๐ท๏ธ If a rental agreement is set out for a period of 12 months or more it needs to be registered in the sub-registrarโs office by paying the Stamp Duty charges
๐ท๏ธ To avoid the lengthy Process & Cost, most people go in for an 11-month agreement which is the difference between having the agreement “Registered” and having a document that is recognised by law in the form of “E-Stamp Paper”
๐ ๐ช๐ต๐ฎ๐ ๐๐ผ๐ฒ๐ ๐๐ฎ๐ ๐ฆ๐ฝ๐ฒ๐ฎ๐ธ ๐ฎ๐ฏ๐ผ๐๐ ๐๐ต๐ถ๐ ๐ฆ๐๐ฏ๐ท๐ฒ๐ฐ๐?
๐ Section 107 of the Transfer of Property Act says:
โก๏ธ โA lease of immovable property from year to year, or for any term exceeding one year or reserving a yearly rent, can be made only by a registered instrument.โ
โก๏ธ โAll other leases of immovable property may be made either by a registered instrument or by oral agreement accompanied by delivery of possession.โ
๐ Section 49 of the Act also says:
โก๏ธ Unless a document requiring registration is not registered, then it cannot โbe received as evidence of any transaction affecting such property.โ
Disclaimer: Sharing my view as Realtor, feel free to share your thoughts