Property Lease Agreement Template for India

The Property Lease Agreement serves as a legally binding document in India that formally establishes a landlord-tenant relationship for the temporary possession and use of real property. This agreement is essential for both residential and commercial property transactions, requiring careful consideration of various Indian laws including the Transfer of Property Act, 1882, state-specific rent control acts, and the Registration Act, 1908. It becomes particularly crucial when the lease period exceeds 11 months, as registration becomes mandatory. The document typically includes comprehensive details about the property, rental terms, maintenance responsibilities, and various other conditions that govern the lease relationship, while ensuring compliance with local regulations and market practices.

1. Parties: Identification and details of the landlord/lessor and tenant/lessee including full names, addresses, and contact information

2. Background: Brief context about the property and the parties' intention to enter into a lease arrangement

3. Definitions: Definitions of key terms used throughout the agreement including 'Property', 'Term', 'Rent', 'Security Deposit', etc.

4. Demise: The formal grant of lease, specifying the property being leased

5. Term and Renewal: Duration of the lease, commencement date, and any renewal options

6. Rent and Deposits: Rent amount, payment terms, security deposit details, and any advance payments

7. Maintenance and Repairs: Responsibilities of both parties regarding property maintenance and repairs

8. Utilities and Charges: Responsibility for utility payments and other charges

9. Use of Property: Permitted uses of the property and any restrictions

10. Obligations of the Landlord: Specific duties and responsibilities of the landlord

11. Obligations of the Tenant: Specific duties and responsibilities of the tenant

12. Insurance: Requirements for property insurance and contents insurance

13. Lock-in Period: Any mandatory period during which the lease cannot be terminated

14. Termination: Grounds and procedure for termination of the lease

15. Return of Property: Conditions for returning the property and settlement of accounts

16. Governing Law and Jurisdiction: Applicable law and courts having jurisdiction

17. Notices: Method and addresses for serving notices between parties

18. Boilerplate Clauses: Standard clauses including force majeure, severability, and entire agreement