[ecis2016.org] Kolkata’s migrant population is about a fifth of its total population. This means, rental properties remain in demand. Here is the detailed process to draft an online rent agreement in Kolkata
West Bengal’s capital Kolkata is a major business and commercial centre in east India. During British rule, from 1772 to 1911, Kolkata (earlier Calcutta) was the capital of India. So, it is a heritage city where several monuments and old architecture make it an attractive place for tourists. Kolkata has one of the busiest seaports in India, strengthening its trade and commerce activities. As it is an old city, roads and infrastructure developed gradually. Connectivity in Kolkata is good, with robust local bus and train services. People migrate to Kolkata every year in search of jobs, education and for business, which continuously creates demand for rental housing in Kolkata. Hence, rent agreements are vital for the peaceful co-existence of both, landlords and tenants. If you are looking for a residential property or planning to rent your property, you should know the process involved in getting the rent agreement in Kolkata.
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How can the rent agreement be helpful?
A rent agreement often prevents the landlord and the tenant from getting into a dispute. Here are some of its benefits:
- It stipulates the terms and conditions which are agreed by both, the tenant and the property owner.
- A written agreement, if registered, can be produced as a legal document.
- It clears all kinds of doubts and ambiguity between both the parties.
- Agreement rules vary from state to state. So, you must know the rent agreement rules in Kolkata, before you rent a property.
What is the process of preparing a rent agreement in Kolkata?
The process of creating a rent agreement is usually the same in most states. Here are a few things you should keep in mind, while making a rent agreement in Kolkata:
- Landlords and tenants, both should agree on each and every term and condition.
- The agreed terms and conditions should be printed on an agreement or a plain paper.
- The content of the printed rent agreement should be verified again by both the parties, to avoid confusion and mistakes.
- If everything written in the agreement is acceptable to both the parties, they can sign it in front of at least two witnesses.
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Why rent agreement is for 11-month period?
According to the Registration Act, 1908, it is mandatory to register a lease agreement if the tenure exceeds 12 months. That means, if the tenure is less than 12 months, there is no need to register it. It is advantageous to go for this arrangement and opt for a 11-month contract. Thus, this arrangement saves money payable towards stamp duty and registration fees.
Moreover, both the parties can renew the agreement after 11 months, if they wish to do so. In some states/cities, it is mandatory to register the rent agreement, irrespective of the tenure.
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Is it mandatory to register a rent agreement in Kolkata?
It is not mandatory to register a rent agreement in Kolkata if the tenure is less than 12 months. However, it is advisable to get it registered. If your rental period is more than 12 months, it must be registered.
If a rent agreement is registered, it becomes enforceable under the law and both the parties can show this in a court when required. It is important to note that only written agreements can be registered and oral agreements cannot be registered.
How to get a rent agreement registered in Kolkata?
The process of getting a rent agreement registered in Kolkata is as follows:
- Get the text printed on an agreement/plain paper with adequate stamp value.
- Visit the nearest sub-registrar’s office, along with all the documents, such as agreement paper, ID proofs, etc.
- Both the parties should be present at the time of registration.
- If one or both the parties are not present, their power of attorney-holder can sign the document.
- According to the Registration Act, 1908, it is the property owner’s responsibility to get the rent agreement registered.
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Documents required during the registration of a rent agreement in Kolkata
To save time and money, keep your documents ready before visiting the sub-registrar’s office to register the agreement. Here is the list of documents required for registering the rent agreement in Kolkata:
- Photocopy of passport, Aadhaar, driving licence, etc., as address proof.
- PAN or Aadhaar card as identity proof.
- Copy of title deed, to establish proof of ownership.
- Tax receipt or Index II.
- Two passport-sized photographs of the tenant and the landlord.
Online rent agreement facility by ecis2016.org
You get an easy and instant facility to make online rent agreements at ecis2016.org. The agreement is done online and once the process is complete, it is mailed to both the parties. The entire process at Hosuing.com is completely contact-less and hassle-free. You can conveniently do this from your home. It is also cost-effective. ecis2016.org is currently providing the online rent agreement facility in 250+ cities in India.
Benefits of online rent agreement in Kolkata
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If you want to save time and money, opt for the online rent agreement facility. The online process is relatively easy and cost-effective. You can make the agreement yourself as it does not require any expert assistance.
How much does a rent agreement cost in Kolkata?
A rent agreement usually involves costs towards stamp duty, registration fee and legal fee for an expert opinion. Stamp duty on rent agreement in Kolkata is as follows:
- If the rent agreement period is less than 12 months: 4% of total rent paid/payable.
- If the rent agreement period is more than 12 months: 5% to 6% of the average annual rent.
The rent agreement registration fee in Kolkata is around Rs 1,000. You can pay the stamp duty through non-judicial stamp paper or e-stamping/franking procedure. Hiring a legal expert to compile and register the agreement may cost extra.
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Points to keep in mind while making a rent agreement in Kolkata
The content of the rent agreement should not have any mistake or ambiguity. Keep the following things in mind while making a rent agreement in Kolkata:
- If you want to increase the rent every year, do not forget to mention the increment rate in the agreement.
- The agreement should always have a notice period mentioned by both, the landlord and the tenant.
- Details of fittings and fixtures in the flat should be mentioned in the rent agreement.
- Details of the advance/security deposit should be written in the agreement.
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Conclusion
Do not rush and compile the text of the agreement in a hurry. If you want to mention some points in the agreement, discuss it with the other party before including the same. An agreement that does not have ambiguities, can help you avoid disputes in future.
FAQs
What documents are mandatory to make an online rent agreement in Kolkata?
Identity proofs like Aadhaar or PAN, address proofs like driving licence or Aadhaar and passport-size photographs are required, for making an online rent agreement in Kolkata.
Who bears the rent agreement cost in Kolkata?
The landlord and the tenant, both can mutually decide about the cost involved in getting the agreement done. Usually, both the parties equally share the cost.
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Category: Lifestyle
