The Parking Lease Agreement is a vital legal instrument used in India for formalizing arrangements between parking space owners and users. This document is essential when leasing parking spaces in commercial buildings, residential complexes, or standalone parking facilities. It ensures compliance with Indian property laws, including the Transfer of Property Act, 1882, and relevant municipal regulations. The agreement is particularly important in urban areas where parking spaces are premium assets and require clear legal documentation. It typically includes comprehensive details about the parking space location, access rights, payment terms, maintenance responsibilities, and liability provisions. This type of agreement has become increasingly important due to urbanization and the growing need for organized parking solutions in Indian cities.
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1. Parties: Identification and details of the lessor (parking space owner) and lessee (parker)
2. Background: Context of the agreement and brief description of the parking space and intended use
3. Definitions: Definitions of key terms used throughout the agreement
4. Demised Premises: Detailed description of the parking space(s) being leased
5. Term and Renewal: Duration of the lease and conditions for renewal
6. Rent and Payment Terms: Amount, payment schedule, and method of payment for the parking space
7. Security Deposit: Details of security deposit amount, terms of holding, and conditions for refund
8. Use and Access: Permitted use of parking space, access hours, and any restrictions
9. Maintenance and Repairs: Responsibilities for maintenance and repairs of the parking space
10. Insurance and Liability: Insurance requirements and allocation of risks between parties
11. Termination: Conditions and process for early termination of the agreement
12. Governing Law and Jurisdiction: Applicable laws and courts having jurisdiction
13. Notices: Process and addresses for serving notices under the agreement
1. Security and Safety Measures: Additional provisions for security systems, CCTV, guards (relevant for premium or commercial parking spaces)
2. Subletting Rights: Provisions allowing or prohibiting subletting of the parking space
3. Utilities and Services: Details of additional services like charging points for electric vehicles, car wash facilities
4. Force Majeure: Provisions for unforeseen circumstances affecting parking space usage
5. Assignment Rights: Rights to assign the lease to another party
6. Alterations and Improvements: Rights and conditions for making changes to the parking space
7. Operating Hours: Specific provisions for operating hours if in commercial complexes
1. Schedule 1 - Parking Space Plan: Detailed plan showing exact location, dimensions, and marking of the parking space
2. Schedule 2 - Payment Schedule: Detailed breakdown of rent, maintenance charges, and other applicable fees
3. Schedule 3 - House Rules: Specific rules and regulations for using the parking facility
4. Schedule 4 - Handover Form: Condition report of the parking space at the time of handover
5. Appendix A - Access Card/Key Details: Details of access mechanisms provided to the lessee
6. Appendix B - Emergency Procedures: Emergency contact numbers and procedures
Relevant legal definitions
Agreement
Applicable Laws
Building
Common Areas
Commencement Date
Demised Premises
Expiry Date
Force Majeure Event
Initial Term
Lease Period
Lessee
Lessor
License Fee
Maintenance Charges
Operating Hours
Parking Area
Parking Space
Parking Identification Number
Permitted Use
Property
Rent
Renewal Term
Security Deposit
Service Charges
Taxes
Term
Utilities
Vehicle
Visitor Parking
Working Days
Applicable Laws
Building
Common Areas
Commencement Date
Demised Premises
Expiry Date
Force Majeure Event
Initial Term
Lease Period
Lessee
Lessor
License Fee
Maintenance Charges
Operating Hours
Parking Area
Parking Space
Parking Identification Number
Permitted Use
Property
Rent
Renewal Term
Security Deposit
Service Charges
Taxes
Term
Utilities
Vehicle
Visitor Parking
Working Days
Clauses
Demise
Term and Renewal
Rent and Payment
Security Deposit
Use and Access
Maintenance and Repairs
Insurance
Liability and Indemnity
Rights and Obligations
Safety and Security
Utilities
Assignment and Subletting
Force Majeure
Governing Law
Dispute Resolution
Termination
Notices
Representations and Warranties
Compliance with Laws
Quiet Enjoyment
Alterations
Entry Rights
Default and Remedies
Handover
Term and Renewal
Rent and Payment
Security Deposit
Use and Access
Maintenance and Repairs
Insurance
Liability and Indemnity
Rights and Obligations
Safety and Security
Utilities
Assignment and Subletting
Force Majeure
Governing Law
Dispute Resolution
Termination
Notices
Representations and Warranties
Compliance with Laws
Quiet Enjoyment
Alterations
Entry Rights
Default and Remedies
Handover
Relevant Industries
Real Estate
Property Management
Commercial Real Estate
Residential Real Estate
Retail
Corporate Services
Facilities Management
Parking Management
Transportation
Automotive
Relevant Teams
Legal
Facilities Management
Operations
Property Management
Real Estate
Administration
Contract Management
Asset Management
Risk Management
Relevant Roles
Property Manager
Facility Manager
Real Estate Manager
Legal Counsel
Operations Manager
Building Superintendent
Parking Operations Supervisor
Asset Manager
Property Administrator
Commercial Lease Manager
General Counsel
Contract Administrator
Real Estate Director
Facilities Director
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