As I know, there has been a significant increase in the stamp paper value for rent agreement in Kerala. Besides requiring registration for all leases and rent agreements, even short-term ones, the new rules also drastically raise the stamp duty on these contracts. The value depends on the agreement length.
What is the Rent Agreement Stamp Paper Value in Kerala?
In Kerala, the stamp duty for a rent agreement depends on the annual rent or the fair market value of the property, whichever is higher. For agreements up to 11 months, the stamp duty is typically INR 500. I would suggest you better check from the officials.
Let me share how you can calculate stamp duty for rental agreements in Kerala. In Kerala, the stamp duty for a rent agreement is determined based on the duration and rental amount:
For agreements up to 11 months: The stamp duty is typically INR 500.
For agreements beyond 11 months: The stamp duty is 8% of the annual rent or the fair market value of the property, whichever is higher.
To calculate the stamp duty:
Annual Rent Calculation: Multiply the monthly rent by 12 to get the annual rent.
Stamp Duty Calculation: Calculate 8% of the annual rent.
I hope you understand the rent agreement stamp paper value Kerala.
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Wondering what is stamp paper value for rent agreement in Kerala? For rent agreements in Kerala, the stamp duty varies based on the duration of the agreement. Scroll down to know more.
What is Rent Agreement Stamp Paper Value Kerala?
The agreements for a period of less than 11 months in Kerala is Rs 100. Moreover, the agreement for a period of 11 months or more is Rs 200.
It is essential to use eStamp paper or physically stamped paper to make the agreement legally valid. A rent agreement not registered on stamp paper may not be admissible as evidence in court.
Let’s check out the provisions of the Kerala Buildings (Lease and Rent Control) Act, 1965:
This Act regulates leasing of buildings and controls rent in Kerala.
Key provisions include:
Determination of fair rent.
Tenant’s right to deposit rent.
Eviction procedures.
Landlord’s responsibilities regarding amenities.
Court orders binding on sub-tenants.
Penalties for non-compliance.
The Act aims to strike a balance between landlord and tenant rights, ensuring fair practices in property leasing and rent control.
I hope this helps you understand the rent agreement stamp paper value in Kerala.
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What is Stamp Paper Value for Rent Agreement in Kerala?
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2024-06-11T16:13:37+00:00 2024-06-25T11:00:06+00:00Comment
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