Lucknow: Rules for rent agreements of flats and houses are going to change in UP. Now while renting a house or flat, you will not have to spend a lot of money for a written agreement i.e. registered agreement. Now a registered agreement can be made by spending a small amount. Yogi government is going to reduce the stamp duty on registering the rent agreement.
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The expenses in the registered agreement will be reduced
Now a rent agreement with annual rent up to one lakh rupees can be made for just Rs 500. The cost of agreement for up to 10 years will be around two thousand rupees. Even if the annual rent for a period of more than 10 years is up to six lakh rupees, then also only eight thousand rupees will be spent at most. Now the expenses in the registered agreement will be reduced a lot.
This is to reduce the disputes in tenancy
On the other hand, the government hopes that by doing this, more and more people will come forward to get permanent agreements made. There will also be a reduction in disputes related to tenancy. Tenants will not be able to get relief from civil court or police. The increasing cases related to tenancy in the court will decrease.
No law forces to get the rent agreement registered
At present, a two per cent stamp duty has to be paid on the annual rent for registering the rent agreement. This is the reason why flat-landlords and tenants mostly do not get the permanent written documents done. According to the law, there is no need to register the rent agreement for 11 months. In such a situation, the work is done by making a rent agreement on a stamp paper of Rs 100. In case of a dispute with the tenant, the landlord has to go from police station to court.
The cabinet will approve first
In such a situation, the Yogi government has now decided to give relief to the landlords. The government is going to cut down the cost of getting the rent agreement registered. According to media reports, the related proposal will be implemented soon as soon as it gets the approval of the cabinet.