Re: [YERWA:4607] : Re: [YEIDA:34929] : What is Lease Rent & ATL?

[Safal Suri (Gmail)]

Sir, I have many times in detail about this. Please read my earlier posts on this topic. You'll find answer to your question.

Regards

Safal Suri

Sent from my Samsung device

-------- Original message --------
From: "'PRAMOD NIGAM' via YEIDA (Yamuna Expressway Industrial Development Area)" <ye...@googlegroups.com>
Date: 05/08/2017 2:24 p.m. (GMT+05:30)
To: ye...@googlegroups.com, Google Group YEIDA <ye...@googlegroups.com>
Cc: Nagendra Singh <nagen...@gmail.com>
Subject: Re: [YERWA:4607] : Re: [YEIDA:34929] : What is Lease Rent & ATL?

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 

On Saturday, August 5, 2017, 12:25:12 PM GMT+5:30, Safal Suri (gmail.com) <safa...@gmail.com> wrote:

 

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

 

 

On Aug 5, 2017 11:07 AM, "Safal Suri (Gmail)" <safa...@gmail.com> wrote:

 

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

 

Regards,

 

Safal Suri

 

 

 

Sent from my Samsung device

-------- Original message --------

From: Nagendra Singh <nagen...@gmail.com>
Date: 05/08/2017 10:24 a.m. (GMT+05:30)
To: ye...@googlegroups.com

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

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

 

On Aug 5, 2017 9:53 AM, "Safal Suri (Gmail)" <safa...@gmail.com> wrote:

 

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

-------- Original message --------
From: amit mathur <amit.m...@gmail.com>
Date: 05/08/2017 8:24 a.m. (GMT+05:30)
To: ye...@googlegroups.com
Subject: Re: [YEIDA:34913] : What is Lease Rent & ATL?

Dear Safal ji,

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

Thanks

Amit

On 8/4/17, Nagendra Singh <nagen...@gmail.com> wrote:
> 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
>
>
>
> On Aug 4, 2017 2:11 PM, "Safal Suri (Gmail)" <safa...@gmail.com> wrote:
>
>>
>> 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
>>
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>>
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>> on +91-9811182828
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[Safal Suri (Gmail)]

Written many times in detail...

[Hardyal Singh]

Thanks for detailed information Safal.

Best wishes,

Hardyal

[Jai Prakash]

Dear Safalji,

I paid entire allotment money in one go in 2010 & all extra compensation installments till date.

As u stated, I need to pay :-

Lease Rent-- 168150/-

Stamp Papers--367500/-

Is this correct or not?

Cost of papers is more than rent.. Any comments on dat

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[Udipta Gupta]

I think that figure for stamp paper is considering if you are not original allotee.

Please check it once.

-- Udipta Gupta.