Fixed Term Lease Agreement Template for India

The Fixed Term Lease Agreement is a crucial legal document used in India when a property owner (lessor) grants temporary possession of their property to another party (lessee) for a predetermined period. This document is essential for both residential and commercial property transactions in India, operating under the Transfer of Property Act, 1882, the Registration Act, 1908, and state-specific rent control laws. It's particularly important for situations requiring clear documentation of lease terms, protection of both parties' interests, and compliance with local property laws. The agreement includes specific provisions for rent payment, security deposit, maintenance responsibilities, and termination conditions, while ensuring adherence to state-specific requirements for registration and stamp duty. This type of agreement is preferred when parties want certainty about the lease duration and terms, making it particularly suitable for commercial leases and structured residential arrangements.

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

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

3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty

4. Demised Premises: Detailed description of the leased property, including its address and boundaries

5. Term and Renewal: Specifies the duration of the lease and any renewal options

6. Rent and Payment Terms: Details of rent amount, payment schedule, method of payment, and late payment consequences

7. Security Deposit: Amount of security deposit, terms of holding, and conditions for refund

8. Utilities and Maintenance: Responsibilities for utilities, repairs, and maintenance of the premises

9. Use of Premises: Permitted and prohibited uses of the property

10. Landlord's Covenants: Obligations and promises of the landlord

11. Tenant's Covenants: Obligations and promises of the tenant

12. Insurance: Requirements for property insurance and other relevant insurance coverage

13. Default and Remedies: Consequences of breach and available remedies for both parties

14. Termination: Conditions and process for early termination of the lease

15. Governing Law: Specifies that Indian law governs the agreement and relevant jurisdiction

16. Notices: Process and addresses for serving formal notices between parties

17. Execution: Signature blocks and execution formalities