The basic framework for stamp duty is defined in the Indian Stamp Act of 1899, which allows states to change the same rules according to their needs. As a result, the Maharashtra government passed the Bombay Stamp Act in 1958. The payment of stamp duty on leave and licensing agreements are covered by Section 36A of the Bombay Stamp Act of 1958. Under Section 17 of the Indian Registration Act, which applies to all of India, any real estate lease agreement must be registered from year to year or for a period of more than one year. Therefore, unless otherwise required by national law, any leave and licence contract must be registered for a period of 12 months or more. If you buy a resale apartment with bank credit, can you make a sales file rather than a transfer file? The transfer of the property law governs the transfer of ownership by all means in India. Real estate can be transferred by sale, mortgage, exchange, leasing or gift. All these real estate transactions are subject to the law on the transfer of ownership. By law, a sale is the transfer of ownership of the property for a price paid or payable. Any sale of real estate can only be made by a written and registered instrument, such as the deed of sale.
In the case of the execution of a title transfer of ownership, the delivery of the property is made when the seller places the buyer in possession of the property for the settlement of the sale of the land. It is important to note that an agreement on the sale of real estate is not limited to the sale of real estate, as it does not in itself create any interest in the property or a tax on the property. The registration process is usually quick if you have all the right documents on site. The necessary documentation to stimulate the registration process is: visit this link – ecounsel.in/online-download-index-ii-2-registered-agreement-sale-deed/ My owner says that he cannot agree, since the project received the certificate of completion more than a year ago… Is it there? I have already paid the stamp duty – the registration fee of 2.59,900 in agreement for the sale bought on the resale apartment, but the bank wants to be sold. My lump sum cost is 38.20,000/- market value – 36.16,000, which will be the fee I will have to pay for the execution of sales. The Flat welcomes you to Grampanchayat. 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. When preparing real estate contracts, you take into account certain fundamental points. This will help you not only to guarantee the validity of an agreement, but also to save time and avoid unwanted delays on the part of the seller. Here are some tips to help you ensure the validity of your property. To register the contract, you will need some basic documents from the tenant, landlord and witnesses, such as a passport-sized photo. B, a photocopy of proof of identity (for example. B PAN card) and the electricity bill or real estate document such as index II or receipt of taxes from the property that is rented. Hello Sir, We buy properties in Pradhikaran estate. Could you clear up my doubts? 1) The seller, the seller`s lawyer and the seller`s bank ask us to make the sale-deise instead of the sales contract. I want to know its pros and cons.
(Please note that the seller`s loan on this property taken by a bank. Buyers also plan to borrow from the same bank. Therefore, I defined the term «seller bank» in the statement above) 2) Real estate sale value is: 74 Lakh, So, If we mention 52 Lakh for sale, then what are the pros and cons…. Read more » In Maharashtra, holiday and licensing contracts must be stamped with a package of 0.25 per cent of the total rent for this period.