Rs 4,500 fee on annual rent up to Rs 10 lakh
Lucknow: In the Cabinet meeting chaired by Chief Minister Yogi Adityanath on Tuesday, the Cabinet took an important decision to simplify the state’s tenancy system. The change applies to annual rent of up to Rs 10 lakh. The fee structure has been simplified and made more affordable by revising exemptions on effective stamp duty and registration fees for tenancy/lease deeds for up to 10 years. This will provide major relief to those renting out or taking on rent houses, shops or warehouses.
Stamp and Court Fees and Registration Minister Ravindra Jaiswal said that currently, when a person rents out or takes on rent a house, shop, or warehouse, stamp duty is calculated based on the circle rate. This placed an additional financial burden on people when preparing and registering a rent agreement.
He added that the Yogi government has now simplified this system by introducing a fixed fee structure. Under this, an annual rent of up to Rs 2 lakh will attract an annual fee of Rs 1,000, up to Rs 6 lakh an annual fee of Rs 3,000, and up to Rs 10 lakh an annual fee of Rs 4,500.
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