COMMERCIAL LEASE AGREEMENT
This Agreement is made on [Date] between [Lessor] and [Lessee]
- Parties. This Lease is executed between [Owner Name/Firm], having its address at [Address] (the "Lessor") and [Business Name], through its authorised signatory [Name], having office at [Address] (the "Lessee").
- Property Description. The Lessor leases the commercial premises at [Unit No., Building, Locality, City], admeasuring [Area] sq. ft. carpet area, with [No.] car-parking slots.
- Term / Duration. The lease is for [3 / 5 / 9] years commencing [Start Date], with the option to renew for a further term on revised terms.
- Rent & Escalation. Monthly rent of Rs. [Amount] plus applicable GST, payable in advance by the [5th] of each month, with escalation of [15]% every 3 years.
- Security Deposit. An interest-free refundable deposit of Rs. [Amount] (equal to [X] months' rent) is paid, refundable on handover after deducting dues and damages.
- Use. The premises shall be used only for [nature of business] and for no illegal or hazardous purpose, in compliance with applicable licences.
- Maintenance. Internal maintenance and common-area maintenance (CAM) charges shall be borne by the Lessee; structural repairs by the Lessor.
- Utilities. Electricity, water, power backup and internet charges shall be paid by the Lessee as per actual usage and separate meters.
- Lock-in. A lock-in period of [36 months] applies; early exit within lock-in attracts forfeiture of deposit/balance rent for the lock-in.
- Notice. After lock-in, either party may terminate by [three] months' written notice.
- Termination. The Lessor may terminate on default in rent for [two] months, breach of terms, or unauthorised alteration/sub-letting.
- Stamp Duty & Registration. This Lease shall be compulsorily registered; stamp duty and registration fees shall be shared/borne by [Lessee] per the State Stamp Act.
- Governing Law. This Agreement is governed by Indian law and subject to courts at [City].
IN WITNESS WHEREOF the parties have executed this Lease on the date first written above.
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[Lessor]
[Lessor]
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[Lessee]
[Lessee]
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Witness 1: [Name & Address]
Witness 1: [Name & Address]
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Witness 2: [Name & Address]
Witness 2: [Name & Address]