Uttar Pradesh: Now the rent agreement will also be registered… only the terms written on the registered agreement will be legally valid

Now the rent agreement will also be registered in Uttar Pradesh. Only the conditions written on the registered agreement will be legally valid. The claim in the court will also be made only on the registered agreement. The registration of rent agreement will be encouraged to protect the property. For this, the stamp duty will be kept very low. The minimum stamp duty on rent agreements for more than one year will be from Rs 500 to a maximum of Rs 20,000. Along with this, only the conditions written in the registered agreement will be legally valid, on which a claim can be made in the court. A proposal related to this will be presented in the cabinet soon.

By registering the lease, the interest of both the landlord and the tenant will be protected. After registration, only the conditions written in the agreement will have legal recognition.

Only the conditions written on the registered agreement will be legally valid

Actually, due to the high stamp duty in the rent agreement, very few people get it done. Most people make a rent agreement on a stamp of Rs 100, which has no legal claim.

According to the data of the Stamp and Registration Department, only 86 thousand rent agreements have been made in the state in a year, whereas the number of people giving houses, shops and offices on rent would be in lakhs.

Along with the proposal to simplify and reduce the rules of stamp duty, a separate portal will be created for those with agreements up to one year. There will be a fixed format on the portal, which can be downloaded and printed. By pasting this format on the stamp, it will get legal form. If the rent agreement is not registered, you will not be able to fight the case. You will not be able to prove your rights. Only the conditions written on the agreement will be valid. Claims will be made only on them.

Provisions in the current Rent Agreement Act

• 2% stamp duty on rent for 1 year rent agreement
• 2% fee on rent for 3 years on rent for 5 years
• 2% stamp duty on rent for 4 years on rent for 10 years
• 2% stamp duty on rent for 5 years on rent for 20 years
• 2% stamp duty on rent for 6 years on rent for 30 years
• 7% stamp duty on rent agreement for more than 30 years like a deed

Rules for rent agreement after cabinet approval

• 2% stamp duty on rent for up to one year
• Only Rs 500 stamp duty on rent for up to Rs 2 lakh
• Only Rs 5000 stamp duty on rent for up to Rs 5 lakh
• Only Rs 20000 stamp duty on rent for Rs 1 crore or more

Women will get stamp exemption on property worth up to Rs 1 crore

Women’s share in property The state government is preparing to give a big gift to increase rights. On registering a property worth up to one crore rupees in the name of a woman, one percent stamp duty discount will be given. This limit is currently on property up to Rs 10 lakh. Soon this proposal will be presented in the cabinet.

Stamp and Registration Minister Ravindra Jaiswal said that the state government is sensitive towards women empowerment. Under this, a proposal is being prepared to give discount to women on property worth one crore. One percent discount is given in stamp duty on registration in the name of a woman.

Maximum discount of Rs 10 thousand

Under the current proposal, if a property is worth Rs 1 crore, then on registering in the name of a woman, there is a provision of 7 percent stamp duty on 90 lakh and 6 percent stamp duty on 10 lakh. That is, a maximum discount of Rs 10 thousand is available.

Stamp duty will be 6% instead of 7%

After the proposal is passed by the cabinet, on registration of property worth one crore, stamp duty will be 6% instead of 7%. In this way, there will be a maximum benefit of one lakh rupees. In the last budget, the central government had made a provision of spending on decisions taken regarding women’s welfare.

It is expected that a part of the revenue amount can be obtained by giving one percent discount on property up to one crore. Earlier, property worth about 4 lakh crore rupees was registered in the name of women through gift deed for only five thousand rupees.