Rent Agreement in Delhi
There must be a legal document between the tenant and landlord that clearly explains details like rental amount, lease period for one year or otherwise, as well as other requirements of both parties. The landlord and tenant need to read the rent agreement properly, so both should not have any confusion or misunderstandings in future. It commonly covers things like security money deposits, maintenance costs, and other rules regarding pets, smoking, drinking, etc. At the sub registrar’s office, it is advisable to register your agreement for the protection of the rights and responsibilities of both the Landlord and the Tenant.
Cost of Registering Rent Agreement in Delhi
When renting in Delhi, registering a tenancy agreement is essential for future benefits. Sometimes, landlords and tenants resolve issues smoothly through a contractual document, incurring a cost.
Rental Period:
less than 5 years
5 to 10 years
10 to 20 years
Stamp Duty (% of Consideration Value):
Less than 5 years: 2%
5 – 10 years: 5%
10–20 years: 5% of the double value of consideration
Registration Charges:
Rs. 1,100 for all rental periods
Process of Registering Rent Agreement in Delhi
To print the Tenancy agreement, use the required value of stamp paper.
At the sub registrar's office, both the Landlord and Tenant must sign the rent agreement in the presence of at least two witnesses
For Agreement registration, both parties must complete all the necessary procedures and pay the required fees at the sub-registrar’s Office.
How do Draft the Rent Agreement Document?
The parties must clearly state the important things, like the monthly rent, security deposit, maintenance charges, and any other terms and conditions in the rental agreement.
Both parties must have mutual consent to the agreement regarding all the points mentioned in the contract.
The agreement must contain the name of the Tenant and the property address.
It is important to mention the notice period for the tenant to vacate the property.
The Agreement must have clarity and comprehensibility.
Purchase stamp paper of the recommended value to print the draft once all details are filled in.
Go to the Sub-Registrar Office (SRO) to register the document, following the provided instructions.
Procedure for E-Stamping the Rent Agreement in Delhi
By visiting the Stock Holding Corporation of India Limited (SHCIL) website, you can easily e-stamp your tenancy agreement in Delhi. After visiting the website, select the e-stamping option, and then follow the step-by-step instructions to complete the process. Before applying for e-stamping, you must have prepared all the necessary documents and information. Before submitting the agreement, it is important to review all the details carefully so that you can prevent any future delays or mistakes. Alternatively, if you prefer, you can purchase physical stamp paper online or from the nearest SHCIL branch or designated bank offices.
Documents Required for Rent Agreement in Delhi
The rent agreement is important as it states all the terms and conditions for the tenancy, which include rent and other usage property rules.
Reviewing the rental agreement by both the landlord and the tenant before signing is important to avoid any future misunderstandings or disputes. Below is a list of the documents that are necessary for registering a tenancy agreement:
Evidence of the ownership of the property (such as a sale deed, registration document, or any tax receipt for the property).
Passport-size photos of both the landlord and the tenant.
If the lease is registered under the Company’s Name, an authorisation letter from the company is necessary.
Property address proof for registration purposes.
Tenant’s address proof and photo ID (Original passport required for foreign nationals).
Property owner’s address proof and photo ID.
Demand Draft for the registration fee.
Two witnesses, each providing their photo ID proofs.
Rent Agreement Format for Delhi
RENT AGREEMENT
This Rent (“Agreement”) is made on [Date], between:
Landlord: [Name], residing at [Address]
Tenant: [Name], residing at [Address]
Property Address: [Address of the rented property]
Terms and Conditions:
Lease Term: [Length of lease]
Rent: The Tenant has to pay the monthly rent of [Amount], which is payable in advance on or before the _____ day of each calendar month.
("Security Deposit"): with the landlord, which shall be refundable at the expiration date or after determination of the agreement.
Maintenance Charges: The tenant has the responsibility to pay the maintenance charges, including any additional charges, as per mutual agreement.
Notice Period: The tenant has to serve the notice period of the days [ number of days] before leaving the premises.
Use of Property: The tenant only uses the premises for residential purposes and not for any other reasons without prior written consent from the landlord.
Utilities: The tenant must pay the payment of utilities [ such as electricity, water, and pipe lines] during the tenancy period.
Repairs and Maintenance: The landlord is responsible for any repairs and structural maintenance.
Termination: This rent agreement may be terminated by either party by giving written notice to the other party.
In witness whereof, the parties hereto have executed this agreement on the day and the year first above written.
Landlord:
(Signature)
Tenant:
(Signature)
Witness 1:
(Name and Signature)
Witness 2:
(Name and Signature)
Conclusion
By registering your rent agreement in Delhi, both parties safeguard against future losses. As the contract is enforceable by law, it safeguards both the Landlord and the Tenant. Failing to register may cause disputes or challenges in upholding the agreement terms.
eStartIndia will help you to draft a Rent Agreement from the comfort of your home.
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