Document background
The Commercial Property Licence Agreement serves as a crucial legal instrument in the Indian real estate market, particularly suitable for businesses seeking flexible commercial space arrangements without the long-term commitments associated with traditional leases. This document is commonly used for temporary office spaces, retail outlets, kiosks, pop-up stores, and other commercial establishments where the occupier needs a defined space for a specific period. The agreement encompasses essential elements such as duration, licence fees, permitted use, maintenance obligations, and termination rights, all while adhering to Indian property laws and regulations. It offers a more flexible alternative to traditional lease agreements, making it particularly attractive for businesses requiring shorter occupation periods or those testing new markets. The document must comply with the Transfer of Property Act, 1882, the Indian Contract Act, 1872, and relevant state-specific property regulations.
