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