On lease including an under-lease
or sub-lease and any agreement to let or sub-let, any renewal of lease,
(i) Where by such lease, the rent is fixed and no premium is
paid or delivered:
For term of lease less than
one year
Two rupees for every 100 rupees
or part thereof for first Rs. 1,000/-. Ten rupees for every 500 rupees or part
thereof in excess of Rs. 1,000/-
For term not less than one
year, but not more than five years
Two rupees for
every 100 rupees or part thereof for first Rs. 1,000/-. Ten rupees for every
500 rupees or part thereof in excess of Rs. 1,000/- for the whole amount or
value of the average annual rent reserved.
For term exceeding five years,
but not exceeding ten years
5 % of the market value of the
property or 1 and ½ times of annual average rent, which ever is higher
For term exceeding ten years,
but not exceeding twenty years
5 % of the market value of the
property or 3 times of annual average rent, which ever is higher
For term exceeding twenty
years, but not exceeding thirty years
5 % of the market value of the
property or 5 times of annual average rent, which ever is higher
For term exceeding thirty
years
5 % of the market value of the
property or 10 times of annual average rent, which ever is higher
(ii) Where lease is granted for a fine or premium or for
money advanced and where no rent is reserved
5 % of the market value of the
property or the amount of such fine or advanced as set forth in the lease, which
ever is higher
(iii) Where the lease is granted
for a fine or premium or for money advanced in addition to the rent reserved
5 % of the market value of the
property or the fine or premium or advanced paid or delivered, which ever is
higher
However when
an agreement to lease is stamped with the ad valorem stamp required for a lease
and a lease in pursuance of such agreement is subsequently executed; the duty
on such lease shall not exceed one hundred rupees.
(iv) Where the lessee is to make
over the improvements, if any, to the lessor, on termination of lease for term
exceeding thirty years and of the nature mentioned in serial number (ii) and
(iii) above
5% of the value of improvement in
addition to the duty mentioned in respect thereof.
For exemptions and other details please refer to Schedule IA
of the Indian Stamp Act, 1899, as applicable to Andhra Pradesh.
Also see
Stamp Duty in Andhra Pradesh