Latest Industry News

Stamp Paper For Rental Agreement In Bangalore

Small entrepreneurs sometimes don`t have enough capital to buy the space to start their business. For these startup businessmen, the commercial office rental agreement is the blessing. This lease allows business people to rent real estate in the same way that houses are rented. On this condition, a monthly rent must be paid to the lessor for the use of the premises. Few rules and fees are established, for both owners and contractors. Moving to Bangalore, Karnataka? It is a wonderful city with fantastic tourist attractions and excellent weather conditions. He is rapidly developing the city in many sectors, especially in the IT sector. In Bangalore, fantastic job opportunities are being created at a breakneck pace. This is one of the main reasons why people from all over the world are more attracted to Bangalore.

Thus, people are moving to Bangalore, and on the other hand, the need for rental housing is increasing. Although the city offers room for everyone, you need to know the right rental process in this city. Rental contracts subject to the rent control laws are subject to the rental rules of the Länder governments and rents are set by the Land government. The rent is in principle determined by compliance with factors such as the market price of the property, the construction costs incurred, the duration of construction. Here is a simple logic that the older the property would be lower the rent and vice versa. If a lease is signed for 12 months, the tenant obtains ownership of the property for an indefinite period. This state has certainly fueled the number of problems like tenants who refuse to leave the apartment, etc. The resolution of legal proceedings can easily take up to ten to twenty years. For this reason, most landlords prefer leases. They only guarantee tenants the right to stay 11 months in the rented building. A periodic extension is possible.

In 2008, the Karnataka State Government implemented the electronic stamp system in the state. The system was set up to combat and prevent fraudulent practices of registration and transactions on stamp paper. The electronic stamp system was implemented in collaboration with Stock Holding Corporation of India Ltd (SHCIL). Many of these order other departments or paper for the lease for which the account? The Karnataka state government began work on the e-stamping project in 2006. He finally launched the project after 2 years with a pilot project in the Sub-Registrar Office of Gandhinagar. It was a welcome step for the State government to take this initiative and make efforts to control the threat posed by the fake stamp papers that were harming the economy. SHCIL is the central registration centre for all electronic seals used in the country. It has been approved by the Indian central government. SHCIL`s responsibilities cover everything related to the e-buffer project, from user registration to data maintenance to management, management of e-buffer application operations…

Back to top