Q. What are the documents required for making your Online Registered Rent Agreement in Pune, Mumbai and rest of Maharashtra?
Ans: The following are the documents required for making your Online Registered Rent Agreement or Leave and License Agreement in Pune, Mumbai and rest of Maharashtra:
Adhaar Cards – of Both Licensor and Licensee (Owner and Tenant)
PAN Card – of Both Both Licensor and Licensee (Owner and Tenant)
Electricity Bill – Bearing the Licensor’s (Owner’s) name in it.
Index 2 – Bearing the Licensor’s (Owner’s) name in it.
Municipal Tax receipt – Bearing the Licensor’s (Owner’s) name in it.
Adhaar Card – Adhaar card is a mandatory document for making your Online Leave and License Agreement or Online Registered Rent Agreement. That’s because the identity of the party (the Licensor and Licensee/ Owner and Tenant) to the Leave and License agreement is verified by the Adhaar data available Online. The fingerprints and the Adhaar Number is Cross Verified to match the Photo Identity of the Person, which is a part of the agreement.
PAN Card – Pan Card though is not mandatory for a Licensee of an Online Leave and License Agreement. But for a Licensor of an Online Registered Rent Agreement, its mandatory. As the income for the House Rent is a party of an individual’s Other Income and hence the IT Department can appropriate this House Rent Income of the Licensor for valuating the Annual Tax Filing of the Licensor.
Electricity Bill – This document is not required for making your Online Leave and License Agreement or Online Registered Rent Agreement. However, all the Electricity Bill has the Licensor’s name in it and thus its an important document to verify the Ownership of the Property. This document is however mandatory incase of an Offline Leave and License Agreement or Registered Rent Agreement. So, for verification process, this document can be checked by the Lawyer/ Officer or the External Person preparing the Leave and License Agreement.
Incase the Licensor’s name is not available on the Electricity Bill, then any other authentic document can used to prove the Licensor’s identity of Ownership of the Property. The documents are (i) Index 2 or (ii) Municipal Tax Receipt. This usually happens incase the property is very recently purchased and the Owner’s name is not reflected in the Electricity Bill initially.
Index 2 – Index 2 of the Property is a small document stating the current owner’s name and the old owner’s name as well from whom the property has been purchased. This document can also be used to verify the ownership and identity of the Licensor.
Municipal Tax Receipt: Any property which is owned by a person in the State of Maharashtra needs to pay annual property tax. So, everytime the Tax is paid to the Municipal Corporation, Recept is generated either Online or at the Property Office or Corporation Office. This Receipt bears a correct address and can be used as an authicating proof of the ownership of the Licensor for the purpose of making the Leave and License Agreement or Registered Rent Agreement.
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