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FAQ – Online Registered Rent Agreement

What is e-Registration(Online) of Rent Agreement?

The process of making a Registered Rent agreement online is known as Online Registered Rent Agreement. It is also known as “Leave and License Agreement”. This agreement is basically an understanding between the Licensor (Owner) and the Licensee (Tenant) for the terms and condition of the Lease. These documents are registered in the Sub-Registrar Office – An Authorized Government body, having the authority to register documents.

Is “Online Registered Rent Agreement” similar to “Registered Rent Agreement”?

“Online Registered Rent Agreement” and “Registered Rent Agreement” is one and the same. This online facility is started by the state of Maharashtra for facilitating the residents of Maharashtra for easy and fast registration of their Leave and License Agreement without going to the Sub-Registrar office.

What is the cost of making an Online Registered Rent Agreement?

The Cost of making a Registered Rent Agreement is dependent upon two government fees: (i) Stamp Duty and (ii) Registration fee. The stamp duty is calculated based on the Rent, Deposit, Location, Tenure. However, Registration Fee for Urban area is Rs. 1000/- and for Rural area is Rs 500/-. Apart from that, the Representative who is preparing the agreement may charge his/her professional fees.
Total Fees is: STAMP DUTY + REGISTRATION FEE + PROFESSIONAL FEE.

What are the different types of Rent Agreement?

The following are the different types of Rent Agreement:

Registered Rent Agreement
Notarized Rent Agreement

Which type of Registered Rent Agreement has more value for money?

The procedure of making “Online Rent Rent Agreement” has more value for money as it saves the effort of going to the Sub-Registrar office and is more economical than the manual procedure. However, sometimes due to server maintenance the Agreement may take more time than normal.

What are the differences between “Notarized Rent Agreement” and “Registered Rent Agreement”?

Registered Rent Agreement/Leave and License Agreement is acceptable by the Court of Law, however Notarised Rent Agreement has no Legal Significance
Registered Rent Agreement has to be registered by the Sub-registrar office and so registration fee is charged. However, Notarized agreement is only notarized

How long does it take to prepare the Online Registered Rent Agreement?

Online Registered Rent Agreement: Once the finger scans and photos are taken and submitted online, the agreement takes about 1- 2 working days (approximately) to be approved by the Sub-Registrar.

What are the Documents required for e-Registration (Online Registration) ?

The Following documents are required to register the online rental agreement:

ADHAR CARD OF THE OWNER (LICENSOR)
PAN CARD OF THE OWNER (LICENSOR)
ADHAR CARD OF THE TENANT (LICENSEE )
ADHAR CARD OF THE 2 WITNESS PERSON
INDEX-2 OR ELECTRICITY BILL OF RENTED PROPERTY