It depends on value of rent and deposit on which stamp duty is decided
Can A lease deed be registered on Rs 500 stamp paper with a lock in of 3 years. can the 3 years lockin be valid on Rs 500 stamp paper. Enforceable And Legally Valid
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It would be valid if made along with 2 witnesses. Tge deed should be registered with the astt. Registrar.
Is a notarized Rs 500 stamp paer admissable by law for doing a 5 years lease with a 3 year lockin
What is security deposit being taken by you ?
2) stamp paper on lease deed would depend upon rentals and security deposit collected by you
3) Rs 500 stamp paper is not sufficient
For registration of lease deed stamp duty applicable shall be as per the Stamp act, it is calculated on basis on average yearly rent and security deposit.
Further if notarized lease on 500 stamp is valid.
1. Lease Deed Stamp duty is based on the value of the lease value and can be registered "ONLY BEFORE" the taluka registrar of sub-assurances.
2. A notarized lease deed is legally invalid, during dispute in court and is a legally non-enforceable document.
The lease agreement should be executed by a registered document and not just on a Rs. 500/- NJS paper.
Especially if the lease agreement is for a period beyond 12 months, it will attain its legal validity only if it is executed by a registered document by paying proper stamp duty as applicable for this purpose.
No, it cannot be enforceable in court of law and this cannot be considered as primary evidence in court of law when ther arises a dispute and referred before court for settlement
Lease deed more than 11 months, must be registered otherwise not admissible in evidence. If no possibility of dispute than notorise on rs. 500 stamp is fine.
- As per the Registeration Act, the registration of a Lease Deed is mandatory , if the leasing period is more than 12 months..
- Hence, lease deed with 3 years lockin on the Rs.500/-is not enforcable and legally valid.
- Even notarized Rs.500/- stamp paper is not admissible as per law. Only a registered lease deed beyond 12 months is legally enforceable and a valid document.
Yes you can register a lease deed on Rs 500 stamp paper.
It will be valid legally.
No notarized lease deed of 5 year will not be admissible until it is registered.
As per section 17 of Indian registration act its mandatory that all deeds exceeding for term more then 1 year has to be registered ; notarized has no validity in the eye of law unregistered lease deed is not enforceable in the eye of law!!