Stamp Duty For Rental Agreement In Tamil Nadu

All you need is to ensure certain points that must be present in the agreement. In addition, you must provide the details of your property and transaction. Although you can use stamp papers after six months, unused papers should ideally be returned to the collector within six months and you could also be refunded. Using old stamp paper is not a good idea. Location is the main factor in estimating the value of buffer paper. The duration of the agreement also plays a role. Stamp duty on short- and long-term leases varies from state to state. In addition, your annual rent is also a factor, especially for commercial leases. Token Advance – Token Advance refers to a small amount of money that the tenant pays to the lessor before signing the rental deed. The idea is to prevent the landlord from preventing other potential tenants from developing an interest in the property. Stamp duty is essentially a form of tax levied on legal documents in order to make it legally enforceable. In Tamil Nadu, the stamp duty paid for rental contracts is usually equal to 1% of the amount of rent + deposit, regardless of the duration of the rental….