You have to pay fresh stamp duty and registration charges
I am amending my current duly stamped and registered rent agreement with the lessee. This entails a reduction in area and rent proceeds due to an economic slowdown because of Covid. There will be some other changes like access gates, access areas, etc. Do I need to pay fresh stamp duty and registration fee for this MoU? The current rent agreement was signed for 5 years and 3 years only have elapsed.
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Since the validity of Rent Agreement is still subsisting for another 2 years, there will be no need to pay fresh stamp duty and Registration fee for the MOU. Only if there's change in the Lessor and/or Lessee, you need to pay fresh stamp duty and registration charges.
Dear Sir/Madam,
It is suggested that you can do the said amendments on the stamp paper of Rs. 200/- only.
You can execute a rectification rental agreement, however whether it will be effective after three years of original deed's execution is to be enquired from the registrar's office.
Alternately you can execute a supplementary rental agreement by an unregistered deed incorporating the changes you desire to have it now.
Or you can mutually cancel the original rental agreement and enter into a fresh rental agreement but you may have to pay the stamp duty afresh accordingly.
- Since, the current agreement was signed for 5 years , then you cannot registered or rectified the same agreement on the condition of rectifying the same.
- However, you can execute Supplementary rent agreement after mentioning the details as you mentioned above.
- Otherwise , you can cancel the current rent agreement mutually , and registered a fresh one.