Rental Agreement In Maharashtra

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In accordance with Section 17 of the Indian Registration Act, which applies to the whole of India, any real estate lease agreement must be registered from year to year or for a period exceeding one year. Therefore, unless otherwise provided by state law, each leave and license agreement must be registered for a period of 12 months or more. In a recent development, the state revenue department sent a proposal to the housing department to consider filing rental agreements instead of registering them via mobile devices. E-Registration is a new facility set up by the Department of Registration & Stamps of the Government of Maharashtra, which allows you to register your lease online without visiting the Registrar / Sub Registrar Office. Signatures are recorded using a biometric device and the user`s data is verified using the Aadhaar database. Omprakash Deshmukh, Inspector General of Registration, talks about the evolution: „For the registration of vacation and license agreements, citizens must go to the sub-registrar`s office or go to another authorized provider. To save citizens time and money in this process, we have taken the new initiative. Currently, the tenant or landlord has to pay a stamp duty of 0.25% and a registration fee of Rs 1000 for real estate in an urban area. The cost of rural areas, rule 500, is the cost. Apart from these expenses, the tenant or landlord is not obliged to submit any other fees for the contract. Every year, four to five Lakh leases are registered in the state.

But as a rule, citizens tend to avoid the tedious registration process and save money. For this reason, the Land Government has to bear a loss of revenue. To avoid this, the finance department filed the mobile deposit of a contract proposal…