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Revised Lease Agreement

Revised Lease Agreement Template for India

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Key Requirements PROMPT example:

Revised Lease Agreement

"I need a Revised Lease Agreement for my commercial property in Mumbai, India, to increase the monthly rent by 15% and extend the lease term until March 2025, with updated maintenance responsibilities for the tenant."

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Document background
A Revised Lease Agreement is utilized when parties need to modify terms of an existing lease while keeping the basic tenancy intact. This document type is particularly relevant in the Indian legal context where changing market conditions, regulatory requirements, or mutual agreements necessitate updates to existing lease terms. The agreement must comply with Indian property laws, including the Transfer of Property Act 1882 and state-specific regulations. It typically includes modifications to rent, tenure, maintenance terms, or other specific conditions while ensuring continuity of the landlord-tenant relationship. The document is essential for both commercial and residential properties, providing a legally sound framework for implementing agreed changes while maintaining the validity of the original lease structure.
Suggested Sections

1. Parties: Details of the Lessor/Landlord and Lessee/Tenant, including full names, addresses, and contact information

2. Background: Reference to original lease agreement, its date, and reason for revision

3. Definitions: Definitions of key terms used in the agreement, including references to original lease terms that remain unchanged

4. Amendments to Original Lease: Specific clauses being modified, with clear reference to original clause numbers and new provisions

5. Term and Renewal: Modified lease duration, commencement date, and renewal terms if applicable

6. Rent and Payment Terms: Revised rent amount, payment schedule, security deposit adjustments, and payment methods

7. Maintenance and Repairs: Updated responsibilities of landlord and tenant for property maintenance and repairs

8. Use of Premises: Permitted use of the property and any new restrictions or allowances

9. Rights and Obligations: Updated rights and obligations of both parties

10. Termination: Revised conditions for early termination and notice requirements

11. Governing Law: Confirmation of applicable laws and jurisdiction

12. Execution: Signature blocks, witness requirements, and execution date

Optional Sections

1. Utilities and Services: Include when there are changes to responsibility for utilities, maintenance services, or additional services

2. Subletting and Assignment: Include when modifying terms regarding subletting rights or assignment of lease

3. Insurance: Include when updating insurance requirements for either party

4. Force Majeure: Include when adding or modifying provisions for unforeseen circumstances

5. Green Lease Provisions: Include when adding environmental sustainability requirements

6. Pet Policy: Include when modifying terms regarding pets on the premises

7. Parking: Include when modifying parking rights or restrictions

8. Common Areas: Include for commercial properties or apartments with shared facilities

Suggested Schedules

1. Schedule A - Property Description: Detailed description of the leased premises, including boundaries and measurements

2. Schedule B - Inventory List: Updated list of fixtures, fittings, and furnishings provided with the property

3. Schedule C - Rent Schedule: Detailed breakdown of rent increases over the lease term if applicable

4. Schedule D - Maintenance Schedule: Specific maintenance responsibilities and schedules for both parties

5. Schedule E - House Rules: Updated rules and regulations for the property, particularly relevant for apartment complexes

6. Appendix 1 - Original Lease: Copy of the original lease agreement for reference

7. Appendix 2 - Property Photos: Updated photographs documenting the current condition of the property

8. Appendix 3 - Compliance Certificates: Updated safety certificates, permissions, or regulatory compliance documents

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Original Lease
Lessor
Lessee
Premises
Term
Commencement Date
Revision Date
Base Rent
Security Deposit
Common Areas
Permitted Use
Force Majeure
Maintenance Charges
Property Tax
Utilities
Interest Rate
Notice Period
Occupancy Certificate
Schedule of Premises
Applicable Laws
Business Days
Default
Effective Date
Escalation Rate
Lock-in Period
Operating Expenses
Party/Parties
Renewal Term
Registration Authority
Rent
Service Providers
Stamp Duty
Termination Date
Working Hours
Clauses
Parties and Definitions
Amendment and Restatement
Term and Renewal
Rent and Payment
Security Deposit
Maintenance and Repairs
Utilities and Services
Use of Premises
Alterations and Improvements
Insurance and Indemnity
Assignment and Subletting
Access and Inspection
Default and Remedies
Termination
Force Majeure
Notices
Compliance with Laws
Registration and Stamp Duty
Property Tax and Assessments
Environmental Compliance
Quiet Enjoyment
Return of Premises
Dispute Resolution
Governing Law
Severability
Entire Agreement
Amendment and Modification
Representations and Warranties
Common Areas
Signage and Branding
Relevant Industries

Real Estate

Residential Property

Commercial Property

Retail

Industrial

Hospitality

Education

Healthcare

Technology

Manufacturing

Warehousing

Office Space

Relevant Teams

Legal

Real Estate

Facilities Management

Operations

Administration

Compliance

Property Management

Asset Management

Corporate Services

Risk Management

Relevant Roles

Property Manager

Real Estate Manager

Facilities Manager

Legal Counsel

Contract Manager

Real Estate Director

Operations Manager

Asset Manager

Leasing Manager

Property Administrator

Real Estate Agent

Compliance Officer

Property Owner

Business Development Manager

Corporate Real Estate Manager

Industries
Transfer of Property Act, 1882: The fundamental law governing leases in India, defining rights and obligations of lessors and lessees, essential lease components, and termination conditions
Registration Act, 1908: Mandates registration requirements for lease deeds, especially for leases exceeding 11 months or those creating long-term rights
Indian Contract Act, 1872: Governs the basic principles of contract formation, including offer, acceptance, consideration, and breach remedies applicable to lease agreements
Indian Stamp Act, 1899: Determines the stamp duty payable on lease agreements, varying by state and lease duration
State-specific Rent Control Act: Local laws that regulate rent increases, maintenance obligations, eviction procedures, and tenant protection measures specific to each state
State-specific Property Laws: Various state-level regulations governing property matters, including specific requirements for lease agreements in that jurisdiction
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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