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Not even once. We will conduct the whole process for you online / at your home.
How much will it cost?
Please click here to know the charges. Apart from our convenience fee, the charges typically include stamp duty, registration charges, etc.
Landlord and tenant are in different locations?
You can use the Aadhar eSign based digital signature service.
Is Aadhar e-sign valid?
Yes, Aadhaar eSign based digital signatures are a legally accepted and secure manner of electronically signing documents, under effect of Gazette Notification No. 2015 Jan -GSR 61(E) Electronic Signature or Electronic Authentication Technique and Procedure Rules, 2015.
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Will I receive a hard copy?
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Rent Agreement for Greater Noida
Taj Mahal is the best word to understand the place we are talking about, and its Uttar Pradesh (UP). Apart from holding this world monument, this place is also native to India's capital New Delhi. Greater Noida is the industrial capital of Uttar Pradesh and has many new residents due to the employment opportunities it offers. It is slowly turning out to be the business hub of UP, and no wonder people from all across the country are coming here and stay on a rental basis in the hunt for better career prospects.
The significance of Greater Noida is evident from the fact that a large number of people are migrating to UP each year in aspiration of education, job, and even cultural searches. This has led to a high increase in demand for rental spaces in Noida and Greater Noida regions. If you are also planning to shift in UP and need an ideal rental space, there are a few crucial rental agreement details that you must know. This page has valuable information on the preparation of such a rental agreement. Let's read below to study in detail.
The significance of Greater Noida is evident from the fact that a large number of people are migrating to UP each year in aspiration of education, job, and even cultural searches. This has led to a high increase in demand for rental spaces in Noida and Greater Noida regions. If you are also planning to shift in UP and need an ideal rental space, there are a few crucial rental agreement details that you must know. This page has valuable information on the preparation of such a rental agreement. Let's read below to study in detail.
Procedure to create a rental agreement in Greater Noida, UP:
- Make a rental agreement and print it on a stamp paper of ascertaining value.
- The next step is to place the authentic signature of the tenant and Landlord at the right points.
- Get signatures from two main witnesses.
- Deed registration at the office of the Sub-Registrar
These days, you also have an option to create online rental agreements just in case if you wish to skip the hassle of visiting a lawyer. Just make sure to follow a legal website where you have pre-drafted rental contracts from a verified lawyer for your convenience. Customized services might also be available for you.
Importance of stamp duty
While you assure the validation of any legal document, a certain amount of tax payment is necessary, and stamp duty is that specific amount. In all over the UP, you need to pay the stamp duty for every rental agreement, i.e., 4% of your annual rent +deposit. This is valid only when the lease term is lesser than a year.
In the absence of requisite stamp duty payment or any other dispute, the court might hold an expensive sentence of paying 10 times the amount of actual stamp duty as the penalty.
In the absence of requisite stamp duty payment or any other dispute, the court might hold an expensive sentence of paying 10 times the amount of actual stamp duty as the penalty.
Registration details
Registration is a crucial part of registering any document and its contents with a dedicated official. The benefits of Registration process are as follows:
- Avoids chances of potential forgeries or frauds.
- A Registered document is ample proof that the document is legit amongst the parties stated in its deed.
- Gives better clarity and transparency
- Registration ensures a discrepancy in all debts, liabilities, and feuds relevant to the property.
In UP or specifically Greater Noida, registration charges are 2% of the rent+ deposit amount. An unregistered document can never be primary evidence and will retain the status of collateral evidence.
List of documents that Landlord must present for Greater Noida rent agreement Registration:
- Original copy for property title or ownership proof.
- 2 passport size photos of Landlord
- A compulsory proof ID is an Aadhar card or the receipt of the same.
- Government legit ID proofs- Passport, Driving License, and Passport.
- Printing a rental agreement on a specific value of stamp paper is mandatory.
List of documents that tenant must present during Greater Noida rent agreement Registration:
- Two Passport size photos of the tenant.
- Aadhar card or the receipt while making an application if you are Indian. In the case of others, the original passport of him/her is mandatory.
- If the tenant is a registered company, they must have an authorization letter, board resolution, or the company's validation on lease registration.
- In case someone else represents the person on whose name the Registration is to be done, the legal power of attorney is crucial.
Since 2013, E-stamping is available in UP but only for those whose stamp duty exceeds INR 10,000. However, SHCIL, in compliance with other banks, is allowing the issue of e-stamp paper in all major cities of UP, including Greater Noida.
Notarization of the rental agreement for Greater Noida
Do not confuse this process with Registration. They are two entirely different elements of a rental agreement in Greater Noida. Notarization is a process through which one can ensure fraud-deterrent and prove that the given document is genuinely signed by the actual parties stated in the contract. Any rental agreement in Greater Noida that is non-notarized is only collateral evidence in the case of any unlawful dispute.
What about the security deposits?
The legal term for it is also a caution deposit. It is a fixed amount that any tenant needs to pay before moving to your property. The security deposit's significance is for the payback of accidental damages that the tenant might make and refuses to pay back for the losses. In such a situation, the Landlord can deduct a certain amount from the deposit. When there are no such hassles, the tenant can get the complete refund of the security deposit while handing keys back to the Landlord.
Types of the common rental agreement in Greater Noida
- 11-month tenancy deed
- Commercial Lease
- Long Term Lease
Clauses that must be a part of your rental agreement in Greater Noida
Drafting a careless rental agreement in Greater Noida can create several loopholes, and most people even stay unaware of it. A faulty or legally weak rental deed can work against you if any unfortunate dispute arises in the future.
Even if both parties have friendly relations, making up a rental deed is essential to remove all hassles. All major cities of UP, including Kanpur, Ghaziabad, Lucknow, and Noida, accept elaborated rental agreements while cities like Agra stay relaxed in these terms.
Even if both parties have friendly relations, making up a rental deed is essential to remove all hassles. All major cities of UP, including Kanpur, Ghaziabad, Lucknow, and Noida, accept elaborated rental agreements while cities like Agra stay relaxed in these terms.
List of clauses to include in your Greater Noida rental agreement:
- Security deposit, rent amount, and maintenance charges- Mention the amount of security deposit that you have to pay and also the rent amount. The hike percentage that you have agreed must also be transparent in your agreement. Maintenance charges are to be compulsorily paid by the Landlord.
- Animals- If you own any pet animals, mention them so that the society does not take any objection once you locate the place.
- Food habits- Many Landlords prefer only pure vegetarians. If you are a non-vegetarian, you might have to mention your food preferences as well.
- Overstay- Number of people in your family who would reside with you as tenants must be clear. If there are a higher number of people than mentioned in the rental agreement, you might have to suffer objections.
- Lock-in period- Depending on your terms with the landlord, a specific lock-in-period is vital to mention that can be 1, 3 or even 5 years.
- Penalty- In case of breach of trust from either sides, there are penalty clauses to safeguard the interests of both the parties. Consider it as an important part of your rent deed.
Keep track of four things while making any rental agreement in Greater Noida
- Owner's Authenticity
- Payment receipts
- Maintenance and Paintings
- Document Registration
How about making the rental agreement online for Greater Noida?
If you wish to completely escape the jeopardy of meeting up with the lawyers to create a legit rental agreement, online assistance might prove helpful. You can seek help from any online legal advisor to help the process and get the whole agreement printed. There is a team of experts who can guide the entire process of making and processing this rental agreement. For any further queries, you can ask online legal experts as well!
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