Uttar Pradesh, known for its historical monuments, also has the privilege of owning the Taj Mahal. Noida is known as the industrial hub of Uttar Pradesh and is home to offices of many big companies.

Due to the availability of vast opportunities in Noida, many people migrate to this city which is also very close to Delhi, to fulfil their various needs.  

If you are also hunting for a rental space in Noida and have no idea of the process to make a rental agreement, this article is a must-read for you.

Below is the process to create a Rental Agreement in Noida:

1. Draft the rental agreement and take its print on stamp paper of proposed value
2. Take the signatures of Tenant and Landlord at required places
3. Take the signatures of two witnesses
4. Get it registered at the local Sub-Registrar office

Stamp Duty and its relevance

Stamp duty is tax paid to the government to make a legal document valid. For rental agreements, it is (2% of annual rent + deposit, if the lease term is less than a year) as stamp duty in Uttar Pradesh.

If one does not pay the stamp duty and in case of any dispute conditions arise, in this condition, the court may order you to pay a penalty which is ten times the original Stamp Duty.

Registration and its relevance:

The document’s contents are registered with an official in the Registration process. This provides the below-mentioned benefits:

1. It helps in preventing any frauds/forgeries from happening
2. It is legal proof that the document was created by the parties concerned
3. It gives clarity and transparency
4. Liabilities and debts, if any, in the property’s name are disclosed

The registration charges are 1% of the rent+deposit in Uttar Pradesh along with advocate fees. If one does not get the documents registered, it will not be taken as primary evidence, and it will be considered collateral evidence.

Documents given by the landlord for the registration process:

1. Proof of ownership of property in original
2. Two passport size photos
3. It is a must to provide Aadhar Card or its receipt
4. Identity proofs viz. Driving licence, Passport etc.
5. The printed rental agreement on the required value of Stamp paper

Documents given by Tenant for the registration process:

1. Two passport size photos
2. Aadhar card or its receipt in case of an Indian citizen, Original Passport in case of Non-Indian citizen
3. In the case of the registered company as a tenant, an authorization letter from the company is required along with the company’s seal, which validates the person’s right to register the lease.
4. A Power of Attorney has required if a person represents another person.

Rental Agreements Notarization 

Notarization is a method for preventing fraud, and it is proof that both parties concerning the contract duly signed the document. It will be considered as collateral evidence in case of non-notarized agreements in courts if any condition of the dispute arises.Security Deposit or Caution Deposit

It is a lump sum taken from the Tenant before moving into the property. This amount is taken as a backup amount in case of any damages to the property incurred by the Tenant, which the Tenant refuses to pay or in case of non-payment of rent by the Tenant.

This amount is fully refundable to the Tenant in case of non-occurrence of any such hassles and at the time of giving back the keys while vacating the property.