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    Guide Rent Regarding

    Uploaded by

    Manjunatha Reddy
    The document outlines the 8 step process for registering a rental agreement in Karnataka, which includes preparing a draft agreement, printing it on stamp paper, visiting the sub-registrar's office with documents like address and ID proofs for all parties, paying the stamp duty and registration fees, and getting all signatures on the agreement. Registering a rental agreement for over 11 months is mandatory in Karnataka, while it is optional for agreements under 11 months, and the stamp duty fees vary from 0.5-5% of the property value depending on the length of the rental period.

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    Guide Rent Regarding

    Uploaded by

    Manjunatha Reddy
    27 views2 pages
    The document outlines the 8 step process for registering a rental agreement in Karnataka, which includes preparing a draft agreement, printing it on stamp paper, visiting the sub-registrar's office with documents like address and ID proofs for all parties, paying the stamp duty and registration fees, and getting all signatures on the agreement. Registering a rental agreement for over 11 months is mandatory in Karnataka, while it is optional for agreements under 11 months, and the stamp duty fees vary from 0.5-5% of the property value depending on the length of the rental period.

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    Ideas to rent easily with registration

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    The document outlines the 8 step process for registering a rental agreement in Karnataka, which includes preparing a draft agreement, printing it on stamp paper, visiting the sub-registrar's office with documents like address and ID proofs for all parties, paying the stamp duty and registration fees, and getting all signatures on the agreement. Registering a rental agreement for over 11 months is mandatory in Karnataka, while it is optional for agreements under 11 months, and the stamp duty fees vary from 0.5-5% of the property value depending on the length of the rental period.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    27 views2 pages

    Guide Rent Regarding

    Uploaded by

    Manjunatha Reddy
    The document outlines the 8 step process for registering a rental agreement in Karnataka, which includes preparing a draft agreement, printing it on stamp paper, visiting the sub-registrar's office with documents like address and ID proofs for all parties, paying the stamp duty and registration fees, and getting all signatures on the agreement. Registering a rental agreement for over 11 months is mandatory in Karnataka, while it is optional for agreements under 11 months, and the stamp duty fees vary from 0.5-5% of the property value depending on the length of the rental period.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    Here is the step by step procedure to register a rental agreement.

    Step 1: Prepare the rental agreement draft in word format

    Step 2: Buy a document paper or a bond paper

    Ste 3: Print the draft on document paper

    Step 4: Carry the following document to sub-register office near you

    Printed rental agreement


    Aadhar Owner, tenant,
    and two witnesses to be present to register a rental agreement

    Step 5: Pay the required stamp duty and registration charge

    Step 6: Officer will take fingerprint impression and photo of property owner and tenant

    Step 7: If you lined mobile number with Aadhar, An OTP will be sent to your mobile number to complete e-signing.

    Step 8: Property owner, tenant and witness should sign the rental agreement of all pages.

    This completes the registration of rental agreement in Karnataka

    Your Guide to registering a rental agreement in Karnataka


    Leave and License Agreement (also called Rent agreement) is a legal document that includes the property
    details, the rent and deposit amount payable, and other terms and conditions associated with the property
    rental transaction. The terms and conditions mentioned in this rental agreement are binding on the tenant
    as well as the landlord (owner). You may read here for more information on the types of rent agreements
    executed in India.
    In Karnataka, it is a mandate to register the leave and license agreement for the rental period of more than
    11 months. Registering a rent agreement is optional in case the rental period is less than or equal to 11
    months.
    Leave and License agreements in Karnataka attract Stamp Duty and registration charges as follows:
    Rental Period Stamp Duty (% of Consideration Value) Registration Charges
    < 1 year 0.5% (Max: Rs 500) Rs 200

    ≥ 1 < 10 years Rs 1 per Rs 100


    Rs 0.5 per Rs 100
    ≥ 10 < 20 years Rs 2 per Rs 100
    (Min: Rs 200)
    ≥ 20 < 30 years Rs 3 per Rs 100

    Rs 1 per Rs 100
    > 30 years* Rs 5 per Rs 100 (Min Rs 5.6 lacs)
    (Min: Rs 1 lac)

    * Consideration Value refers to the average annual rent payable, as mentioned in the document.
    Consideration Value for a rental period more than 30 years depends on the locality, property area,
    amenities in the property, and various other factors. The stamp duty amount mentioned is an indicative
    figure for a mid-range 1,000 sqft house in Electronic City area in Bengaluru.
    You may also visit the website of Kaveri Online Services for calculating the exact Stamp Duty and
    registration charges for your property.
    Below are the detailed steps for registering a rent agreement in Karnataka:
    Step 1:Prepare a draft of the rental agreement that mentions the following basic details:
     Name and permanent residential address of the owner (landlord)
     Name and permanent residential address of the tenant
     Address of the property being put up on lease
     Tenure of the rental agreement
     Financial consideration including monthly rent and security deposit payable
     Any other terms and conditions the tenant or owner wishes to apply
    Step 2: After verification by both parties (the tenant and the owner), print this draft agreement on a stamp
    paper of Rs 100 or above. Stamp paper can be procured from a registered stamp vendor, a legal
    practitioner, or from the court campus.
    In the absence of a stamp paper, you may also print the draft agreement on a plain paper and get it
    franked for Rs 100 from an authorized bank. Banks levy a small franking charge for this, which is usually
    around 0.1% of the franking amount. It is to be noted that not all banks are authorized to frank
    documents.
    PLEASE REMEMBER TO NOT SIGN THE DOCUMENT BEFORE FRANKING. BANKS DO NOT
    FRANK THE DOCUMENT IF IT IS SIGNED BY EITHER OF THE PARTIES.
    Step 3: Visit the Sub-Registrar’s Office (SRO) under whose jurisdiction the property comes, for
    registration of the agreement. Pay the stamp duty and registration charges at the office. Both the parties
    and witnesses are required to sign the document before the Sub-registrar.
    You may visit the website of Kaveri Online Services to locate the SRO for your property.
    Carry the following documents along while visiting the SRO:
     Document mentioning the property details such as Property Khata, Property Identification
    Number (PID), or sale agreement of the property
     Address proof of the property to be registered
     Address proof and photo ID proof of the tenant
     Address proof and photo ID proof of the owner
     Demand Draft of the Stamp Duty and Registration amount
     Two witnesses along with their photo ID proofs
    Source: Department of Registration and Stamps, Government of Karnataka

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