LEASE AGREEMENT

Suswadeep Model

This agreement is executed on ................................. at Tanuku, by

................................................................................. resident of ...................................................
...............................................................................................................................................
(hereinafter called the LESSOR which term shall mean and include her legal heirs, successors-in-interest, assignees and administrators, of the one part)
AND
Panaraseema Chits Private Limited, situated at Door No. 22-13-10, Dhana Rajesh
Enclave, Society Road, Tanuku - 534 211, W.G. Dist., A.P., represented by its Managing
Director, M. Rajya Lakshmi, W/o M. Ajaya Kumar, resident of Door No.21-13-10/2, Flat
No.102, Sri Tirumala Towers, Tanuku Vari Street, Tanuku - 534 211, W.G. Dist., A.P.
(hereinafter called the LESSEE which term shall mean and include her legal heirs, successorsin-interest, assignees and administrators, of the one part).
Whereas the LESSOR in the absolute owner seized and possessor of all that premises
bearing Door No. 22-13-10, Dhana Rajesh Enclave, Society Road, Tanuku - 534 211, W.G.
Dist., A.P.,
The LESSOR and the LESSEE herein have hereby arrived at the following terms and
conditions of the lease for leasing the premises detailed in the schedule.
1.

That the lease shall be for a period of 23 months commencing from 1st June 2011 to
31 May 2013.

2.

That the LESSEE shall pay the LESSOR a rent of Rs.3,500/- (Rupees Three Thousand
Five Hundred only) per month for the demised premises.

3.

The monthly rent is payable on or before the 5th day of every month. The rent will be
paid after making necessary statutory deduction under the Income Tax and the TDS
Certificate will be issued to the LESSOR.

4.

a) The LESSEE is agreed to keep an interest free deposit of Rs.10,500/- (Rupees

Ten Thousand Five Hundred only) with the LESSOR. The LESSEE has already paid
the said amount Rs.10,500/- to the LESSOR by cash.

4.

b) The advance amount equal to six months rent given by the lessee to the lessor is of
Rs.21000/- only.

4.

a) The rent will be paid after necessary statutory deduction under the Income Tax and
the TDS certificate will be issued to the LESSOR.

5.

That the expiry of the aforesaid period of 23 months the lease agreement shall be
renewed for a further period of 2 years at the option of the LESSEE / LESSOR on the
same terms and conditions except that the rent of the premises shall be increased by
20% for the next Two years.

6.

That the LESSEE will have the right to terminate the lease only after the completion of
the aforesaid period of 23 months from the commencement of lease and after giving
three calendar months notice.

7.

After the expiry of the lease the LESSEE hand over the vacant and peaceful possession
of the premises in an habitable condition to the LESSOR.

8.

In case of delay in payment of rent or default of two months or more shall be constructed
as willful default and the LESSOR shall have the option to terminate the lease, apart
from the right to recover the rents due with interests and this deed gives a specific
right to the LESSOR to enter the property and take possession of the same without
resorting to any judicial proceeding.

9.

The LESSEEs is permitted to carry out the necessary alterations and make required
constructions at his cost and to suit their requirements but this shall not after the basis
structure of the building and it should not damage the existing construction. The
LESSEE shall be at liberty to carry away all the extra provision, additions, made by
them at the time of vacating the premises. The LESSEE at the time of vacating the
premises in an habitable conditions.

10.

The LESSOR shall ensure the peaceful possession and uninterrupted use and
enjoyment of the said premises by the LESSEE during the period of the lease without
any let or hindrance from the LESSOR or any person claiming through or under her.

11.

The LESSEE shall obtain all the necessary sanction and permission required for
carrying on the business under State, Central, Municipal, Health, Sales Tax and other
laws.

12.

The LESSOR shall pay the municipal tax, non - agricultural tax and in any case the
LESSEE is called upon to pay the same by the authorities and if the LESSEE pays the
same the shall be deductible out of the rent payable to the LESSOR.

13.

The LESSEE shall keep the premises in a neat and habitable condition till the expiry
of the Lease with due allowable for normal wear and tear.

14.

The LESSEE shall not sublet or transfer the rights on this lease agreement or part
with the possession of the premises without prior consent in writing of the LESSOR.
However any alterations in the name of the company or the constitution of the company
of change of business effected due to statutory requirement or government regulations
or technical collaborations or by agreement with financial institutions or more change
of name of the company.

15.

The LESSEE shall permit the LESSOR or her authorised agents to inspect the premises
during working hours by prior intimation in writing.

16.

This deed shall be registered and onus to get it registered shall be on the LESSEE.

17.

Any stamps duty and registration charges in respect of the Lease deed shall be borne
by the LESSEE only.

The LESSEE and the LESSOR have agreed that the rent fixed is a fair and reasonable
rent considering the prevailing market rate and both shall not question the same.

Schedule of the Lease Premises :

All that part of premises in Door No. 22-13-10, Dhana Rajesh Enclave, Society Road,
Tanuku - 534 211, W.G. District as per schedule and plan annexed and bounded as follows :
On the North by
On the South by
On the East by
On the West by

:
:
:
:

In Witness whereof :
The Parties above named have signed the Lease agreement on the day, month and
year first above mentioned in the presence of witness :
1.

LESSOR

2.

LESSEE

LEASE DEED

Venkataraya Model

This Agreement of Lease is Executed on this 23rd day of July, 2009 between :
(01) ............................................................... resident of ...................................................
............................................................................................................................................... the
party of FIRST PART, hereinafter referred to as the LESSOR
And
(02) Panaraseema Chits Private Limited, situated at Door No. 22-13-10, Dhana Rajesh
Enclave, Society Road, Tanuku - 534 211, W.G. Dist., A.P., represented by its Managing
Director, M. Rajya Lakshmi, W/o M. Ajaya Kumar, resident of Door No.21-13-10/2, Flat
No.102, Sri Tirumala Towers, Tanuku Vari Street, Tanuku - 534 211, W.G. Dist., A.P. the
party of the SECOND PART, hereinafter referred to as the LESSEE
WHEREAS the LESSOR is the sole and absolute owner of the building, D.No.22-1310, Dhana Rajesh Enclave, Society Road, Tanuku - 534 211, W.G. Dist., A.P. and whereas
the LESSEE approached the LESSOR and expressed his desire to take on lease the shop
bearing No.1 of the said building, for his business purposes, for which, the LESSOR agreed
to let out the said shop and whereas both the LESSOR and LESSEE mutually agreed upon
to put out the terms and conditions of the said lease, in writing, this LEASE DEED is executed on this 23rd Day of July, 2009.
1.

The LESSEE shall pay Rs.1,380/- (Rupees One thousand three hundred eighty only)
per month to the LESSOR as rent for the said shop.

2.

The LESSEE shall pay the said agreed monthly rent to the LESSOR in advance
before the 6th day of every calendar month regularly during the subsistence of the
tenancy.

3.

a) The LESSEE has agreed to pay Rs.4,800/- (Rupees Four thousand eight hundred
only) towards advance and the same shall be adjusted towards monthly rent of the
time of vacation.

3.

b) The advance amount equal to six months rent given by the lessee to the lessor is of
Rs.21000/- only.

4.

The LESSEE should not undertake / carry out any major changes / modifications to
the shop / building without prior permission of the LESSOR.

5.

Minor repairs, if any, which may cost below Rs.250/- can be undertaken and borne by
the LESSEE himself.

6.

The LESSEE shall not use the said shop other than those of his business purposes
and shall not commit any acts of breach of peace or other acts which cause damage.

7.

The LESSEE will not, without prior consent in writing of the LESSOR, sell, mortgage,
sublet or in any other manner transfer or part with the possession of the whole or any
part of the demised premises or his interest in the same.

8.

The LESSOR shall be liable to pay the house-tax and property tax directly to the
concerned authorities. However, electricity and water charges shall regularly be paid
directly to authorities concerned by the LESSEE.

9.

The LESSOR shall have the right to make visit/s to the Shop with prior intimation to
the LESSEE.

10.

After expiry of the lease period, the LESSEE shall vacate without any prior notice to
quit.

11.

The LESSEE shall deliver possession of the shop at the expiry of the lease in the
condition in which it was delivered to him.

12.

In case of any dispute arises between the parties, the decision of the arbitrator, who is
appointed upon mutual agreement by the both parties, shall prevail upon and binding
over by both the parties.

13.

This Lease Deed shall be in force from 01.08.2001 to 30.06.2010.

14.

After expiry of the above said lease period, the tenancy shall be extendible at such
enhanced monthly rent and on such terms and conditions as agreed upon mutually by
both the parties.

In witness whereof, the parties hereto have put their signatures on the day, month
and year herein above mentioned.
WITNESS :

LESSOR

1.
2.

LESSEE