Finding a home many times end up people with lots of dissatisfaction and disappointment. Lack of right guidance leads them to fake intention people life brokers and fraud agents; which not only cost them expensive but put them in terrific situations with lots of efforts and time go wasted. During the last some years greater Noida has put itself in front of many cities with proving the best most developed townships and the city with lots of amenities and various modern lifestyle. Greater Noida has grounded many domestic and international companies also giving decent shelter to many immigrants moving in search of jobs. Greater Noida is full of many job opportunities also a hub for many businesses. These top companies include - Agreeya Solutions, TCS, Adobe Systems, Interra, HCL, and more. Now you could be one thinking to move on in Greater Noida, in such case you must be aware of Rent Agreement. If not, we are mentioning each and every detail about the Rent Agreement in Greater Noida:
Registration of rental agreement ensures a smooth flow of staying conditions, a document that is registered by or with an official by fulfilling all legal formalities. Here provide the following benefits below:
The security deposit is also called a Caution Deposit, which is also a roundabout amount collected from the Tenants before moving in. The is a backup amount kept for damages. Also, that is put by the tenant for which he/she may refuse to pay the amount or non-payment of rent. For avoiding the wasteful hassle, the security amount is actually is fully refundable to the tenants at the time of returning the key. This is the fact to take care of that every city has a different procedure. So, even if you are in Greater Noida these procedures will differ from Delhi. Let us discuss more the Rent Agreement in Greater Noida.
If it is about charges, there is not any in the 11-month rental agreement registration. You can increase even the rent agreement once the previous over. However, it Completely depends on the agreement between the tenant and the owner.
The stamp duty is the tax, In UP, since Greater Noida falls under UP jurisdiction, the Stamp Duty charges for Greater Noida rent agreement are 4% of deposit plus annual rent. Now if any case if stamp duty is not paid and any other kind of dispute arises the court may sentence the tenant to pay ten times the Original Stamp Duty as a punishment.
First, you will need a rent agreement service provider in Greater Noida with the clauses that are preferred by you that mention the crucial details. These details are the security amount, rent amount, the term of the stay, and the other essential ones. The next step is to get the stamp paper printed, of the corresponding value. Now, both tenants and landlords need to sign it off including the two witnesses. When both the parties have duly signed it off the agreement and the witnesses, you are demanded to visit the sub-registrar office located in the Noida Sector 33. Now, the sooner you pay the stamp duty the sooner the registration will be completed.