Apyrn Tools
Rent / Lease Agreement
Recitals
This Rent Agreement is made on the 1st day of August, 2026 at Maharashtra between Asha Mehta, hereinafter referred to as the "Landlord/Lessor", and Rohan Iyer, hereinafter referred to as the "Tenant/Lessee". The Landlord and the Tenant are collectively referred to as the "Parties". The Landlord agrees to let out and the Tenant agrees to take on lease the premises described below on the terms and conditions set out herein.
Terms and Conditions
- The monthly rent for the premises is ₹45,000, payable by the Tenant on or before the 5th day of each calendar month.
- The Tenant has paid a refundable security deposit of ₹1,50,000 to the Landlord, refundable at the end of the term after deducting any lawful dues or damages to the property, normal wear and tear excepted.
- The Tenant shall pay monthly maintenance charges of ₹3,500 in addition to the rent, along with all utility bills for the premises during the tenancy.
- This agreement is valid for a period of 11 months commencing on the 1st day of August, 2026 and ending on the 1st day of July, 2027, and may be renewed on mutual consent of the Parties.
- A lock-in period of 6 months shall apply from the date of commencement, during which neither Party may terminate this agreement save for a breach of its terms.
- After the lock-in period, either Party may terminate this agreement by serving 2 months prior written notice to the other Party.
- The premises shall be used solely for residential purposes and shall not be sub-let, assigned, or parted with without the prior written consent of the Landlord.
- This agreement shall be executed on stamp paper and stamp duty is payable in Maharashtra at 0.25% of the total rent plus deposit for the lease term. Agreements for less than 12 months are commonly notarised on stamp paper in lieu of registration.
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