Format of Lease Deed; Pdf and Draft

In this article we are providing you format of lease deed which will help you to understand the lease and its condition.

Format of Lease Deed

Lease Deed

THIS INDENTURE made at _________ on this ________ day of _________ 20_____ BETWEEN ABC, of ________, Indian Inhabitant, having address at

________________________________________, hereinafter referred to as “THE LESSOR” (which expression shall unless it be repugnant to the context    or meaning thereof be deemed to mean and include his/her heirs, executors, administrators and assigns) of the ONE PART; AND    XYZ, of                                         , Indian Inhabitant, having address at                 

, hereinafter referred to as “THE LESSEE” (which expression shall unless it be repugnant to the context or meaning thereof be deemed to mean and include his/her heirs, executors, administrators and permitted assigns) of the OTHER PART.

WHEREAS

(a) The Lessor is seized and possessed of or otherwise well and sufficiently entitled to the plot of  land (“the demised plot”) bearing Survey No. ___________, admeasuring approximately _______ sq.yds. equivalent  to  ___________  sq.mts.  or  thereabouts  situated at

_______________________________ and more  particularly described in the Schedule hereunder written and delineated on the plan annexed hereto and shown with red colour boundary line    thereon.

  • The Lessor has agreed to demise unto the Lessee the demised plot together with the right to construct a building or buildings and/or structures thereon for the period and at the yearly rent and upon the terms and conditions recorded  herein.
  • The Lessor being the absolute owner of the demised plot is executing the present Indenture in favour of the   Lessee.

format of lease deed

NOW THIS INDENTURE WITNESSETH AS   FOLLOWS

  1. In consideration of the yearly rent and Lessee’s covenants hereinafter reserved and contained the  Lessor doth hereby demises unto the Lessee the demised plot bearing   Survey No.______, admeasuring________approximately_______  sq. yds.  equivalent to___________  sq.mts. or thereabout situated at ___________________and______________more particularly described in the Schedule hereunder written together with the right to construct a building or buildings and/or structures thereon and delineated by red coloured boundary line on the plan annexed hereto TO HOLD unto the Lessee the demised plot hereby demised  from the  day of ___________for a term of 999 years (nine hundred and ninety-nine years) (“the said term”) yielding and paying the yearly rent of Rs. __________ (Rupees __________________ only), and which rent shall be payable by the Lessee to the Lessor on or before the ________day of ___________ every year in  advance.The Lessee doth hereby expressly   covenants with the Lessor as  under:—

That

he/she will during the said term regularly pay to the Lessor the aforesaid yearly rent without any deduction and in all the circumstances in the manner aforesaid. In the event of any delay, the Lessee shall pay interest on the arrears at the rate of ________%   per annum from the due date till the date of actual payment. Such interest shall be recovered as if the same formed a part of the yearly rent and will carry compound interest at the same rate with six monthly rests. The provision of interest shall be without prejudice to the  other  rights and remedies of  the Lessor.

That

he/she will also pay and discharge all the rates, taxes charges, duties, burdens, assessments, outgoings and impositions whatsoever payable now or hereafter during the said term to become payable now or  hereafter during the said term assessed, charged and/    or imposed upon the demised plot or any part thereof or upon    the building or buildings and/or structures to be hereafter erected whether payable by the landlord, tenant or occupier in respect thereof respectively.

That

the Lessee will at his/her own efforts, expenses and costs be entitled to construct and complete upon the demised plot a new building or buildings and/or structure or structures with all requisite and proper sewers, drains and other conveniences thereto in accordance with the prevailing laws.

That

he/she will in executing the works as aforesaid and at all times during the continuance of this demise observe and conform to all such rules and regulations of the Municipal Corporation and other Government and Semi-Government Authorities as may be in force for the time being relating to the building or buildings and/or structures to be constructed on the demised plot.

That the Lessee will at his/her own expense and cost maintain and keep in good repair the drains, sewers and gullies leading from the said building or buildings and/or structures to be constructed on the demised plot in accordance with the Municipal Act and the bye-laws thereunder for the time being in force without requiring any notice in that behalf from the   Lessor.

That

the Lessee will not do, cause or suffer to be done upon the demised plot any act which shall be a nuisance or annoyance, or be injurious or offensive to the owners or tenants of any neighbouring premises.

(g)  That the Lessee hereby indemnifies and agrees to keep indemnified the Lessor against all suits, claims and/or demands in respect of the demised plot.

That

the Lessee will at the expiration or sooner determination of the said term quietly and peacefully surrender and deliver to the Lessor possession of the said demised plot together with all the building or buildings and/or structures which shall have been constructed/erected thereon during the said term and all drains and appurtenances thereto in such good and substantial repair and condition and so maintained, saved and cleansed and in all respects in such state and condition as shall be consistent with the due performance of the several covenants hereinbefore contained (reasonable wear and tear   excepted).

The Lessee

shall not assign, transfer or part with the possession of the demised plot or any part thereof to any person without previously obtaining the written consent of the Lessor which consent shall not be unreasonably withheld. PROVIDED FURTHER that after a building or building/s and/or structures to be constructed on the demised plot as aforestated is completed, the Lessee shall be entitled without such consent to sell and assign the constructed premises to third parties for the exclusive benefit of the Lessee.

However, once the development of the demised plot is complete, the Lessee shall be entitled to execute a sub-Lease in respect of the same for the remaining period along with the Conveyance of the structure/s or building/s to be constructed on the demised plot to the Co-operative Housing Society or a limited company or any association of persons which may be formed by the Purchasers of the constructed premises on the demised plot.

PROVIDED ALWAYS AND IT IS AGREED

and declared that if the yearly  rent hereby reserved or any part thereof shall be in arrears, for a space     of thirty days after the same shall have become due whether  the same  shall have been legally or formally demanded or not or if and whenever there shall be a breach or non-performance or  non-observance by  the Lessee of any of the Covenants, conditions or agreements herein contained, it shall be lawful for the Lessor to re-enter upon the demised  plot or any part thereof in the name of the whole and immediately thereupon this demise and all rights of the Lessee hereunder shall stand absolutely determined but without prejudice to any right or  remedy of  the Lessor already accrued and then subsisting

PROVIDED HOWEVER

prior to such re-entry in respect of any breach of any covenant, notice in writing must be given to the Lessee intimating such breach of a covenant and  if  the  Lessee fails to  make  good or  rectify such breach within   two months from the date of service of such notice, the Lessor shall be entitled to re-enter upon the demised plot or any part thereof in the name of the whole and thereafter the Lease shall stand determined provided always that such re-entry shall be without prejudice to any other right of action or remedy of the Lessor in respect of any antecedent breach of any of the covenants on the part of the Lessee. The term for payment of interest on the arrears of rent shall not prejudice or affect the right of re-entry herein contained.

The Lessor doth hereby covenants with the Lessee that the Lessee on paying the rent hereinabove reserved and performing and observing all the covenants, conditions and agreements on the part of the Lessee hereinbefore contained shall be entitled to peaceably hold, occupy and enjoy the demised plot during the said term without any interruption by   the Lessor or any person claiming by, for or under him.

THE SCHEDULE ABOVE REFERRED  TO:

(“the demised plot”)

(Give a detailed description of the   Plot)

IN WITNESS WHEREOF the parties hereto have hereunto set and subscribed

their respective hands on the day and year first hereinabove written.

SIGNED AND DELIVERED  by the            )

withinnamed ABC, “THE LESSOR”,          ) abovenamed,                                                        )

in the presence  of ……                       ) 1.

2.

SIGNED AND DELIVERED  by the            )

withinnamed XYZ, “THE LESSEE”,           ) abovenamed,                                                        )

in the presence  of ……                       ) 1.

2.

format of lease deed

format of lease deed

The format of lease deed

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