What is Lease Rent & ATL?

[Safal Suri (Gmail)]

Dear All,

It seems quite a lot of people are confused about "LEASE DEED" & "AGREEMENT TO LEASE (ATL)".

Following writeup will help you un-confuse this topic:

1. Please be informed that all properties allotted by Tri-Authorities in District Gautam Budh Nagar, namely Noida, Greater Noida & Yamuna Expressway authorities, are allotted on lease basis.

2. The lease duration is different for commercial, industrial and residential properties. 

3. Residential properties are leased for 90 years duration.

4. Once the allottee has paid the full premium (cost) of the plot to the authority, the allottee is then required to pay the LEASE RENT to the authority.

5. Earlier, the lease rent could either be paid annually or one time.

6. Annual lease rent used to be 1% of current circle rate for each year.

7. One time lease rent is equal to 10% of the original allotment rate.

8. From 1st July 2017, the allottees are now required to pay 18% GST on the lease rent.

9. Once the allottee has paid up-to-date premium and one time lease rent, the authority prepares the LEASE DEED, which is signed by the authority (leasor) and the allottee (leasee).

10. Once the Lease Document is signed, it is then registered at SUB-REGISTRAR'S office, for which the allottee pays a certain amount to the state revenue department, but means of stamp duty. This is called, registry.

That was about Lease Rent, Lease Deed and Registry. Now let's talk about Agreement To Lease (ATL).

ATL, as the title speaks for itself is, NOT a Lease Deed. It is just an agreement between the authority and the allottee, wherein the allottee promises that he/she shall pay lease rent and execute lease deed WHEN THE AUTHORITY provides physical possession of the property.

By doing so, the allottee pays the stamp duty at the current rate, thereby, freezing the stamp duty.

Once ATL is executed, the allottee need not pay stamp duty again, but still has to pay the Lease Rent and execute the Lease Deed.

Hope this helps,

Safal Suri

 

Sent from my Samsung device

[Nagendra Singh]

Dear Safal,

Lease Deed and ATL both are mandatory?  Also,  does lease rent includes registry amount or we have to pay for registry also? 

 It would be really helpful if you could provide an estimate of each item to be paid on possession.

Thanks

Nagendra Singh

+91-9999358632

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[Mukesh Goswami]

Thanks safal . If we have not executed ATL till date for yamuna plot then do we pay ATL charge at allotment rate and then wait for authority to give possession so that registration can be done

On Aug 4, 2017 2:11 PM, "Safal Suri (Gmail)" <safa...@gmail.com> wrote:

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[amit mathur]

Dear Safal ji,

Is ATL necessary even after the actual lease rent is being paid now by
people who are getting possession?

Thanks

Amit

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[Safal Suri (Gmail)]

Dear Mr. Amit,

ATL is a special instrument used to ensure that government’s genuine revenue is not lost when transfer of ownership of such properties takes place where the physical possession of the property is either not provided or getting delayed due to certain circumstances.

Now that the physical possession is being provided and one can sign and execute the Lease Deed, naturally ATL is neither required, nor is it valid anymore (after one recieves notice to execute the Lease Deed).

Hope this clears the confusion and answer's your question.

Regards,

Safal Suri

Sent from my Samsung device

[Nagendra Singh]

Dear safal,

 If someone has done ATL already(I have done in 2010),  does he require to pay again for lease deed?

Thanks 

Nagendra singh

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[Safal Suri (Gmail)]

Lease Deed and ATL are 2 entirely different things. I have already explained below. Please read it carefully.

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[ismehla]

Yes on a Rs 10 stamp paper by attaching already executed ATL  lease deed vl b done.

As stamp duty already paid ,no additional duty but lease rent shall hv 2b paid 

Sent from my Samsung Galaxy smartphone.

[Safal Suri (gmail.com)]

 

Sir,

 

The ATL means AGREEMENT TO LEASE.  Which is done when the Lease Deed is not being done.

 

Clearly these two are different from each other. One is actual Lease Deed. Other is an agreement or a promise to do Lease Deed whenever it is offered. Which also means, that by doing Agreement To Lease (ATL) all you have done is an agreement and not an actual Lease Deed.

 

You must also understand that when you did ATL you did not pay any money to the authority. Yes, you did purchase stamp papers to register the ATL, but that was paid to the state government, not to the authority.

 

The LEASE DEED can only be done, when physical possession of the property is offered. Hence, actual Lease Deed wasn't possible earlier, when you registered ATL.

 

Now whenever you are offered to sign and execute the LEASE DEED, you will be required to pay the lease rent to the authority. Thereafter, when you go to the sub registrar’s office to register the lease deed, you will not have to purchase fresh lot of stamp papers. All you will be required is to produce original ATL that you registered earlier and execute the registration of actual LEASE DEED on just Rs. 100 stamp paper and pay 20,000 as registration charges. That is all.

 

In simple words, by execution ATL for around Rs. 78,500 (Stamp Papers) + Rs. 10,500 (Registration Charges) in 2010, you saved on the possible acceleration in the cost of Stamp Duty, which now stands at Rs. 3,67,500 (Stamp Papers) + Rs. 20,000 (Stamp Papers) for a 300 sq mtr plot in 2017.

 

You will still be required to pay LEASE RENT, which you did not pay earlier either.

 

Hope this clarifies your doubts.

 

Regards,

 

Safal Suri

 

 

 

 

From: Nagendra Singh

Sent: Saturday, August 5, 2017 11:57 AM

To: Safal Suri

Cc: ye...@googlegroups.com

Subject: Re: [YEIDA:34920] : What is Lease Rent & ATL?

 

Right Safal ji...but below line in your previous email created confusion:

 

"Now that the physical possession is being provided and one can sign and execute the Lease Deed, naturally ATL is neither required, nor is it valid anymore (after one recieves notice to execute the Lease Deed)."

 

It means that ATL is not needed if lease deed is being done.

So likewise, if i have done ATL do i need to pay for lease deed again? I hope not but still want to confirm.

 

Thanks

Nagendra Singh

 

 

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[Nagendra Singh]

Right Safal ji...but below line in your previous email created confusion:

"Now that the physical possession is being provided and one can sign and execute the Lease Deed, naturally ATL is neither required, nor is it valid anymore (after one recieves notice to execute the Lease Deed)."

It means that ATL is not needed if lease deed is being done. 

So likewise, if i have done ATL do i need to pay for lease deed again? I hope not but still want to confirm.

Thanks 

Nagendra Singh

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[Nagendra Singh]

Thanks Safal Ji...now its clear.

Thanks

Nagendra Singh

[sunil raghuvanshi]

Sfal Sir

Pl. look at this....
(In simple words, by execution ATL for around Rs. 78,500 (Stamp Papers) + Rs. 10,500 (Registration Charges) in 2010, you saved on the possible acceleration in the cost of Stamp Duty, which now stands at Rs. 3,67,500 (Stamp Papers) + Rs. 20,000 (Stamp Papers) for a 300 sq mtr plot in 2017.)
On Friday, August 4, 2017 at 2:11:09 PM UTC+5:30, Safal Suri 9811182828 wrote:

[sunil raghuvanshi]

Safal Sir

i am attaching herewith Govt. notification no. KN-7-440/11-2015-700(111)/13 ...DTD, 30mar2015....PL. see ..

thanks

(((simple words, by execution ATL for around Rs. 78,500 (Stamp Papers) + Rs. 10,500 (Registration Charges) in 2010, you saved on the possible acceleration in the cost of Stamp Duty, which now stands at Rs. 3,67,500 (Stamp Papers) + Rs. 20,000 (Stamp Papers) for a 300 sq mtr plot in 2017))

On Friday, August 4, 2017 at 2:11:09 PM UTC+5:30, Safal Suri 9811182828 wrote:

[PRAMOD NIGAM]

Respected Safal Ji,

Cost of the stamp duty has accelerated exorbitantly due revision in circle rate. But, since authority did not have title to the allotted land and even as of today many of the plots are under stay, what is the justification that allottee should bear this enhanced cost?

thanks/ pramod 

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[Naveen Agrawal]

A very  nice explanation.... Thanks... 

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[amit mathur]

Thank you Safal ji for your clarification

Amit

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For help or assistance, kindly contact one of our YEIDA group moderators: Arnab Mukherjee, Raj Yadav, Safal Suri, Nagin Chand, Naveen Deep Sharma or Harpreet Singh Guller via email: mode...@yeida.org

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You have received this message because you have subscribed to the Google "YEIDA" group.
 
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You can unsubscribe from YEIDA group through our web interface or via email.
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For help or assistance, kindly contact one of our YEIDA group moderators: Arnab Mukherjee, Raj Yadav, Safal Suri, Nagin Chand, Naveen Deep Sharma or Harpreet Singh Guller via email: mode...@yeida.org
 
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[Monica Handoo]

Ashwani,

Here it is. 

Thanks 

Sent from my iPhone

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For help or assistance, kindly contact one of our YEIDA group moderators: Arnab Mukherjee, Raj Yadav, Safal Suri, Nagin Chand, Naveen Deep Sharma or Harpreet Singh Guller via email: mode...@yeida.org
 
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[Parth]

But why should allottees bear the cost as per circle rate? It was restricted for stay plots. How could the owner of stayed plots could go for ATL?

BR

Parth

[Vinod Chadha]

Dear Safal

I am attaching the order in both Hindi and English versions for easier understanding. 

Kindly interpret it for us.

With best wishes

Vinod Chadha

--

[Kamal Mendiratta]

Dear Safal hi,

How much is the lease rent now a days

Thanks in advance

Kamal

[Safal Suri (Gmail)]

Lease rent is 10% of the plot premium.

That is... Rs. 4750/- x 10% = Rs. 475/- per square meter.

Please multiply Rs. 475/- with your plot size to derive the lease rent applicable to you.

Cheers...

Sent from my Samsung device

-------- Original message --------
From: Kamal Mendiratta <kamalmend...@gmail.com>
Date: 08/03/2018 7:19 a.m. (GMT+05:30)
To: ye...@googlegroups.com

(2) To unsubscribe from YEIDA group via email, please send an email to yeida+un...@googlegroups.com

 
For help or assistance, kindly contact one of our YEIDA group moderators: Arnab Mukherjee, Raj Yadav, Safal Suri, Nagin Chand, Naveen Deep Sharma or Harpreet Singh Guller via email: mode...@yeida.org
 
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[Ram]

Dear safal ji
Does the above formula is applied only till 31st march??
Later,we will have to pay penalty??

Please clarify who will be liable for penalty?

Regards,

Ram

[Vinod Chadha]

Dear Safal

Please refer the order in English attached with my mail dated 06 Mar 2018. 

The order refers to both Rent as well as the conveyance deed / sale deed. However, I am unable to interpret the order in our case. 

Please help.

[Aditya Veer Singh]

Dear Safalji and group member,

I have a question here,

I haven't done a ATL till date, original allotment of a 300sqm plot was done on my name and I have paid all the installments till date.
My plot is not under the procession schedule as released by YEIDA till now.

What will be amount of stamp papers I have to buy 78,500/- or 3,67,500/- ?
I have read contradicting options online where some say that original allottees have pay by rate allotment or say by circle rate.

Also what kind of penalty waiver is till 18th March, 2018?

Regards,
Aditya

[Mithilesh Gupta]

What is stamp duty for lease deed of 300 sq my plot
V.k.gupta

[Shashi Shankar Thakur]

Hello All,

1. How can we pay lease deed to the authority. Is multiple cheque (from different a/c) ok or it should be a single Demand Draft? I got a letter from authority.

2. Should I directly visit to authority for payment or I can pay online also?

3. Do we pay separately for registry ?

Regards

Shashi