Law chamber

 PAVANANJAYA

 19 Years Exp

 Residential Lease Agreement (Show More)

 Dakshina Kannada , Kodiyalbail

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Information

Residential leases are contracts signed between owner of a property and a potential tenant who wishes to occupy the property for a period of more than eleven (11) months. Such leases are often very similar to typical short term rental agreements with a difference only duration or period of contract.

Residential leases signed for long periods of time often have clauses which are exactly the same as that of conventional rental deeds. The format followed too is pretty much the same. Some of the important clauses in a long term residential lease include-

    Duration of the contract
    Rent, security deposit and maintenance charges
    Consequences of breaching the contract
    Code of conduct expected from owner and tenant
    Method to be followed in case a dispute arises
    Conditions of contract renewal

Residential leases have to be drafted with care to make sure that future legal battles do not ensue between the owner and tenant. This means that the lease has to be comprehensive enough to leave no room for loopholes.

Whether you are an international retailer or an independent local seller, Retail Spaces Specially Mall Leasing can provide your business with the ideal solution to enhance your sales through leasing in Tier1 cities and also in upcoming cities and towns across the country.


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Name : PAVANANJAYA

Law Firm Name : Law chamber

Country : India

City : Dakshina Kannada

State : KARNATAKA

Practicing Since: 2006

About Your Firm : I am practicing since 2006 as a civil Advocate in Mangalore I am handling civil Matters M.C Cases , Consumer cases Registration work Revenue work, Legal Opinion etc

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  Legal Opinion/Title Certification ( Apartment/Builder Floor )
  Procure Specific Property Document(s) ( Khata Certificate/Transfer )
  Legal Opinion/Title Certification ( Residential Layout )
  Power of Attorneys ( Drafting General Power of Attorney )
  Legal Opinion/Title Certification ( Villa Project )
  Forming Owners Associations/Societies ( Apartments )
  Legal Opinion/Title Certification ( Commercial complex )
  Land Sourcing ( Apartment/Builder Floor )
  Agreements/Deeds(Bulk) ( Memorandum of Understanding )
  Land Sourcing ( Residential Layout )
  Agreements/Deeds(Bulk) ( Joint Development Agreement )
  Land Sourcing ( Villa Project )
  Agreements/Deeds(Bulk) ( Agreement of Sale )
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  Packages ( Apartment/Builder Floor )
  Agreements/Deeds(Bulk) ( Agreement of Sale with GPA & Possession )
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  Project Approvals ( Conversion of Land )
  Packages ( Villa Project )
  Procure Specific Property Document(s) ( Encumbrance Certificate )
  Packages ( Commercial complex )
  Procure Specific Property Document(s) ( Khata / Khata Extract )

 Legal & Drafting

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Subject :  Registration of property
Question :  Hello, I want advice on property registration. I have flat of 900 super built up area in Patna which I want to sell for Rs 27 lakhs. A buyer has agreed and an agreement has been made accordingly. However as per valuation the value of a property of 900 sq feet in my area is Rs 36 lakhs. Now the buyer wants to register the sale deed at Rs 36 lakhs. As payments will be made to my bank account, what will be the legal aspects and tax problems as payment amount will be Rs 27 lakhs,and I shall have to pay income tax accordingly. Please advice on the course of action to be taken. Thank you

Answer by Law chamber :  Yes you have to pay income tax on 36 lakhs you shoud avaid that you can do sale deed 27 lakhs ok

Subject :  Registration of property
Question :  Hello, I want advice on property registration. I have flat of 900 super built up area in Patna which I want to sell for Rs 27 lakhs. A buyer has agreed and an agreement has been made accordingly. However as per valuation the value of a property of 900 sq feet in my area is Rs 36 lakhs. Now the buyer wants to register the sale deed at Rs 36 lakhs. As payments will be made to my bank account, what will be the legal aspects and tax problems as payment amount will be Rs 27 lakhs,and I shall have to pay income tax accordingly. Please advice on the course of action to be taken. Thank you

Answer by Law chamber :  Yes you have to pay income tax on 36 lakhs you shoud avaid that you can do sale deed 27 lakhs ok

Subject :  Registration of property
Question :  Hello, I want advice on property registration. I have flat of 900 super built up area in Patna which I want to sell for Rs 27 lakhs. A buyer has agreed and an agreement has been made accordingly. However as per valuation the value of a property of 900 sq feet in my area is Rs 36 lakhs. Now the buyer wants to register the sale deed at Rs 36 lakhs. As payments will be made to my bank account, what will be the legal aspects and tax problems as payment amount will be Rs 27 lakhs,and I shall have to pay income tax accordingly. Please advice on the course of action to be taken. Thank you

Answer by Law chamber :  Yes you have to pay income tax on 36 lakhs you shoud avaid that you can do sale deed 27 lakhs ok