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In the rent agreement cost of stamp paper need to be 2% of annual rental amount and Rs1100 is fee for registering the lease agreement. It is said that rent agreement on Rs100 stamp paper is not considered as evidence for legal action in default. One month to 15 days rental extra is charged by renting agents.
To save above expanses AOA may consider assisting /executing rental agreement on Rs100 stamp paper with undertaking that in case of default AOA shall help vacate the flat by stopping water/electricity and in return get 50% of cash advantage to flat owners. It may be noted as per aoa approved by laws flat owners are required to pay 1/2% of sale value of flat as and when they sale their flat.