Residential Lease Deed - Template, Sample Form Online Pro · IN-law
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RESIDENTIAL LEASE DEED
This Lease Deed ("Lease Deed") is made and executed at ________, Andaman and Nicobar Islands on this ________.
BY AND BETWEEN:
________ (Individual), aged ________, holding PAN ________ and Aadhaar No. ________, residing/having its correspondence address at: ________ (hereinafter referred to as the "Lessor", which expression shall, unless repugnant to the context or meaning thereof, mean and include its legal heirs, executors, administrators, successors-in-interest and permitted assigns) of the FIRST PART;
AND
________, aged ________, holding PAN ________ and Aadhaar No. ________, permanent resident of the following address: ________ (hereinafter referred to as the "Lessee", which expression shall, unless repugnant to the context or meaning thereof, mean and include its legal heirs, executors, administrators, successors-in-interest and permitted assigns) of the SECOND PART.
(The Lessor and the Lessee are hereinafter individually referred to as a "Party" and collectively as the "Parties".)
WHEREAS:
A. The Lessor is the absolute owner of, and is in lawful and physical possession of, the residential property located at: ________, more particularly described in the Schedule hereunder (hereinafter called the "Leased Premises"), together with the existing fixtures and fittings therein.
B. The Lessee has approached the Lessor for the grant of a lease in respect of the Leased Premises for residential use, and the Lessor has agreed to grant such lease on the terms and conditions hereinafter appearing.
C. The Parties are now desirous of reducing into writing the terms and conditions governing the lease of the Leased Premises as set forth hereinafter.
NOW THEREFORE THIS LEASE DEED WITNESSETH AND IT IS AGREED BY AND BETWEEN THE PARTIES HERETO AS UNDER, in accordance with the Transfer of Property Act, 1882 and the Indian Contract Act, 1872:
§1. GRANT OF LEASE
1.1. The Lessor hereby grants and demises unto the Lessee the right to enter into, use, occupy and remain in the Leased Premises along with the existing fixtures and fittings, and the Lessee shall be entitled to peacefully possess and enjoy possession of the Leased Premises, together with the other rights granted herein, during the Lease Period.
1.2. It is expressly agreed and declared that this Lease Deed creates the relationship of lessor and lessee within the meaning of Section 105 of the Transfer of Property Act, 1882, and nothing herein shall be construed as a transfer of ownership or any interest in the title of the Leased Premises in favour of the Lessee.
§2. PURPOSE
§3. LEASE RENT
3.1. The Lessee has agreed to pay a monthly rent of Rs. ________ (Rupees ________) in advance on or before the 1st (first) day of each calendar month, by account payee cheque/electronic transfer to the bank account designated by the Lessor.
3.2. The rent shall be subject to an enhancement of ________% on each renewal/anniversary as may be mutually agreed in writing.
3.3. In the event of delay in payment of rent by the Lessee, interest at the rate of ________% per annum shall be payable on the entire outstanding amount from the due date until the actual date of payment.
3.4. The Lessee shall deduct tax at source (TDS) on the rent, where applicable, in accordance with the provisions of the Income-tax Act, 1961, and shall furnish the relevant TDS certificate to the Lessor.
3.5. If default is made in the payment of rent by the Lessee for ________ (________) consecutive months, the Lessor shall be entitled, in addition to other rights and remedies available under this Lease Deed and applicable law, at its sole discretion, to terminate the lease and to re-enter and take possession of the Leased Premises.
3.6. Provided, however, that a written notice shall be given by the Lessor to the Lessee of its intention to terminate the lease and take possession. If the Lessee pays the arrears of rent within 7 (seven) days from the issue of such notice, the Lessor shall not be entitled to terminate the lease. If the arrears are not paid within the said 7 (seven) days, the lease shall stand automatically terminated without any further act on the part of the Lessor.
§4. TERM OF THE LEASE
4.1. The lease of the Leased Premises shall commence on ________ and shall continue for a period of ________ (________) months ("Lease Period"), unless terminated earlier in accordance with the terms hereof.
4.2. Upon expiry of the Lease Period, the lease may be renewed on such terms and conditions as may be mutually agreed in writing, provided that a request for renewal is made by the Lessee at least 2 (two) months before expiry of the Lease Period. If no notice of renewal is issued by the Lessee, the lease shall terminate upon expiry of the Lease Period.
4.3. This Lease Deed shall be compulsorily registered under the Registration Act, 1908 where the Lease Period (including the period of renewal) is for one year or more, and the registration charges shall be borne as provided in §14.2.
§5. SUBLEASE, ASSIGNMENT
5.1. The Lessee shall not sublet, assign, or otherwise part with possession of the Leased Premises, either in part or in full, without the prior written consent of the Lessor. Any assignment, sub-lease or licence without the prior written approval of the Lessor shall be null and void, and in such event the Lessor shall be entitled to terminate the lease at its sole discretion.
5.2. In the event the Lessor permits any subletting in writing, the sub-tenant shall comply with all the terms and conditions of this Lease Deed, and the Lessee shall remain liable for the full performance of the Lease Deed, including the payment of rent.
§6. SECURITY DEPOSIT
6.1. The Lessee has paid to the Lessor an amount of Rs. ________ (Rupees ________) as an interest-free refundable security deposit. The Lessor hereby acknowledges receipt of the said security deposit.
6.3. In the event the Lessor sells the Leased Premises or assigns its rights under this Lease Deed to a third party ("New Lessor"), the security deposit shall also be transferred to the New Lessor, and the Lessor shall thereafter have no liability towards the return of the security deposit to the Lessee.
§7. GAS, WATER, ELECTRICITY AND OTHER UTILITIES
7.1. The Lessee shall pay the electricity, water and other utility charges at actuals directly to the authorities concerned. The relevant meter readings as of the date of this Lease Deed are:
________
§8. TELEPHONE, FAX, AND INTERNET
The Lessee shall have the right to apply for, obtain and install telephone, internet and/or cable connections in the Leased Premises in its own name and at its own cost. The Lessee shall remove such connections and pay all dues thereon on the expiry or earlier termination of the lease.
§9. STRUCTURAL ADDITIONS
9.1. The Lessee shall not carry out any structural additions, modifications or alterations to the Leased Premises without the prior written consent of the Lessor. If the Lessor approves such work in writing and the Lessee intends to engage a contractor, such contractor must also be approved in writing by the Lessor prior to commencement of work.
9.2. The Lessee may install and remove its own fittings and fixtures, provided this is done without causing damage to the Leased Premises. Any such fixtures may be required to be removed by the Lessee, at the Lessor's sole discretion, upon vacation of the Leased Premises.
§10. COMPLIANCE WITH RULES
The Lessee shall comply with all applicable laws, rules and regulations of the local government and statutory authorities in relation to the Leased Premises, including the bye-laws of the building/residential association where the Leased Premises are situated.
§11. POSSESSION
11.1. The Lessee shall be handed over possession of the Leased Premises simultaneously with the execution of this Lease Deed.
11.2. In the event the Lessor is unable to hand over possession on the date specified above due to any unforeseen circumstances, the Lessor shall not be liable for any damages, but the Lessee shall not be liable to pay rent until possession is given.
§12. REPAIRS
The Parties agree that day-to-day repairs such as fuse blowouts, replacement of light bulbs/tubes, leakage of water taps, maintenance of the water pump and other minor repairs shall be carried out by the Lessee at its own cost, and any major repairs, whether structural or to the electrical or water connection, plumbing leaks or water seepage, shall be attended to by the Lessor. If the Lessor fails to carry out such repairs upon receiving written notice from the Lessee, the Lessee may undertake the necessary repairs, and the Lessor shall reimburse the costs reasonably incurred by the Lessee within ________ (________) days.
§13. INSPECTION
The Lessor and/or its authorised personnel shall have the right to enter upon and inspect the Leased Premises or any part thereof, with prior written notice of ________, at any time during the following hours: ________. Provided, however, that in case of an emergency, no prior notice shall be required.
§14. TAXES AND STAMP DUTY
14.1. The Lessor shall be responsible for the payment of property tax and any other municipal taxes pertaining to the Leased Premises during the Lease Period.
14.2. The Parties agree that the stamp duty payable on this Lease Deed under the Indian Stamp Act, 1899 (as applicable to the Andaman and Nicobar Islands) and the registration charges under the Registration Act, 1908 shall be borne by both Parties jointly.
§15. OBLIGATIONS OF LESSEE
15.1. The Lessee shall use the Leased Premises in a careful and responsible manner and shall hand over the same to the Lessor in the same condition, reasonable wear and tear excepted.
15.2. The Lessee shall use and maintain the following fittings and fixtures handed over along with the Leased Premises and shall return the same without any damage other than normal wear and tear:
________
15.3. The Lessee shall not damage the Leased Premises and shall be responsible for any damage sustained to the Leased Premises as a result of any activity on the part of the Lessee's invitees, licensees and/or guests.
15.4. The Lessee shall comply with all obligations imposed upon lessees by applicable provisions of law and the rules of the building/residential association.
15.5. The Lessee shall use and operate all electrical, plumbing, sanitary, ventilating, air-conditioning and other facilities and appliances, including elevators (as applicable), in a reasonable manner.
15.6. The Lessee shall not destroy, deface, damage, impair or remove any part of the Leased Premises or property therein belonging to the Lessor, nor permit any person to do so.
15.7. The Lessee shall conduct himself/herself, and require other persons on the Leased Premises with his/her consent to conduct themselves, in a manner that does not unreasonably disturb the neighbours or cause nuisance.
§16. OBLIGATIONS OF LESSOR
16.1. The Lessor shall ensure that the Leased Premises is in habitable condition and is fit for residential use at the time of handing over possession.
16.2. The Lessor shall ensure that the Lessee, upon paying the rent and performing the terms and conditions herein contained, shall peacefully and quietly hold and enjoy the Leased Premises during the Lease Period without any interruption or disturbance from the Lessor or any person lawfully claiming under or through the Lessor.
§17. REPRESENTATIONS AND WARRANTIES OF THE LESSOR
17.1. The Lessor hereby covenants, warrants and represents with the Lessee as follows:
17.2. Title and Ownership – The Lessor is the absolute owner of and is in lawful possession of the Leased Premises and has full right, power and authority to grant the lease in the manner set out in this Lease Deed.
17.3. No Encumbrances – The Leased Premises is free from all encumbrances, charges, liens, attachments and claims of any nature whatsoever, and there is no impediment in granting the lease to the Lessee.
17.4. Quiet Enjoyment – The Lessee, upon paying the rent and observing the terms and conditions contained herein, shall be entitled to peacefully and quietly possess and enjoy the Leased Premises during the Lease Period without any interruption or disturbance from the Lessor or any person claiming under or through the Lessor.
§18. REPRESENTATIONS AND WARRANTIES OF THE LESSEE
18.1. The Lessee hereby covenants, warrants and represents with the Lessor as follows:
18.2. Lease Rentals – To pay the rent on the due dates and in the manner specified in this Lease Deed and to observe and abide by all the terms and conditions set out herein.
18.3. Handover of Vacant Possession – To hand over vacant possession of the Leased Premises to the Lessor immediately upon expiry of the Lease Period and/or earlier termination of this Lease Deed. The Lessee shall remove all fittings and fixtures installed by it and reinstate the Leased Premises, subject to normal wear and tear.
18.4. Good Condition – To keep the Leased Premises at all times in good condition.
§19. INSURANCE
The Lessor shall be responsible for insuring the structure of the Leased Premises. The Lessee shall be responsible for insuring its own goods, belongings and contents kept within the Leased Premises.
§20. DEFAULT
A breach of any of the terms of this lease by the Lessee which is not cured within a period of ________ from receipt of written notice from the Lessor shall be considered a default under this Lease Deed. Breaches may include, but are not limited to, failure to pay rent, engaging in any unlawful activity, damaging or destroying the Leased Premises or any common areas therein, or violation of any provision of this Lease Deed.
§21. TERMINATION
21.1. The Lessor shall be entitled to terminate the lease in the event of a default committed by the Lessee which is not cured within a period of ________ from the date of receipt of a written notice in that regard from the Lessor.
21.2. The Lessor shall be entitled to terminate this Lease Deed by giving written notice of ________ (________) days to the Lessee of its intention to terminate.
21.3. The Lessee shall be entitled to terminate this Lease Deed by giving written notice of ________ (________) days to the Lessor of its intention to terminate.
21.4. Upon any termination of the lease for any reason whatsoever, the Lessee shall hand over physical vacant possession of the Leased Premises to the Lessor simultaneously with the Lessor refunding to the Lessee the security deposit after adjusting all monies due and payable by the Lessee in terms of this Lease Deed.
21.5. On termination of the lease, whether by efflux of time or otherwise, the Lessee shall quietly and peacefully deliver vacant possession of the Leased Premises to the Lessor in a clean and good condition, subject to normal wear and tear, simultaneously with the Lessor refunding the security deposit after adjusting all monies due and payable by the Lessee.
§22. INDEMNITY
Each Party shall defend, indemnify and hold harmless the other Party from and against any claim, liability, demand, loss, damage, judgment or other obligation or right of action that may arise as a result of the breach by such Party of this Lease Deed, or any misrepresentation made herein.
§23. GOVERNING LAW
This Lease Deed shall be governed by and construed in accordance with the laws of India, and the laws applicable in ________, Andaman and Nicobar Islands shall apply.
§24. ASSIGNMENT BY LESSOR
The Lessor shall be entitled to sell, assign, convey or transfer in any manner its interest in the Leased Premises or its rights and obligations under this Lease Deed to any third party without the written consent of the Lessee, provided that it ensures that the prospective purchaser/assignee agrees to be bound by the terms of this Lease Deed.
§25. AMENDMENT
The terms of this Lease Deed shall not be altered or added to, nor shall anything be omitted therefrom, except by means of a Supplementary Lease Deed in writing duly signed by both Parties hereto.
§26. DISPUTE RESOLUTION
26.1. Except as otherwise specifically provided in this Lease Deed, the following provisions shall apply if any dispute, difference or claim arises between the Parties arising out of or in relation to or in connection with this Lease Deed (the "Dispute").
26.2. A Dispute shall be deemed to arise when one Party serves on the other Party a notice stating the nature of the Dispute (a "Notice of Dispute").
26.3. The Parties shall use all reasonable efforts to resolve the Dispute amicably through negotiations within 30 (thirty) days of the Notice of Dispute.
26.4. If the Dispute is not resolved amicably, the same shall be referred to and finally resolved by arbitration by a sole arbitrator to be mutually appointed by the Parties, in accordance with the provisions of the Arbitration and Conciliation Act, 1996. The seat and venue of arbitration shall be ________ and the language of arbitration shall be English.
26.5. Subject to the foregoing, the courts at ________, Andaman and Nicobar Islands shall have exclusive jurisdiction over any dispute, difference or claim arising out of this Lease Deed.
§27. RIGHT TO MORTGAGE
The Lessor reserves the right to mortgage or otherwise place a lien on the Leased Premises, and the Lessee agrees to accept the Leased Premises subject and subordinate to any such mortgage or lien. In the event the Lessor has already mortgaged the Leased Premises, it shall ensure that it obtains the consent of the mortgagee, if required, for the lease of the Leased Premises.
§28. SPECIAL CONDITIONS
The Lessee agrees that it shall not, without the prior written permission of the Lessor, carry out the following activities in the Leased Premises:
________
§29. NOTICES
29.1. Any notice or other information/document required or authorised by this Lease Deed to be given shall be in writing, in English, and shall be given:
29.2. by delivering it by hand (a written acknowledgement of receipt thereof being sufficient evidence that the notice has been duly given); or
29.3. by sending it by registered post or a nationally recognised courier; or by email to the address of the relevant Party set out below or as specified in the recital of this Lease Deed:
Lessor email: ________; Lessee email: ________
§30. SEVERABILITY
If at any time any provision of this Lease Deed becomes or is held to be illegal, invalid or unenforceable in any respect under any law, the legality, validity or enforceability of the remaining provisions shall not in any way be affected or impaired thereby.
§31. WAIVER
No failure on the part of either Party to exercise, and no delay in exercising, any right hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right preclude any other or future exercise thereof. The remedies herein are cumulative and not exclusive of any remedies provided by law.
§32. FORCE MAJEURE
Neither Party shall be liable for any failure or delay in performance of its obligations (other than the payment of monies due) caused by events beyond its reasonable control, including acts of God, floods, earthquakes, epidemics, pandemics, governmental orders, war or civil disturbance.
§33. COUNTERPARTS
This Lease Deed may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
SCHEDULE (Description of the Leased Premises)
________
IN WITNESS WHEREOF, the Parties hereto have set their respective hands to this Lease Deed on the day, month and year first hereinabove written.
___________________________
________ (LESSOR)
___________________________
________ (LESSEE)
WITNESSES:
1. Name: ________, Address: ________, Signature: ___________________________
2. Name: ________, Address: ________, Signature: ___________________________
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