A few weeks ago, the Uttar Pradesh government revealed plans to overhaul the tenancy rules in UP. One key change is related to stamp and registration fees for rent agreements. Under Indian law, rental agreements for residential properties for a 11-month term don’t need mandatory registration. This is why most rental agreements are for 11 months only. There is another reason why most residential rent agreements remain unregistered and are for 11 months and that is related to circle rates.
In a press conference, Ravindra Jaiswal, Minister of State for Stamp and Registration Fees announced that the Uttar Pradesh government is planning to impose a stamp duty of Rs 1,000 for rent agreements where the annual rent is Rs 2 lakh.
