When it comes to renting out your property in Pune, a leave and license agreement is an important legal document that you must have in place. This document outlines the terms and conditions of the rental agreement, and it is essential to have it in writing to avoid any disputes or confusion in the future.
But what is the cost of a leave and license agreement in Pune? Well, the answer to that question is not straightforward. The cost of a leave and license agreement can vary based on several factors, including the location of the property, the duration of the agreement, and the agreement`s complexity.
Typically, the cost of a leave and license agreement in Pune can range from Rs. 1,000 to Rs. 5,000 or even more. However, it is essential to note that this cost is not inclusive of stamp duty and registration fees. The stamp duty is calculated at 0.25% of the total rent for the period mentioned in the agreement, while the registration fee is a flat fee of Rs. 1,000.
So, if you are renting out your property in Pune for a period of 11 months at a monthly rent of Rs. 10,000, the stamp duty payable would be Rs. 2,750 (0.25% of 11 x Rs. 10,000), and the registration fee would be Rs. 1,000. Therefore, the total cost of the leave and license agreement would come out to be Rs. 3,750 (excluding lawyer fees).
It is essential to note that the above cost is only an estimate, and it can vary based on the lawyer you hire to prepare the agreement. It is always advisable to engage a lawyer experienced in drafting leave and license agreements. This will ensure that the agreement is legally sound and protects both the licensor and the licensee`s interests.
In conclusion, the cost of a leave and license agreement in Pune can vary depending on several factors. It is crucial to engage the services of a lawyer experienced in drafting such agreements to ensure that the agreement is legally sound and protects your interests as a property owner.