Stamp duty to be payable on leave and licence agreement

Riddhi Thakkar (Manager - Legal and Secretarial)   (121 Points)

10 May 2013  

 

I have a house in Mumbai to be let on Leave and Licence basis. My Queries are:

 

1) Whether the lease period may be more than 11 months?

 

2) What is the amount of stamp duty payable on it when the annual rent, including deposit and advance is less tahn Rs. 2.5 lacs?

 

3) Can the Agreement contain a renewal clause? If yes, what are its implications on payment of Stamp Duty?

Plz advice at th earliest.

 

Thanks and Regards

Riddhi Thakkar