Rent Agreement

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Rent Agreement A rent agreement for 11 months or less does not need registration. Usually, such an agreement is valid once stamp worth Rs 100 is paid (get it affixed it to this document) and the document is notarized. For a document longer than 11 months it needs to be registered and stamp duty is higher. Stamp duty in Delhi is payable at 2% of the average annual rent in the case of lease agreements for a term up to 5 years and at 3% of the average annual rent in case of agreements for a term greater than 5 years, but up to 10 years. This is followed by the registration at Sub Registrar's office where one needs to go along with carrying the original deed of the property, the agreement, identification proof of both the parties. The stamp duty varies from state to state and it is advised to check the appropriate stamp duty in your state.