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Lease agreement format for commercial property. Rent agreement format for office space

Format of lease agreement for office space is given below. If the lease agreement is for less than 11 months it need not be registered. If the rent agreement is for more than 11 months it is to be registered with the Sub-Registrar in the particular area. Lease Deed for 11 months can be prepared on Rs. 100/- stamp paper.

LEASE DEED

This Lease Deed made at New Delhi ___ day of ____ between Mr/Ms.____ son/daughter of ____ Resident of ____________________, (hereinafter referred to as “The Lessor”) which terms shall include their heirs, successors legal representatives and assigns of the One Part.

AND

Mr/Ms_______Son/daughter of ______________________, resident of _____________________________________, (hereinafter  referred to as “ the Lessee”) which team shall include her legal representatives and assigns of the Other Part.

A.  The Lessor is the lawful owner and is well seized and possessed of or otherwise well and sufficiently entitled to all the Flat No- _____ admeasuring ______ sq.ft. situated at ___________________, (hereinafter called “ The Said Flat”) fully desired in the schedule written hereunder.

B.  The Lessor has agreed to let out the said flat and the Lessee has agreed to take the said flat on rent from the Lessor on the following terms. Conditions and covenants”

C. The Lessee shall be responsible for payment of maintenance cum fire fighting charges as per bills to the builder & BSES or concerned electricity company and any other civic authorities as may be demanded from time to time till vocation and furnish the last paid bills to the Lessor at the times of vocation / handing over of the flat”

NOW THIS AGREEMENT OF LEASE WITNESSETH AS UNDER:-

1. That in consideration of the rent received herein and of the due observance and performance of the terms” conditions and covenants “ observed “ performed and fulfilled by the Lessor and the Lessee , the Lessor do hereby grant unto and in favour of Lessee “ the Lease of the Flat No’ ___________, admeasuring ______sq. ft, situated at _______________________________, hereinafter referred to as “The Said Flat” fully described in the schedule written hereunder, at a monthly rent of Rs.________/- ( Rupees ____________________only) per month to be paid by Cheque/ Cash in advance by the ____ day of each calendar month w.e.f. _______

2. That this lease is valid for a period of One Year effective from __/__/____ to __/__/____, rent will be increase by _% after every year. This may be extended by mutual consent of both parties.

3. That the Lessee shall use the said flat for commercial purposes i.e. for their office”.

4. That Lessee shall always handover on demand the copy of the paid bills showing payment of electricity and maintenance cum- water charges for the records and reference of the Lessor within reasonable period of his payment “The Lessor” shall not be responsible for receipt or payment of bills or disconnection in case of default of payment.

5. That the Lessor shall be liable to pay all the taxes , ground rent, house tax, other charges payable to Delhi Municipal Corporation government or any local authority in respect of the said flat.

6. That the Lessee shall pay Rs. ____/- (Rupees __________only) as interest free security to the Lessor against a proper receipt refundable at the time of handover peaceful vacant possession of demised premises/space when the Lease Agreement comes to an end and the Lessee has removed all his goods and effects and on clearance of all dues.

7. That the Lessee agrees to permit the Lessor and his authorized representatives at all times to inspect the demised flat during normal working hours.

8. That the Lessee shall keep and maintain the demised flat in good, proper and tenable condition at his own cost.

9. That the Lessee shall be at liberty to construct or erect temporary wooden walls or floors and install air-conditioners at his own costs and also make all changes necessary for furnishing the same or for creating conveniences of facilities without any structural changes and on termination of the lease to restore the flat to its original conditions.

10. That the Lessee shall peacefully deliver vacant possession of the said flat to the Lessor at the expiry or earlier termination of this lease, Lessor shall thereafter refund the security deposit after deducting any unpaid dues for utilities & rent.

11. That the Lessor shall grant and ensure, uninterrupted and unhindered ingress to and egress from the said premises at all the times during the terms of the lease and also ensure unhindered and uninterrupted use of common areas main gates, stairs, passage, public utilities etc.

12. That the Lessee shall not assign, sublet or under let or part with the possession of the demised flat or any part thereof for any reason “whatsoever”.

13. That before handing over vacant and peaceful possession to the Lessor, the Lessee shall have the right to remove all furniture, fixtures and fittings etc. Installed by them in the said flat to restore the premises to its original conditions reasonable wear and tear excerpted.

14. That the Lessee in addition to the above referred monthly rent and other expenses, pay to the builder all maintenance charge in proportion to the area covered as determined by the management agency etc. Towards common services charges, such as running expenses of the operations of the lift, lighting of the common passage, maintenance of sanitary conditions, common security arrangements firefighting equipment etc.

15. That the Lessee shall be entailed to terminated this lease by giving two (2) months notice in writing to the Lessor or rent in then thereof, any notice sent by registered A/D/Courier/hand delivery at the address of the Lessor shall be deemed to have been  duly served for the purpose of this clause. Likewise Lessor shall be entitled to terminate to terminate this leave by giving two months notice to the Lessee in writing at his residential address.

16. That the major repair such as major cracks in walls or any other structural defects in the demised flat shall be the liability and responsibility and responsibility of the Lessor internal repairs including electricity sanitary, plumbing, painting and minor repairs will be done by the Lessee at their own cost.

17. That the lease shall be registered with the office of the Sub-Registrar, New Delhi and expenditure shall be shared equally be Lessor and Lessee.

18. That the Lessor have represented to the Lessee that the said flat is free from all encumbrances and Lessor have a clear and undisputed right to the said flat and the Lessor shall keep the Lessee indemnified from all losses & damages that Lessee may suffer because of any defect and/or because of any dispossession from the said flat. Likewise Lessee shall keep the Lessor indemnified against any misuse of the said flat.

19. That if the Lessee fails to handover vacant and peaceful possession of the said flat back to the Lessor after expiry of this lease. The Lessee shall pay a liquidated damage @ Rs. ___/- (Rupees ________only) per month, the parties hereby agree with the same to be reasonable and the same shall be paid with 18% interest thereon till vacant peaceful possession of the said flat is restored to the Lessor.

20. That any dispute or discrepancies arising out of this agreement shall be subject to the jurisdiction of the courts at Delhi.

SCHEDULE ABOVE REFERRED TO:-
All that Flat _____, Admeasuring _____Sq.Ft” situated at ___________________, comprising of .

IN WITNESSES WHEREOF, THE PARTIES HERETO HAVE EXECUTED THESE PRESENTS OF THE DAY, MONTH AND YEAR ABOVE WRITTEN.

LESSOR

1.

LESSEE

2.

 
 

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