image_pdfSave to PDF

RENTAL AGREEMENT

This RENTAL AGREEMENT made and executed at Bangalore this the 17th day of July 2025

BETWEEN

M/s  Company Ltd  , PAN ____________ represented by its Director and Authorized Signatory Mr. Sample  S/o ___________________ aged 54 years, and having its office at 15, Habitat, 2nd Main Road, Perungudi, Chennai – 600096.

(Hereinafter referred to as THE LESSEE which expression shall mean and include their heirs, executors, administrators, legal representatives and assigns etc.,) of the OTHERPART:

WHEREAS the LESSOR is the absolute owner of the office premises together with undivided share of the land and building (Commercial Space) situated at (PREMISES ADDRESS)  measuring an area of 1500 Sq.ft and thereabouts  (which is more fully and particularly described in the schedule hereunder referred as “THE SCHEDULED PREMISES”)

WHEREAS The LESSEE approached the LESSOR with a request to the aforesaid premises measuring 1500 sq.ft  plinth area of bare shell space  for a period commencing from 17th July 2025 and the LESSOR has agreed to the said request.

NOW THIS RENTAL LEASE AGREEMENT WITNESSETH AS FOLLOWS:

1) RENT:

The LESSEE shall pay a monthly rent of INR 75000/- (SEVENTY-FIVE THOUSAND ONLY) for the premises measuring about 1500 sq.ft. The payment shall be made on or before 5th day of every succeeding month for which the rent is due, subject to statutory deductions including TDS at applicable rates.

The LESSEE shall bear the Govt. Applicable GST on the above-mentioned monthly rental from the date on which the LESSOR provides LESSEE with the GST Registration number. The LESSOR shall raise invoice for every month to LESSEE for rent along with Govt.applicable GST.

2) DEPOSIT:

 The LESSEE shall keep with the LESSOR a sum of INR (AMOUNT)– as security deposit during the continuance of the lease and / or any extension thereof and shall be repaid to the LESSEE free of interest at the end of the period of the lease and / or any extension thereof earlier termination. The LESSOR agrees to repay the security deposit the LESSE immediately on the LESSEE handing over the vacant possession of the premises to the LESSOR on expiry or earlier termination of this agreement of lease.

3) ENHANCEMENT:

 The parties have agreed to a 6 (Six) percent escalation to lease rental for the first year and 7.5% percent escalation for the subsequent period. To put it more clearly, the lease rental payable by the LESSEE to the LESSOR shall be as follow

A)From 01.08.2025 to 31.07.2026- Monthly lease rent payable shall be Rs.75,000/- Per month

B)From 01.08.2026 to 31.07.2027 – Monthly lease rent payable shall be Rs.79,500.0/- per month

C)From 01.08.2027 to 31.07.2028 – Monthly lease rent payable shall be Rs.85,462.5/- per month

4) DURATION:

The Lease shall commence on or from the 17th July 2025 and shall be in force initially for a period of 11 (Eleven) months and can be renewable according to the mutual understanding of both the parties.

The Lessor shall provide a rent-free period to the lessee for the duration beginning 17.07.2025 and ending 31.07.2025 for interior decoration/ fittings purpose. Monthly lease rental shall be paid by the lessee commencing 01.08.2025

5) NATURE OF THE PERMITTED:

The LESSEE shall be entitled and permitted to use the schedule premises for commercial (Studio/ Office) purposes only arid shall not use or permit the use of the schedule premises for any unlawful purposes likely to endanger or cause inconvenience of any sort of the neighbors.

6) TAXES, DEPOSITS, ASSESSMENT CHARGES:

The LESSOR shall pay the taxes, deposits, assessment charges and other outgoings whatsoever of every description including corporation charges which under the statute are primarily leviable unto the LESSOR and shall keep the premises free from all encumbrance.

7) ELECTRICITY & WATER CHARGES:

a. The LESSEE shall bear the electricity and water charges except for corporation tax or cess or any other tax etc. in respect of the premises occupied by it from the date of occupation till vacation and the LESSOR shall pay and discharge all Government, corporation, municipal taxes and assessments in respect of the demised premises.

b.The LESSEE shall pay for generator maintenance of INR 5,000 /- (Rupees Five Thousand Only) every month to the LESSOR without All major services in the Generator would be borne by the LESSOR. The Diesel expenses for the Generator set shall be on sharing basis the actual consumption.

 c. The LESSOR herein states that they shall co-operate with LESSEE for obtaining the necessary permissions from the Government departments for increased electricity load, if the same is required. Subject to the LESSEE paying the fee/deposits or other charges that shall be payable to the concerned authorities, and without affecting the rights and interest of the LESSOR or value of the leased premises any manner. The LESSOR further clarifies that it shall cooperate with the Lesse to obtain the refund of such fee’s/deposits/, when the LESSEE vacates the premises.

8) LESSOR COVENANTS:

  1. The LESSOR hereby agrees that firms, entities, which are subsidiaries, associates, affiliates of the LESSEE and or its parent/ holding company shall be entitled to use its premises, without the LESSOR prior permission. From the LESSOR, to the LESSEE’s subsidiaries, associates, affiliates or holding company.
  2. The LESSEE shall not be entitled to carry out any structural alterations to the premises without the consent of the LESSOR. The LESSOR however agrees that the LESSEE shall be entitled to build cabins and make shift rooms, install their own furniture, fittings, fixtures, interior decoration, computers, air conditioners, generator in the leased premises and shall take away at the same time of vacating the premises.
  3. The LESSOR hereby unconditionally agree that they shall permit the LESSEE to display its Boarding’s corporate name address, signs, neon boards and symbols conspicuously, in the premises for such purposes as may be required by the LESSEE in the normal course of their business.
  4. The LESSOR shall do the painting works of the exterior once in every three years during the period of lease.The LESSOR herein confirms that the LESSEE shall be entitle to 2 reserved open car and 1o reserved open two-wheeler parking space in the overall complex in which the schedule premises is located and to which the LESSOR is entitled to.
  5. The LESSOR  hereby unconditionally agree that the LESSEE, its employees, agents, authorized persons, shall have unrestricted access to  the common areas, lifts, staircase etc. in the premises and the LESSOR hereby confirms that the Lesse on paying the agreed rent shall be entitled to peaceful possession and quite enjoyment of the premises with 24 X7 access  during the term of the lease free from any interference ,objections, evictions, claim, or any person lawfully or equitable claiming by, of from ,under or in trust of the LESSOR and or any Govt. Authority. Th e LESSOR shall duly observe and perform the obligations on his part herein contained and shall extend all its operations to enable the LESSEE to fulfil the terms and conditions, and obligation on its part contained herein.

9) SUBLEASE:

The LESSEE shall not entitled or permitted to assign, underlet or sublet the scheduled premises or any part thereof or part with possession of the demised property or any part thereof to anybody whatsoever.

10) MAINTENANCE:

The LESSEE shall keep the scheduled premises in a fit and proper state subject to normal wear and tear by day-to-day maintenance including the fittings & fixtures etc.,

11) TERMINATION OF THE LEASE:

The Lease shall be determinable under all or any of the following circumstances, namely:

  1. By efflux of time;
  2. In the event of non-payment of rent by the LESSEE for a period of THREE consecutive months;
  3. In the event of breach by either party of terms, conditions and covenants hereof;
  4. By giving THREE months prior notice from either party;

12) JURISDICTION

The Agreement shall be construed, interpreted, and governed by the laws of Republic of India and the Courts in Bengaluru shall only have exclusive jurisdiction to settle any matter arising out of this Agreement.

The LESSOR has this day put the LESSEE into possession of the demised premises.

 

 

SCHEDULE OF PROPERTY

 

The PREMISES ADDRESS), with electricity and water facilities.

IN WITNESS WHEREOF the parties have hereunto set and subscribed their respective hands on the day, month and year first above written.

WITNESSES:

1.                                                                                                                                      LESSOR

2.                                                                                                                                      LESSEE