PROPERTY LEASE AGREEMENT

This Property Lease Agreement (“Agreement”) is executed on {{f1_date}} (“Effective Date”).

PARTIES

{{f2_name_of_lessor}}, residing at {{f3_address_of_lessor}} (“Lessor”);

{{f4_name_of_lessee}}, residing at {{f5_address_of_lessee}} (“Lessee”).

The Lessor and the Lessee are hereinafter individually referred to as a “Party” and collectively as the “Parties”.

1. DEMISED PREMISES

1.1. The Lessor hereby leases to the Lessee the immovable property described below (“Premises”):

{{f6_complete_description_of_property_including_address_municipal_number_floor_super_built_up_area_and_boundaries}}

1.2. The Premises shall be used exclusively for {{f7_purpose_residential_commercial_specific_use}} and for no other purpose whatsoever.

2. TERM

2.1. The lease shall commence on {{f8_lease_commencement_date}} and shall continue for a period of {{f9_lease_term}} (“Term”), unless terminated earlier in accordance with this Agreement.

2.2. Upon expiry of the Term, the Lessee shall vacate the Premises unless a fresh lease deed is executed and registered.

3. RENT

3.1. The Lessee shall pay to the Lessor a monthly rent of INR {{f10_rent_amount}} (“Rent”).

3.2. Rent shall be payable in advance on or before the {{f11_day_of_month}} of each English calendar month.

3.3. Rent shall be paid by {{f12_mode_of_payment_bank_transfer_cheque}} to the account designated by the Lessor.

3.4. Any delay beyond {{f13_number}} days shall attract interest at {{f14_rate}} per annum.

4. SECURITY DEPOSIT

4.1. The Lessee has paid a refundable security deposit of INR {{f15_security_deposit_amount}} (“Deposit”).

4.2. The Deposit shall be refunded within {{f16_number}} days from the date of vacant handover, after adjustment of:
(a) unpaid Rent;
(b) utility dues;
(c) damage beyond normal wear and tear.

4.3. No interest shall be payable on the Deposit.

5. MAINTENANCE, TAXES, AND UTILITIES

5.1. The Lessee shall bear and pay:
(a) electricity, water, gas, internet, and other consumption-based charges;
(b) society maintenance charges attributable to occupation.

5.2. Property tax and municipal levies shall be borne by the {{f17_lessor_lessee}}.

6. USE, RESTRICTIONS, AND COMPLIANCE

6.1. The Lessee shall:
(a) keep the Premises in good, tenantable condition;
(b) not make structural alterations or additions without prior written consent;
(c) not sublet, license, assign, or part with possession;
(d) not use the Premises for any illegal or prohibited activity.

6.2. The Lessee shall comply with all applicable laws, municipal regulations, and society bye-laws.

7. INSPECTION AND ENTRY

7.1. The Lessor or authorised representative may enter the Premises upon {{f18_number}} hours’ prior notice for inspection, repairs, or prospective leasing.

7.2. In case of emergency, entry may be made without notice.

8. REPAIRS AND DAMAGE

8.1. Structural repairs shall be the responsibility of the Lessor.

8.2. Non-structural, routine, and day-to-day repairs shall be the responsibility of the Lessee.

8.3. Damage caused due to negligence or misuse shall be rectified at the Lessee’s cost.

9. LOCK-IN (IF APPLICABLE)

9.1. The Parties agree to a lock-in period of {{f19_lock_in_period_nil}}, during which termination shall not be permitted except for material breach.

10. TERMINATION

10.1. Either Party may terminate this Agreement by giving {{f20_notice_period}} written notice.

10.2. The Lessor may terminate immediately upon:
(a) non-payment of Rent beyond {{f21_number}} days;
(b) unauthorised subletting or misuse;
(c) material breach of this Agreement.

11. VACATION AND HOLDING OVER

11.1. Upon termination or expiry, the Lessee shall hand over vacant and peaceful possession.

11.2. Any unauthorised holding over shall attract damages at INR {{f22_amount}} per day, without creating any tenancy rights.

12. FORCE MAJEURE

12.1. Neither Party shall be liable for failure due to events beyond reasonable control, excluding payment obligations.

13. INDEMNITY

13.1. The Lessee shall indemnify the Lessor against losses arising from breach, misuse, or illegal occupation of the Premises.

14. REGISTRATION AND STAMP DUTY

14.1. Stamp duty and registration charges shall be borne by {{f23_party_sharing_ratio}}.

14.2. This Agreement shall be registered, wherever required, under applicable law.

15. GOVERNING LAW AND JURISDICTION

15.1. This Agreement shall be governed by the laws of India.

15.2. Courts at {{f24_city_state}} shall have exclusive jurisdiction.

16. ENTIRE AGREEMENT

16.1. This Agreement constitutes the entire understanding between the Parties and supersedes all prior arrangements.

17. AMENDMENT

17.1. Any amendment shall be valid only if made in writing and signed by both Parties.

EXECUTION

IN WITNESS WHEREOF, the Parties have executed this Agreement on the date first written above.

Lessor
Name: {{f25_name}}
Signature: _______________________
Date: {{f26_date}}

Lessee
Name: {{f27_name}}
Signature: _______________________
Date: {{f28_date}}

Property Lease Agreement

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