Pursuant to section 35 of the Indian Stamp Act, 1899 [Amended vide Tamil Nadu Act 31 of 2004], the stamp duty payable on the lease, including a sublease agreement, is shown in the following table: a. If the rental period is less than thirty years, one rupee is payable for each Rs.100 or part of the amount of rent, fine, premium or advance, if any;b. If the term of the lease/lease is thirty years or more, up to four rupees for each Rs.100 or part of the amount of rent, fine, premium or down payment, if any, payable;c. In accordance with section 4-A of the Act, if the rental agreement is not registered with the rental authority, the contract may not affect any immovable property, nor to take over or obtain, as proof, a power of acceptance or proof of a transaction that concerns such property or confers a right. The lease is nothing more than an agreement between the lessor and the tenant that sets out the details such as the duration, the amount of the lease, the conditions and the responsibilities of both the lessor and the tenant. A lease can save time and trouble for the landlord and tenant. In the case of a landlord, the agreement guarantees that the rent is paid on time and that the property is maintained by the tenant, for the tenant, it provides that the lessor does not modify the rental conditions according to his will or does not ask you to evacuate the property. Hello, I have already made the holiday and license contract for 22 months in a 100rs stamp document for the apartment staying. Is there still something to do? Stamp duty is a tax similar to that of income tax levied by the Tamil Nadu government.
Delays in the payment of stamp duty result in penalties….