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Rate of Stamp Duty on Rent Agreement in Delhi

When it comes to renting a property in Delhi, there are various legal formalities involved such as executing a rent agreement and paying stamp duty. Stamp duty is a tax levied on the legal documents that are executed for the purpose of acquiring or transferring property.

If you are a tenant looking to rent a property in Delhi, you must know the rate of stamp duty that needs to be paid on the rent agreement. In Delhi, the stamp duty for rental agreements is fixed at 2% of the total average annual rent of the property, subject to a maximum of Rs. 50,000.

For example, if the annual rent of a property is Rs. 2 lakhs, the stamp duty payable on the rent agreement would be 2% of Rs. 2 lakhs, which would come out to be Rs. 4,000. On the other hand, if the annual rent of the property is Rs. 30 lakhs, the stamp duty payable on the rent agreement would be capped at Rs. 50,000.

It is important to note that stamp duty is a state subject and the rates may vary from state to state. Additionally, stamp duty rates are subject to change from time to time, and it is advisable to check the latest rates before executing a rent agreement.

Apart from stamp duty, there are also registration charges that need to be paid for registering the rent agreement. In Delhi, the registration charges for rent agreements are fixed at 1% of the deposit paid or the annual rent of the property, whichever is higher.

To conclude, the stamp duty payable on rent agreements in Delhi is fixed at 2% of the total average annual rent of the property, subject to a maximum of Rs. 50,000. It is important for tenants to know these rates and pay the necessary stamp duty and registration charges to avoid any legal hassles in the future.

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