Online Rent Agreement in Delhi
The Capital City, Delhi, is one of the most popular cities, where people migrate either for work or for studies. New Delhi - the name every Indian reckons with, is the center of power and Powerful people. Such is the reputation Delhi has gained that everyone who comes to Delhi fulfills his or her dream and gets better off in life. You may not become Powerful, but you will build an alliance with Powerful people and look as powerful as the powerful are.
Here is the single main reason why million-plus people look up to New Delhi and start leading towards the national capital region. At the onset, it seems living a dream is everyone cuppa coffee. However, looking at the scenario on the streets at night with homeless people. The interjections seem Obvious. So, below are some generic or rather the most basic process for online rent agreement in Delhi.
Procedure to Make A Notarized Rental Agreement in Delhi
- The first step is to draft the Rental Agreement
- The second step is to get the Agreement printed on a stamp paper of due value. The value depends on the city/ the type of Agreements.
- The Owner and the Tenant both the parties should sign the agreement in the presence of two witnesses – it is a mandatory step
- Also, you need to register the rent contracts at the sub-Registrar office pay the appropriate registration fees.
Drafting the registration of rent agreement in Delhi
Most of the time, people are just aware of initial and generic procedures. What will interest you are the clauses, how a rent agreement registration in Delhi is drafted. Below, we have jotted down points that will let you know the steps involved in drafting an agreement. So, to Draft the rental Agreements, you need to do the following:
- It is essential to that you speak about the important matters like the amount of rent to be paid and also the security deposit, the maintenance charges, etc.
- You need to prepare a rough Draft with details like names of parties involved and address of the property mentioned (The permanent address)
- If you have any additional yet important clauses to the document – you need to make sure it added in the Rental Agreement.
- You need to be aware that it is Important to purchase stamp paper of the recommended value print your Draft on the stamp paper. Alternatively, you can use our rent agreement service in Delhi provided by a lot of sites. They will do it all for you.
- Place signatures of both tenants and landlord, in the presence of two witnesses.
- Lastly, you need to register the deed at the local Sub-Registrar Office.
Is Notarization required of rental agreement in Delhi?
Some people when it comes to rent agreement they prefer to go for notarization of the Rental Agreement in Delhi. But few are aware that Notarization is no registration. Therefore, a Notarized rental deed is not to be considered for a registered Deed. To let you know about it, the courts do not accept them as evidence in disputes. So, you should be aware of this fact that if at all any time any disputes arise, you cannot show notarized paper as proof. They would not be any help to you. Notarization of the deed does not adhere the paper to be registered.
The reason for Notarization by many Stamp Vendors is that the unregistered document will be considered a legal address proof with Notary seal. But there is no legislation to state so. Notary seal in soft and simple words states that you have attested it in front of a Notary Public that is it. You still need to get an agreement for a complete verification or a legal purpose.
Types of e rent agreement Delhi Commonly Used
There are two ways of registering the rent agreement Delhi stamp paper. We will explain both to you in elaborate detail. So, before we jump on to any conclusion as to which one you should prefer, let us begin with the research. These points will make you aware of which one to Choose- plus. You will have better clarification on the choices you make.
- The duration for rentals is for 11 months mostly, with the provision to renew at the end of the 11th month. (all depending on the Owners and tenant discussion)
- The tenants must pay a rent amount that has been decided– this should be pre-decided between the Owners and the Tenants. In addition to that, electricity and water charges are also to be paid.
- Maintenance charges along with the rent is also charged, which is also to-be-paid for cleaning the common amenities and maintaining the premises.
Long Term Lease
Now, in Delhi, there are a lot of times when you might think of opting for a long-term lease. Now, before you think of it on someone else say, you must know about the long-term lease as a term and its uses, apart from these usual renting process, there is yet another mode of Renting which is known as on a long-term Lease – This goes on for a certain number of years. Tell you in-depth, No monthly rent payable by the tenants. At the end of the lease term, the Owner must return the lease amount to the tenants – you can say it like a deposit in the regular rental agreement. Electricity, water, and maintenance charges and other miscellaneous charges must be paid regularly by the tenants. There is no interest paid on the lease amount – even if you thought it.
Commercial Rental Lease
The usual Rental Agreement in Delhi, there is a different process for the commercial rental lease – maybe just in the use of the term.
The procedure of registration along with the Stamp Duty is the same as residential properties for renting of the Commercial properties also. So, here we bring to you
the registration of the lease/rental deed in Delhi has a Certain procedure that
needs to be followed by all.
Procedure for registration of rent agreement in Delhi
There are two ways of registering the rental agreement. We will explain both to you in
elaborate detail. So, before we jump on to any conclusion as to which one you should prefer, let us begin with the research. These points will make you aware of which one to choose, plus you will have better clarification on the choices you make. So, here we bring to you the registration of the e stamp paper for rent agreement in Delhi has a specific procedure that needs to be followed by all.
Stamp Duty & Registration
What our Basic thought the process is to ask the vendor or the broker to get us personnel who would get us the paperwork. However, it is also significant to know for oneself that what are the necessity? Stamp Duty, as per the definition, is the duty paid to the Government whenever an agreement or transaction is created. Stamp Duty is calculated based on the value of the
Transactions. It Pays to the Government by purchasing Stamp paper of Due Value.
There are two kinds of Stamp papers: the traditional Stamp paper and the e-Stamp paper.
Registration Rent Lease Agreement
Charges related to registration:
- For a lease up to 4 years, the registration charge is going to cost a total of 2% of the total
average of the annual rent plus Rs.100 of security deposit. For 5-10 Years, are the rate increases to 5% of the average yearly rent for ten years and more. It will cost about 10% on twice the amount of average annual rent.
- A Demand Draft (DD) of Rs.1100 needs to take for the Registration charges.
Documents to be presented by the Owner for registration:
- The tenant needs to submit a legal and original proof of the ownership or entitle to the property, that is being on rent
- It is mandatory to bring two passport size photos of the owner
- As per the documents point of view, the Aadhar card is yet another mandatory one
- Speaking about the ID proof you can get along the driving license, Voter ID, passport, etc.
- One of the basic documents is the rental agreement that is printed on the Stamp paper
- Lastly, the demand draft of Rs.1100 towards registration charges is what you need to get in terms of fees
Documents to be presented by the Tenants for registration:
- You need to get along 2 passport size photos, this is mandatory for the tenants as well
- Now, when the person is of the Indian nationality, he needs to bring along his Aadhar card or the receipt received while applying for it. Also, if the person is a foreigner, then the original passport is a mandatory document.
- Sometimes it happens that the Tenant is the company, then the one person who is coming for the registration, then they should bring aboard an authorization letter from the company that mentions the person in the right light. Also, the document should have the stamp of the company.
- Several times this happens that the person represents another person for the registration, in this case the the Power of Attorney deed should be brought
Sample Rent Agreement PDF
Sample Rent Agreement Draft