In order to reduce costs, tenants and landlords sometimes agree orally on the lease and avoid the execution of a tenancy agreement. At one point, they also document the agreement and set the terms of the lease, but decide not to register the document. This is due to the fact that both parties must pay a registration fee when a lease is entered into and registered. The lessor is also required to declare his rental income as soon as the lease is final. However, entering into a non-registration lease is illegal and could be a risky transaction for both parties, particularly in the event of future litigation. Stamp duty Tax is paid to the government when an agreement or transaction is established. Stamp duty is calculated from the value of the booking. He is paid to the Tamilnadu government by purchasing stamp paper of exceptional value. The omission of certain important clauses in your tenancy agreement leads to unpleasant legal conflicts in the event of disagreement between the tenant and the landlord. Even if the two parties know each other, the ideal is to reach a comprehensive agreement to turn your back. If you opt for a rental period of less than 11 months, you can use a 20-100 Rs stamp paper. Although, as mentioned above, this type of lease is recognized in the legal corridors.

In the event of disagreement in the future, the lease will be a priority of the legal fight. However, there are other factors that, if left unless, can cause greater problems. Here are a few things you should keep in mind - Under the provisions of the 2019 Standard Rent Bill, landlords cannot apply a pre-fixed rent increase for the entire period for which a lease has been signed. For example, when the lease expires after 11 months, the lessor cannot increase the monthly rent during that period. It is only at the expiry of this period and the date of registration of the new lease that the lessor is legally entitled to proceed with an increase in the rate that does not generally exceed 10% of the existing amount. In addition, the landlord must give the tenant three months` notice before increasing the rent under the bill. This may seem like a big problem, but you can now use online rental services. LegalDesk offers a ready-to-use, verified online rental contract. You can use it to create a chord in minutes. However, the Tamil Nadu government introduced the new rules under the Tamil Nadu Regulation of Rights and Responsibilities of Landlords and Tenants Act, 2017, which makes it mandatory to register leases in the state. To design the lease in Chennai, you also need to do the following See also: Compromise clause in leases and how it can help landlords and tenants Click here to check the format of a rental agreement in English.

Until a lease is registered at the shelter, it has no validity. It is in favour of both parties to draw up an agreement with certain conditions and to register it. After the lease is written, the owner should print it on stamp paper. As soon as the tenant and landlord sign the documents in the presence of two witnesses, they must report them to the sub-registry service after payment of the necessary fees. You can also get the format of the lease agreement from these suppliers and have it printed along the stamped paper. All you need is to ensure certain points that need to be in the agreement. In addition, you must also specify the specific details of your property and transaction. Number of occupants: The agreement must indicate what happens if your family members come to see you in the future. Caution and amount of chips: The contract must clearly state the deposit and what happens to it when you leave the premises.

It should also mention the symbolic amount that the owner received from you.