In Maharashtra, holiday and licensing contracts must be stamped with a flat rate of 0.25 per cent of the total rent for this period. If a non-refundable bond is also paid to the lessor, stamp duty will be levied at the same rate on these non-refundable bonds. After successfully paying the required fee, the applicant must book an appointment with the sub-registration. Arrival at the sub-registrar with the required printed documents ensures that the successful registration of the applicant`s property is done quickly. Section 52 of The Indian Easements Act, 1882, defines vacation and licensing agreements. This section states: “If a person grants another person or a number of other persons the right to do or continue to do something on or on the land of the funder who, in the absence of such a right, would be unlawful and such a right does not constitute relief or interest in the property, the right is qualified as a licence.” The registration of leave and licences is mandatory under Section 55 Maharashtra Rent Control Act, 1999 (MAH. ACT NR. 18 von 2000) (w.e.f. 31-3-2000) Section 55. The lease must be registered. 1. Notwithstanding the provisions of this Or other statutes, any leave and licensing or lease agreement between the lessor and the tenant or licensee is registered in writing and in accordance with the 1908 Registration Act, after the commencement of this Act. (2) Responsibility for the registration of such a contract rests with the lessor and, in the absence of the registered written agreement, the tenant has priority over the conditions under which the landlord gave or was transferred to him a property on holiday and in license, unless there is evidence to the contrary.
3. Any lessor who violates the provisions of this section is liable to a prison sentence of 3 months or a maximum fine of $5,000 or both if convicted. In the Maharashtra State License, which was ruled by the Indian Easement Act, in 1882. Section 52. “Licence” is defined as: when a person grants another person or a number of other persons the right to do or do something on or on the land of the funder who, in the absence of such a right, would be unlawful and such a right does not constitute relief or interest in the property, the right is qualified as a licence. Note: The rental of a property on vacation and basic license does not allow any interest in the premises on the part of the licensee and fulfills certain rights of simple use and occupancy or enjoyment of a residential or commercial property for a limited time. 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). 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.
2. The registration fee is 1000 ru./- if your property is the responsibility of the company and the Rs. 500/- if the property is located in rural areas. In order to reduce the impact of stamp duty, people paid a substantial amount as an interest-free surety, as well as nominal rent. This gap has been filled and, in cases where a refundable deposit is recovered by the owner, a fictitious annual rate of 10% is set on an interest-free deposit and you must pay stamp duty at the same rate for each year of the term of the licence agreement.