Ajmera agreement


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Ajmera agreement

  1. 1. RENTAL AGREEMENTThis Agreement is made this 01st of October 2011 between Abhilash Nagaraju S/o M Nagaraju #27/8, Maruthi Nilaya, 3rd main Hanumanth nagar, Bangalore-560019hereinafter referred to as “the Lessor” (which expression shall mean and include his/herheirs, executors, administrators, legal representatives and assigns) of the ONE PART; ANDMr. Avadhut Sawant, Permanent resident of 11, Sugandh CHS, Nityanand Nagar,Ghatkopar(West), Mumbai – 400086, Maharashtra, and currently Working in Wiprowith Employment Id 232013 hereinafter referred to as the “the Lessee” (which expression shall mean and include itssuccessors and assigns) of the OTHER PART; AND WHEREAS1) The Lessor is the absolute owner and is in possession of residential premises at, Apartment bearing no_1704__ in__I___ block situated in _17th_____ floor at Ajmera Infinity Apartments # 90/1, Doddathagur main road, close to Wipro gate no 16, electronic city Phase-1, Bangalore-580100 together with the fixtures and fittings contained therein more particularly described in the schedule hereto, hereinafter referred to as “the Premises”,2) The Lessor has, at the request of the Lessee, agreed to rent out the premises to the Lessee subject to the terms and conditions appearing hereinafter.THE PARTIES HERETO AGREE AS FOLLOWS:1.0 GRANT 1.1 The Lessor agrees to lease and the Lessee agrees to take on lease from the Lessor the Premises for a term of 11 months commencing from 01/10/2011 to 01/09/2012 or from such date that the Lessor delivers possession of the premises to the Lessee, whichever is later. 1.2 The Lessor shall deliver possession of the premises to lessee not later than 01/10/20112.0 RENT Page 1 of 6
  2. 2. 2.1 The Lessee shall pay the Lessor a monthly rent of Rs.12000/-(Rupees Twelve thousand only) for the premises and all fixtures and fittings contained therein, Excluding of all out goings such as society/association charges and the maintenance charges for the flat. There will be an increase in the rent @ 10% after completion of the first term of 11 months and subsequently every year from this date. 2.2 The lessee shall pay the Lessor of Rs 1.50/sqft/month towards the maintenance charge in a separate cheque 2.3 The monthly rent as above shall be payable in advance on or before the 10th day of the respective English calendar month to the following address: Cheque in favor of : Abhilash Nagaraju (Payable at………(Location) Mailing address :# 27/8, Maruthi Nilaya, 3rd main road, Hanumanth nagar, Bangalore-560019 PAN No. (Mandatory) : ADGPN5440A 2.3 The applicable tax (TDS), if any, will be deducted from the above rent and the TDS certificate will be issued periodically for the tax deducted at source. 2.4 This lease shall deemed to have commenced from 01/10/2011 and shall be valid till 01/09/20123.0 DEPOSIT 3.1 The Lessee has agreed to pay an interest free refundable security deposit of Rs. 100000/- (Rupees One lakh) receipt of which shall be acknowledged by the Lessor after the amount is received by him/her. 3.2 The Lessor shall refund to the Lessee the security deposit immediately on the expiry or sooner termination of this agreement.4.0 LESSOR’S OBLIGATIONS 4.1 The Lessor shall: 4.1.1 Bear and pay promptly and regularly all taxes, rates, cesses and levies imposed or charges or payable on the premises. 4.1.2 Disclose to the Lessee any material defect in the premises with reference to its intended use of which the Lessor is and the Lessee is not aware of and which the Lessee cannot with ordinary care discover. Page 2 of 6
  3. 3. 4.1.3 Carry out promptly at his cost all repairs, painting and polishing of the premises and all repairs to water and sanitary lines, electrical and mechanical fixtures and fittings therein. 4.2 The Lessor agrees that on the Lessee paying the monthly rent and performing and observing the several covenants and conditions contained herein, he shall permit the Lessee to peacefully and quietly hold, possess and enjoy the use of the premises during the term of this Agreement without any interruption or disturbance by the Lessor or any person claiming through or under or in trust for the Lessor. 4.3 If the Lessor, after the Lessee giving prior notice, fails or neglects to carry out, within a reasonable time, repairs to the Premises or fixtures and fittings therein, the Lessee may get the repairs carried out at the cost and expense of the Lessor and shall be entitled to recover the cost out of the rent payable to the Lessor.5.0 LESSEE’S/RESIDENT’S OBLIGATIONS 5.1 During the currency of this Agreement, the Lessee/the Resident shall: 5.1.1 Use the premises in a reasonable tenant like manner for the residential purposes of Mr. Avadhut Sawant and his family members (hereinafter referred to as the “the Resident”) 5.1.2 The Resident shall promptly and regularly pay for water, telephone, cable connection, broad band connection and electrical energy consumed at the premises and for common area, if any. 5.1.3 Not assign, sublet or underlet the premises or any part thereof without the prior written consent of the Lessor. 5.1.4 Not make or permit any structural alterations or additions or to fix any fixtures (other than installation of air conditioners/power back- up systems) in or to the premises without the prior written consent of the Lessor. 5.1.5 Permit the Lessor and/or his agent, at all reasonable times, during the day time and with prior notice to the Lessee and the occupant of the premises to enter upon the premises and view the conditions thereof. 5.1.6 Maintain the premises in good condition and order. 5.1.7 The lessee agrees to Repaint the scheduled Premises at the time of Termination of the Contract or bear the amount for repainting the same Page 3 of 6
  4. 4. 6.0 TERMINATION 6.1 The Lessee/Lessor shall be at liberty to terminate this agreement by giving Two month notice in writing to the other, without assigning any reason thereof. 6.2 The Lessor may also terminate this Agreement if the monthly rent remains unpaid for two consecutive months or if the Lessee fails or neglects to perform or serve any of the covenants contained herein and the Lessee has failed to pay the arrears of rent or to cure the breach of the covenants within one month from the date of receipt of notice from the Lessor to the effect. 6.3 On the expiry or sooner termination of this Agreement the Lessee shall handover the premises to the Lessor in the same condition in which it was given, reasonable wear and tear expected and the Lessor shall refund to the Lessee the security deposit as set out in Clause 3 above.7.0 RENEWAL 7.1 This Agreement may be renewed on its expiry for such period and on such terms and conditions as may be mutually agreed to.8.0 GENERAL 8.1 All notices required to be given under this Agreement shall be deem to have been given if sent by Registered A/D post and/or by Courier to the address given below: To the Lessor : Abhilash Nagaraju S/o M Nagaraju #27/8, Maruthi Nilaya, 3rd main Hanumanth nagar, Bangalore-560019 To the Lessee: Mr. Avadhut Sawant, Wipro Technologies, Electroniccity Phase 1, Emp no 232013 8.2 In the event that any dispute arises between the parties in connection with this Agreement, the construction of any provision of this Agreement or the rights, duties or liabilities of the Parties hereto under this Agreement, the parties shall conduct negotiations in good faith to solve such dispute. If mutual resolution cannot be reached within sixty (60) days after the commencement of such negotiations, either of the parties shall be free to refer such dispute to arbitration under the Arbitration and Conciliation Act, 1996 by three (3) arbitrators. One arbitrator shall be appointed by each Party and the third arbitrator shall be appointed by the arbitrators so appointed. The venue of arbitration shall be Bangalore. The Page 4 of 6
  5. 5. arbitration proceedings shall be conducted in English. Any award made in such arbitration will be final and binding on the Parties. 8.3 The agreement shall be governed by the laws of India and the Bangalore courts shall have exclusive jurisdiction.In witness whereof the parties hereto have set their hand and seal on the day month andyear herein above written.Signed and delivered by theWithin named Lessor ____________________Signed and delivered by theWithin named Lessee,By its Constituted Attorney ____________________Witness:…………………… ____________________(Resident)Emp. No : Page 5 of 6
  6. 6. SCHEDULE DESCRIPTION OF THE LEASED PREMISESAll that residential premises, comprising of 2 Bedrooms, Hall, Kitchen and measuring1087 Sqft, at Apartment bearing no_1704__ in __I__block situated at the __17th____floor at Ajmera Infinity Apartments # 90/1, Doddathagur main road, close to wipro gateno 16, electronic city Phase-1, Bangalore-580100Description of Furniture, fixtures and fittings installed in the above premises: 1. Fans : 2. Geysers : 3. Tube lights / lights : 4. Exhaust Fans : 5. Calling bell :___________ ( LESSOR ) ( LESSEE )Witness and affirm the schedule…………………….. ____________________(Resident)Emp. No : Page 6 of 6