The pre-registration of Leave License Agreements to occupy a sub-let flat of any housing society in Mumbai is must on various counts: Legal, Security of residents, assurance of getting back possession of vacant flat.
A large number of real estate brokers are thriving on this procedural hassle a licensee wants to avoid every 11 months for housing society Bye Laws permit LL A of 11 months at a time. Every eleven months the Licensee has to shell out 3-4 K to the brokers. This is coming to a happy end with a bonus of familiarity with on line transactions processing.
Leave and licence agreements in cities like Mumbai, which have prohibitively high real estate prices, account for around 35% of volumes in terms of documents registered, but the share of revenue collected is less considering the low stamp duty value compared to sale and purchase deeds.
“Pilot testing is underway, we will enable universal access soon,” Dr Shrikar Pardeshi, Inspector General of Registration and Controller of Stamps, reportedly told the press a few days ago.See more at: Click here