Home > Uncategorized > Rent Agreement Law In Maharashtra

Rent Agreement Law In Maharashtra

April 11th, 2021

Unfurnished apartments of 1-BHK with high rent, shows study Housing.com. The stamp duty rate for holiday and licensing contracts is the same for residential buildings and commercial premises. The leave and licence contract can be executed for up to 60 months. The landlord also has the right to increase the annual rent if he has to pay higher taxes levied on the state. In this case, the increase in rent should not exceed the amount of the increased tax. If you. B enter into a leave and licence contract for 24 months, with a monthly rent of Rs 25,000 and a refundable deposit of five Lakhs, you must pay a stamp duty of Rs 1,750 (with 0.25% on the rental of Rs six Lakhs for two years and Rs a Lakh for two years). A landlord does not have the right to take possession of premises as long as the tenant pays or is willing to pay. In addition, the landlord cannot move into the tenancy until the 90-day expiry due to non-payment of the rent. The 90-day period would begin 15 days after the landlord`s notification to the tenant, as provided for in Section 106 of the Property Property Act 1882. Housing.com has launched a fully digital, contactless service to create leases.

If you want to complete the formalities quickly and without any problems, you just have to fill out the details, create the online rental contract, sign the contract digitally and get an electronic stamp in seconds. The landlord and tenant must declare the lease. “Any holiday and licensing or rental agreement between the landlord and the tenant or licensee must be established in writing after this law comes into force and registered under the 1908 Registration Act,” the law states. The responsibility for registering such a contract rests with the owner. If this is not the case, he is liable to a prison sentence of three months or a maximum fine of 5,000 ru. or both. In areas where the provisions of the law apply, the imposition of rents above the standard rent is illegal.

Be Sociable, Share!
Categories: Uncategorized Tags:
Comments are closed.