Housing Launches Online Rental Agreements - A First for India

Bangalore : Housing.com, India’s premier real estate portal, today announced the launch of ‘Rental Agreement’ product for its Bangalore users.Housing’s ‘Rental Agreement’ product helps people create and customize an agreement from wherever they are. All one needs is the internet. Users give inputs like rent, property area, security deposit, facilities available etc. and whenever required can also review the clauses in the background.

 The unique feature of Housing Rental Agreement is that Housing.com pays stamp duty on the behalf of tenants and landlords, and delivers the e-stamped rental agreement at their doorstep within just 48 hours! The platform also has an e-stamp calculator that ensures users pay the correct stamp-duty.

 Co-Founder, Advitiya Sharma says “People spend 4 hours on average at the registration office trying to get their Rental Agreement paperwork done. From a national perspective that’s  30,000 mandays of productivity gone down the drain annually! Housing Rental Agreement will let people do the same thing online, in just 5 minutes.”

 Finding a house is tough. Finding one you love is even tougher. But the bigger problems come in post zeroing in on your property - in the form of mind-numbing legalities. Real Estate transactions are full of paperwork and confusing legal documents that forces tenants and landlords to spend days trying to get their agreements from the registration office. In India over 500,000 houses go on rent every month, and legally require a Rental Agreement after the transaction takes place.   Housing’s ‘Rental Agreement’ product aims to resolve issues like these and make house hunting a very simple and smooth experience for individuals.

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