On the other hand, leases or licenses are concluded for a period of 11 months, with the possibility of renewing the contract after the expiry of the contract. As an 11-month lease is only a license for the tenant to occupy the premises for a short term. As a result, most states are not subject to rent control laws. In addition, 11-month leases allow the landlord to take more action in the event of the tenant`s evacuation of the property. As a result, most lenders prefer to enter into an 11-month lease, with the option of extending the term of the contract at the end of the contract. Although this is not very common, people could be trapped by participating in a rental transaction. Cases of janitors identifying themselves as landlords, giving the house to several tenants, etc. are some of these incidents. To avoid potential scammers, here are a few things, what you could do – The rental notary can be done on 100 R of buffer paper as well as on 500 rupees of buffer paper, but the buffer paper may vary depending on the rent, which means that if the rent is under Rs 15000, then we can use 100 rupees of buffer paper and if the rent on Rs 15000 then we have to use 500 Ruppapier paper.
You can use our computer to calculate fees on a case-by-case basis. One of the most common features of entering into a real estate rental transaction in India is the prevalence of 11-month leases or licensing agreements. An 11-month period is preferred by most lenders, while they are renting real estate, since there are two types of agreements relating to the rental of real estate in India, the lease and the withdrawal and licensing contract. The notarized lease is concluded under the direction of a “public official” or a “notary” who authenticates the document. For a property, a notarized lease is entered into by the tenant or landlord. At the end of 2012, West Bengal introduced e-stamping facilities in 10 centres around Calcutta. However, the state still has to move entirely to the electronic stamping system. This means that, at present, electric paper and traditional stamp paper are still totally dependent on traditional stamp paper in small towns.