Our trained leader will visit your front door to provide a service, log-in execution agreement and fill out an online form. Click here to register. Your draft contract will be drawn up automatically. You can add additional clauses if necessary. 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. 10% x refundable deposit x Number of contract years – C For contract registration, you need some basic documents from the tenant, landlord and witnesses, like. For example, a passport-sized photo, a photocopy of proof of identity (p.B PAN card) and an electricity bill or real estate document such as the index II or the receipt of taxes on the rented property. Prison sentence of three months or no more than `5000/- or both. NPST an “Authorized Service Provider” selected by the Department of Registration and Stamps, the Maharashtra government for the provision of online rental service has taken a step forward to reach citizens, raise awareness and provide a service at their comfortable time and place. We used modern technology to create phone reach and web service for a simple transaction for citizens. Housing.com has launched a fully digital, contactless service to create leases. If you want to complete the formalities quickly and without any problems, you just have to fill out the details, create the online rental contract, sign the contract digitally and get an electronic stamp in seconds.
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.