Lease agreement is an agreement in which two parties own and tenants mutually for the rental of real estate according to the rules and regulations pre-established by the Government of India. It is very important for the tenant and the owner of the property. As a general rule, stamp duty is paid on the basis of the duration of the contract, the amount of rent, the premium and/or any other form of rent and premium that can be fixed in the proposed tenancy agreement. The respective national governments of some Indian states have also set minimum circular rates. In these countries, either the specific rent set in the tenancy agreement or the minimum circular rates provided by the State Government, which will be much higher, will probably be paid by stamp duty. Once the contract has been concluded and signed and the lease is less than one year old, the document can be certified by the notary and, if the lease is more than one year, it must be registered with the local sub-registrar to make it enforceable in the event of a dispute. A registered lease retains more probative force than notarized. Under the Terms of registration Act 1908, it is mandatory for a tenant who pays more than 10,000 rent applications per month to register the document if the tenancy agreement is valid for a period of 12 months. Two per cent of the annual rent, or Rs 2,400, must be paid in the form of stamp duty. Noida tenants with a one- to five-year lease must pay two percent of the average annual rent triple as stamp duty to register the document. Those whose contracts are 6-10 years old must pay two per cent of the average annual rent. For tenancy contracts between the ages of 11 and 20, tenants must pay a stamp duty of 2% of the average annual rent, or 2% of the average annual rent. For the registration of tenancy agreements beyond this period, the tenant must pay two per cent of the average annual rent of 6% of the average rent.
In addition to registration and stamp duty, violators may be required to pay a fine of up to ten times the amount. In addition, since the execution of the lease, they must pay a fine of 18%. Leases could be registered with six sub-repertory in the city, three in Noida and one in Greater Noida, Jewar and Dadri.