This COMMERCIAL LEASE AGREEMENT is made and executed on this __DATE__ at Jaipur, Rajasthan;
— BY AND BETWEEN —
Apex Commercial Realties LLP, having registered office at Apex Tower, Tonk Road, Jaipur, Rajasthan - 302015 (hereinafter referred to as the "LESSOR") of the FIRST PART;
— AND —
NextGen Digital Solutions Private Limited, having registered office at Office 204, IT Park, Sitapura, Jaipur - 302022 (hereinafter referred to as the "LESSEE") of the SECOND PART.
OPERATIVE COVENANTS:
- LEASED PREMISES: The Lessor hereby leases to the Lessee the commercial premises situated at: Commercial Unit No. 504, 5th Floor, Apex Complex, MI Road, Jaipur.
- TERM OF LEASE: The lease shall be for a duration of 36 months commencing from __START_DATE__ with an agreed escalation of 7% annually.
- COMMERCIAL RENT & GST: The monthly rent shall be ₹45,000/- plus applicable Goods and Services Tax (GST) payable on or before the 7th day of each English calendar month subject to statutory TDS under Section 194I of Income Tax Act.
- INTEREST-FREE SECURITY DEPOSIT: The Lessee has paid an interest-free refundable deposit of ₹1,35,000/-.
- LOCK-IN & TERMINATION: The initial 12 months shall be a strict lock-in period. Thereafter, either party may terminate by serving 3 months advance written notice.
- COMMERCIAL COMPLIANCES: The Lessee shall strictly comply with local Municipal Corporation bylaws, Trade Licenses, Fire Safety Norms, and GST requirements.
FOR LESSOR (OWNER)
Apex Commercial Realties LLP
Apex Commercial Realties LLP
FOR LESSEE (TENANT)
NextGen Digital Solutions Private Limited
NextGen Digital Solutions Private Limited
