How To Register Rent Agreement In Noida
If you stay on rent in Noida, you might have come across an order from Gautam Buddh Nagar administration for registering the rent agreement, failing which a legal action will be taken against the tenant and the landlord. The order is valid for those living in rented accommodations, flat, houses and even those running a commercial business on leased land. It is a mandatory exercise for those with an agreement of more than one year. However, those with an agreement of less than one year need to pay the stamp duty.
How much stamp duty should be paid?
- Stamp duty for those with a rent agreement of less than one year is two per cent of the whole annual rent.
- Stamp duty for those with a rent agreement between one and five years is two per cent of three times the average annual rent.
- Stamp duty for those with a rent agreement between six and 10 years is two per cent of four times the annual average rent.
- Stamp duty for those with a rent agreement between 11 and 20 years is two per cent of five times the average annual rent
- Stamp duty for those with a rent agreement beyond 20 years is two per cent of six times the average annual rent.
Procedure to register the rent agreement
- Draft a rental agreement with desired clauses, security deposit clauses and rent. Get it printed on stamp paper of pre-discussed value.
- Sign at the designated places for tenants and landlords.
- Get the signature of two witnesses who are not related to the tenant or the landlord.
- Visit the sub-registrar office which is located in Noida Sector 33.
- Register the deed after paying the requisite stamp duty.
Documents required for rent agreement registration
- Original copy of proof of ownership or title to the property.
- Two passport size photos of landlord and tenant.
- Aadhar card is mandatory.
- A government issued ID proof- driving license, voter’s ID or passport.
- An authorisation letter from the company validating the person’s right to register the lease, in case the tenant is a registered company.