As a resident of Kolkata, if you are planning to enter into a lease agreement, it is important to ensure that the agreement is registered. This not only makes the agreement legally valid, but also protects the interests of both the landlord and the tenant.
The registration of lease agreement in Kolkata is governed by the West Bengal Registration (Amendment) Act, 2011. According to this Act, any lease agreement with a term of more than 12 months must be registered with the Sub-Registrar of Assurances within whose jurisdiction the property is located.
The process of registration involves the payment of a registration fee and stamp duty, calculated based on the terms of the lease agreement. The stamp duty is generally 2% of the average annual rent of the property, while the registration fee amounts to Rs. 1000, with an additional Rs. 100 charged for every page beyond the first three pages of the lease agreement.
It is important to note that if the lease agreement is not registered, it is not admissible as evidence in court. This means that in case of a dispute between the landlord and the tenant, the unregistered agreement will not hold any legal value.
Apart from being legally valid, the registration of lease agreement also has other benefits. For instance, it ensures that the landlord cannot arbitrarily increase the rent or evict the tenant without proper notice. It also ensures that the tenant is responsible for the upkeep of the property and cannot sublet the premises without the landlord`s consent.
In conclusion, the registration of lease agreement in Kolkata is crucial for both landlords and tenants. It not only makes the agreement legally valid, but also protects the interests of both parties. So, if you are planning to enter into a lease agreement, make sure to get it registered with the Sub-Registrar of Assurances.