Chennai, being the thriving proud capital city of Tamil Nadu is the center of the most important Government buildings of British era, the Marina Beach, famous South Indian restaurants. Etc. Chennai, formerly Madras is also renowned for its rich past and its share of historical monuments of the bygone era that reflects the cultural heritage of South India, combined with the pleasant coastal climate and the buzz of activity as well as its close proximity to Bangalore & Tirupathi, makes Chennai a favorite place to move to for job opportunities, leading to tons of people migrating to this enchanting city of Chennai in search of jobs and better opportunities. And this ultimately led to massive demand for rental properties in turn for rental agreements in Chennai.
Rent Agreement is nothing but an agreement between the landlord and the tenant which lays down the details such as the duration, the rental amount, terms and conditions and responsibilities of both the landlord and the tenant. Having a rent agreement in place can save time and trouble for both the landlord and the tenant. In case of a landlord, the deal ensures that the rent is being paid on time and the property is being maintained by the tenant, for the tenant, it provides that the landlord does not change the terms of the rent according to his/her will or ask you to vacate the property.
Stamp duty It is the duty paid to the Government whenever an agreement or transaction is created. Stamp Duty is calculated from the value of the transaction. It is paid to the Government of Tamilnadu by purchasing Stamp paper of outstanding value.