20,00,000/-. (b) Where such leave and license agreement purports to be for a period exceeding 60 months with or without renewal clause; Same duty as is leviable on lease, under clause (ii), (iii) or (iv), as the case may be, of Article 36. However, once the market value of a property crosses over Rs.30 Lakh, the buyer is required to pay 1% of the market value as the . 50,00,000. More. Explanation I-For the purpose of clause (b),''Securities means the securities as defined in clause (h) of section 2 of the Securities Contract (Regulations) Act 1956. (iii) for a period exceeding 10 years but not exceeding 29 years, with a renewal clause contingent or otherwise. // -->