Safe­guards wel­comed

Pro­posed changes to the reg­is­tra­tion act may ben­e­fit both land­lords and ten­ants

HT Estates - - NEWS -

The pro­posed amend­ment in the Reg­is­tra­tion Act, 1908, mak­ing reg­is­tra­tion of lease deeds for high-end prop­er­ties manda­tory (even if it is for a term that is less than 11 months), has got a thumbs up from home­own­ers and reg­is­tra­tion ex­perts. Ex­perts say this amend­ment will serve two pur­poses — first, it will gen­er­ate rev­enues for the gov­ern­ment as ev­ery leasedeed reg­is­tra­tion re­quires a ten­ant to pay stamp duty on the lease. Sec­ond, it will safe­guard the rights of both the ten­ant and the land­lord.

“At present, the Reg­is­tra­tion Act makes it manda­tory to reg­is­ter each and ev­ery lease agree­ment for any term ex­ceed­ing 11 months all over the coun­try sub­ject to state amend­ments. A large num­ber of leasedeeds, how­ever, are not be­ing reg­is­tered as the

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