With changing times, the demand of rental accommodations has increased manifold and especially in urban sectors, not just the residential premises but commercial properties as well. For getting any property on rent, there needs to be some terms and conditions agreed between the owner of the property i.e. landlord and the person who is taking the property on rent i.e. tenant. These terms and conditions mentioned in any agreement for purposes of rent is considered as Rental Agreement and it is binding on both the parties. But there are certain agreements which are required to be Registered yet some may not be compulsorily registered but would it effect the validity of such documents? The answer can be Yes or No depending upon the tenure of the agreement and irrespective of registration, agreement is made on stamp paper. The video gives explanation of the legality of such rental agreements.

WHAT RENT AGREEMENTS ARE COMPULSORILY REQUIRED TO BE REGISETRED?

Any immovable property given on rent from year to year or any term beyond one year is compulsorily required to be registered as per S. 17 of the Registration Act, 1908. Such rental agreements are required to be properly stamped. Stamp Duty differs from State to State and it also depends upon the tenure of the rental agreement between the parties.

NOTARISATION OF RENT AGREEMENT

A notarization of any agreement is done by the Notary Public appointed by the government. If any rental agreement is of a period less than one year then it is necessary to get the same notarised. Such attestation gives authenticity to a properly stamped document.

IMPORTANCE OF STAMP PAPER FOR RENT AGREEMENTS

If the Rent Agreement is properly stamped, the tenant will be able to obtain telephone connection on its name, book a gas, claim HRA from its company, etc. Because in mostly all places, the proof of rental address is required to be submitted and it will not be a valid proof if the Rent Agreement is not stamped. Furthermore, if the Rent Agreement is not stamped and registered for agreements beyond a period of one year, a heavy penalty may be imposed on the parties.

Thus, it is necessary for the rent agreements to be properly stamped for it to have any legal validity and if beyond a period of one year, the same should be registered under the respective State laws or notarized from a Notary as appointed by the Government.

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