Stamp duty to be payable on leave and licence agreement

 

I have a house in Mumbai to be let on Leave and Licence basis. My Queries are:

 

1) Whether the lease period may be more than 11 months?

 

2) What is the amount of stamp duty payable on it when the annual rent, including deposit and advance is less tahn Rs. 2.5 lacs?

 

3) Can the Agreement contain a renewal clause? If yes, what are its implications on payment of Stamp Duty?

Plz advice at th earliest.

 

Thanks and Regards

Riddhi Thakkar

A lease agreement involving an immovable property involving a value of more than Rs. 100 is compulsorily registrable.

The value for the purposes of stamp duty is the annual rental value (and not three years value).

The stamp duty will depend upon the State in which the immovable property is situated.Every 11 months can be renewed the same.