India, Nov. 15 -- The state cabinet approved a proposal to relax norms of the Uttar Pradesh Regulation of Urban Premises Regulation Act 2021 and encourage the tenants and building owners to register rent agreements with a drastic cut in stamp duty and registration fees. As rent agreements are generally not registered and often signed for 11 months to avoid stamp duty or other fees, the state cabinet has decided to fix an amount for levying stamp duty and charging the registration fee. As of now, the rent agreements for a one-year term with an annual rent value up to Rs.2 lakh attract a 4% stamp duty-2% as base duty and 2% as additional duty-amounting to around Rs.8,000. Now, a flat sum of Rs. 500 would be charged on rent agreements on a rent of up to Rs. 2 lakh for one year, Rs.1500 for one year to five years and Rs. 2000 for rent agreements signed for more than five years to 10 years. In case of rent value of Rs. 2 lakh to Rs.6 lakh, Rs.1500 would be charged on agreement up to one year, Rs. 4500 on rent agreements valid for more than one year to five years and Rs. 7500 on agreements for five to 10 years. A sum of Rs. 2500 would be charged as stamp duty on rent agreements of Rs. 6 lakh to Rs. 10 lakh for one year. This would be Rs. 6000 on rent agreements for one to five years and Rs.10,000 on rent agreements for more than five years to 10 years. A maximum registration fee equivalent to stamp duty would also be payable in every category....