Stamp duty due in the state of Gujarat is governed by the Gujarat State Stamp Act of 1958, based on the Bombay Stamp Act of 1958. Suppose Anand Patel bought a property for 86.75 Rs in Gujarat. The stamp duty he must pay is Rs 4.25,075. Once the contract has been concluded and signed and the lease is less than one year old, the document can be certified by the notary and, if the lease is more than one year, it must be registered with the local sub-registrar to make it enforceable in the event of a dispute. A registered lease retains more probative force than notarized. In accordance with Section 17 of the Registration Act 1908, it is mandatory to register a lease agreement, Section 17(1)) (d) from one year to the next or for a period of more than one year or for the booking of an annual rent; Stamp duty and registration fees in West Bengal. In Gujarat: How much can a rental contract be written on stamp paper? The value of the stamp tax is printed after payment of the tax imposed on stamp paper or electronic stamp paper. Stamp documents have different stamp values and any type of document/document must be executed on a stamp paper of a required value. The value of the stamp varies from region to region and depending on the value of the deed or transaction executed. Office space leases are provided for the rental or rental of commercial buildings. It`s legal… Therefore, if you are looking for or living in a rented house, apartment or house, you must register the same thing and stamp duty must be paid for it.
Here is a table with stamp duty rates in Gujarat for various documents and agreements. LegalDesk.com is a well-established legal technology service provider of contract projects and related services for individuals and businesses in India. Get project leases, wills, partnership contracts, gift certificates, proxy documents, sworn insurance, etc. for electronic stamping and incorporation services, LegalDesk.com has covered you. In addition, “notary” refers to a person appointed as such under the Notaries Act 1952 and entitled to notarize the document. Although not all agreements are widely authenticated, it is generally recommended for long-term and commercial agreements, because if involved in litigation, a notarized document can be a secure net in which one can fall back. You can learn more about notarization and all that it involves on our website. As a general rule, stamp duty is paid on the basis of the duration of the contract, the amount of rent, the premium and/or any other form of rent and premium that can be fixed in the proposed tenancy agreement. The respective national governments of some Indian states have also set minimum circular rates.