Rent Agreement exemption: There are crores of people in the country who live on rent in other cities in search of work. The government is going to give relief to such people. It is being told that preparations are on to give exemption from stamp duty to the tenants paying rent of Rs 10,000 per month.
There is good news for those living in rented houses. Because the government has formed a committee to waive the stamp duty on the rent agreement. Let us tell you that earlier the Uttar Pradesh government has also given this facility to the people of its state. However, this discount will be available only to those people whose fare is up to Rs.10,000. That is, the renters above 10 thousand will not get the benefit of this exemption. Sources claim that very soon the government is going to make an announcement regarding the rent agreement.
In fact, in the Urban Premises Tenancy Regulation Ordinance-2021
it was made mandatory to make an agreement for giving and taking houses on rent. In which the government is talking about making some amendments. However, no official statement from the government has yet come on this. Let us tell you that many people do not even get the rent agreement done because of the fee. Keeping all these things in mind, the government is going to make a rule that those with less than 10,000 rent need not pay any stamp duty.
They will not get exemption
According to the rules, after the lapse of one year, the proposed exemption will be given again on the agreement for one year. At the same time, there will be no provision of exemption on big buildings, commercial buildings. It is being told that first few states will follow it. After this, there is a possibility of implementing it in the whole country. Adequate security provisions have been made in the Tenancy Act to protect the interests of the building owner and the tenants. Because nowadays the cases of possession of houses have increased. That’s why the rent agreement is very important for both the buyer and the seller.
