The lease is a key document that aims to establish a transparent transaction between the landlord and the tenant. Under the Registration Act 1908, the lease must be registered for 11 months to the deputy chancellor`s body in the district concerned. I am a tenant for the last 16 years and our lease is concluded in 2003, we (I owner) need to make a new agreement and it must register. In accordance with the official notification of the rules of the Tamil Nadu Regulation of Rights and Responsibilities of Landlords and Tenants Act 2017, the government has developed a portal (www.tenancy.tn.gov.in) and will generate rental registration numbers for each agreement between a landlord and a tenant. The scheme will come into effect on February 22, 2019 and from it. The omission of certain important clauses in your tenancy agreement leads to unpleasant legal conflicts in the event of disagreement between the tenant and the landlord. Even if the two parties know each other, the ideal is to reach a comprehensive agreement to turn your back. The penalty for late payments – In most cases, landlords are free to fine late rents. The details of these sanctions must be clearly stated. Yes, all leases must be marked in accordance with section 35 of the Indian Stamp Act, 1899. Token Advance – Token Advance refers to a small amount of money that the tenant paid to the landlord before signing the rent. The idea is to prevent the owner from preventing other potential tenants from developing an interest in the property.

Once the token advance is paid, the agreement is considered final. When one party decides to retract, it is required to compensate for the losses incurred by another party. In accordance with Section 35 of the Indian Stamp Act, 1899 [Amended Empty Tamil Nadu Act 31 of 2004], stamp duty is, the lease is payable, including a sublease contract, as shown in the table below: a. If the term of tenancy/rent is less than thirty years A rupee is payable for each 100 R or part of the amount of rent, fine, premium or advance, if it exists; B. The term of ten years is thirty years and more than ninety years for every 100 Rs. or part of the amount of rent, fine, premium or advance, if any, payable; c. If the rental/rental period is more than ninety-nine years, seven rupees for every 100 million euros; or part of the advance rent, fine, premium or advance, if any, the tax on the rent does not exceed 20 rupees in any case, with the stamp of value required for a tenancy agreement and the subsequent execution of a rental contract. Chennai, the proud and thriving capital of Tamil Nadu, is the centre of the main government buildings of the British era, Marina Beach, the famous restaurants of southern India.