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Leease - 6.1.2016
Leease - 6.1.2016
2. That the electricity, water bills will be paid according to the meter
reading besides than the aforesaid license fee of the premises by
the Licensee.
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3. That the License Agreement is for a period of 5 years from the
period starting from 1.11.2015.
4. That the rent shall increase @5% every year during the terms of
this Leave and License agreement.
5. That the Licensee with replace and make good all breakages,
deficiency and damage to the fittings and fixtures which may
happen during the period of the tenancy except natural wear and
tear damages by the acts of God.
6. That the Licensee shall not make any alteration or addition in the
said premises, without obtaining prior written permission from the
Licensor.
7. That if any of the above said terms and conditions are violated by
the Licensee in any case then this Leave and License agreement
shall stand terminated and cancelled. However the Licensee shall
pay the Monthly license fee for the unexpired period.
8. That the Licensee will not sublet, assign or otherwise part with the
possession of a part or whole of the premises hereby rented.
9. That the Licensor shall always permit the Licensor or any of his
authorized agent or representation to enter into the said premises
for inspection or to carry out repairs, at any reasonable time,
whenever deemed necessary by the Licensor.
10. That the Licensee will not change the structure of the said
premise of the Licensee in any manner.
11. That the Licensee will keep and maintain the said premises neat
and clean and in tenable condition at her own cost.
12. That the Lease cannot be terminated even before the expiry of
Leave and License period, by either party. The Leave and License
period will be lock in period.
13. That the Licensee shall pay the electricity, water as per sub
meter/meter reading to the Licensor.
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14. That the Licensee shall be responsible to attend all the minor
day to day repairs such as fuses or bulbs and tubes,
leakages/replacement of water taps etc., at her own cost but the
major repairs shall be attended by the Licensor at his own cost.
15. That the Licensee will use the
Commercial/residensial purpose only.
premises
only
for
the
16. That the Licensee shall abide by all the byelaws, rules and
regulations of the civil/concerned local/society authority, in
respect of the said premises. The Licensee shall maintain peace
and harmony and shall abide by the rules and regulations
including civil and criminal law as amended from time to time.
17. That if the Licensee fails to pay the monthly license fee to the
Licensor as hereby agreed upon in time, the Leave and License
agreement will be terminated automatically and the Licensor shall
have the possession of the said premises in his/her control without
any process of law and the Licensee shall have no objection to the
same and shall also not have any claim over her goods lying in the
said premises at such time equivalent to the amount of rent.
18. That after the expiry of said Leave and License period or earlier
termination of this Leave and License, the Licensee shall hand over
the actually, peaceful, vacant and physical possession of the
premises along with all fittings and fixtures installed there in good
and working condition to the Licensor as the Licensee received at
the time of commencement of this Leave and License Agreement.
19. That in case of any dispute that may arise between both the
parties, such dispute shall be referred to the jurisdiction of
Chennai courts only.
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20. That the Leave and License period is of 5 years and the rent of
the aforesaid premises is Rs.30,000/- per month which will
increase @ 5% every year, as such first year annual rent will be
Rs.3,60,000/-, the second year rent after increment of 5% will be
Rs.31,500/- and according to which the annual rent will be
Rs.3,78,000/- the third year rent after increment of 5% will be
Rs.33,075/- and according to which the annual rent will be
Rs.3,96,900/- the Fourth year rent after increment of 5% will be
Rs.34,729/- and according to which the annual rent will be
Rs.4,16,748/- the Fifth Year rent after increment of 5% will be
Rs.36,465/- and according to which the annual rent will be
Rs.4,37,580/- hence the total five years rent will be Rs.19,89,228/SCHEDULE OF PROPERTY
All that piece and parcel of Land and Building bearing Plot No.14,
in Balakrishna Nagar, Extn., 3rd Main Road, Velachery, Chennai 600
042, Measuring an extent of 1785 sq.ft., of land, Comprised in Old
Survey No.316/6A, New Survey No. 316/98, Situated at No.137,
Velachery Village, Mambalam Guindy Taluk, now Velachery Taluk,
Chennai District, Chennai Corporation Limits, and with in the
Registration District of Chennai South and Sub Registration District
of Velachery and
Bounded on the
North by
: Survey No.306
South by
East by
West by
: Plot No.15
And admeasuring
34 feet
30 Feet
67 Feet
42 Feet
AMIT D GUPTA
Licensor
2.