Difference between Notary and Online Registered Rent Agreement

Difference between Notary and Online Registered Rent Agreement

A) Authority:

i) Rent agreement can be done through online and offline mode. Notarised agreement can be made by purchasing stamp paper and filling it with content of the agreement. Agreement is validated once it is signed by notary. Notarised agreements doesn’t have any importance in the judiciary.

ii) whereas, Registered Online Rent Agreement goes through valid process defined by law. In this process required information is provided and photographs are uploaded with valid address proof and identity proof. Hence registered online rent agreement has a lawful backing and stands valid in the court of law.

B) Process:

i) Making online rent agreement is made easy by the govt. Tenant and owner can follow few simple steps to get their agreement done. Agreement can be done on govt. website using scanning device to scan photographs of the parties. Process of agreement may take 48 hours to get it done. Draft of the agreement can be downloaded from website.

b) Offline rent agreements in Pune and PCMC can be done at the Sub Registrar Office. All required information is provided to the Registrar Office when owner and tenant are present at the office. Scanned photographs are taken at the Registrar office itself. Owner and tenant has to be present during Rent Agreement.

C) Cost:

Both processes makes sure that all the formalities are carried out

  1. There is a distinction between registered online rent agreement and notarised rent agreement. Notarised rent agreement cost around 1500 to 2000. Making Online rent agreement in pune may cost 2800 to 3200. (depending upon the stamp duty charges and the rent agreement charges)

D) Time:

Notarised rent agreement can be made in 2 to 3 hours whereas Registered online rent agreement in Pune takes around 24 to 48 hours.

E) Involvement of a Lawyer:

A lawyer is not needed while making Notarised rent agreement. Whatever needed is just stamp paper and assent from the notary. However it is recommended to make a registered online rent agreement (leave and licence agreement) in presence of a lawyer (especially while making an offline registered rent agreement).

 

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