COMPANY LEASE AGREEMENT FOR AN EMPLOYEE RESIDENCE
Execution date: 2 April 2026
This deed is made between Rajiv Khanna, of House 214, Sector 8-B, Chandigarh (the “Landlord”), and Amanpreet Singh, of House 88, Phase 7, SAS Nagar, Punjab (the “Tenant”), concerning Flat 602, Homeland Heights, Sector 70, SAS Nagar, Punjab (the “Premises”). Landlord mobile: +91 XXXXX XXXXX. Tenant mobile: +91 XXXXX XXXXX.
- 1. Grant, term and possession
The Landlord lets the Premises to the Tenant for a fixed term beginning 1 April 2026 and ending 31 March 2037, stated as 36 months, for the permitted use Private residence of the tenant and permitted occupants. Possession is to be handed over on the commencement date after the agreed execution, stamping, registration and initial-payment steps are completed. This deed does not authorise either party to take possession by force or to exclude the other party otherwise than through lawful process.
- 2. Rent
The monthly rent is ₹45,000 (Rupees Forty Five Thousand only), due by the 5 day of each month. Payment method: Bank transfer. Designated payment details: HDFC Bank, account ending 7788, IFSC HDFC0001234. Where rent is paid in cash in a Punjab tenancy governed by the Punjab Rent Act, 1995 track, section 13(2) gives the tenant a right to a signed receipt forthwith; section 13(3) permits the Rent Authority, on a qualifying application within two months, to award damages up to double the rent received plus costs for failure to give the statutory receipt.
Rent will increase by 15% after every 36 months.
- 3. Security deposit
The Tenant will pay a refundable security deposit of ₹90,000 (Rupees Ninety Thousand only). The deposit is security for unpaid rent, documented utility or maintenance dues attributable to the Tenant, missing inventory, and damage beyond reasonable wear and tear. It is not advance rent unless the parties later agree in writing. After vacant possession, return of keys, meter reconciliation and inspection, the Landlord will provide a reasonable deduction statement and refund the undisputed balance within 15 days.
- 4. Occupation and use
The Premises may be occupied by 2 adult(s) and 1 minor(s). Other permitted occupants: Spouse Naina Singh; daughter Meher Singh. The Tenant will use the Premises as a private residence, comply with lawful society/common-area rules supplied to the Tenant, avoid nuisance and unlawful activity, and not make structural alterations without the Landlord’s prior written consent.
Subletting position: No subletting or parting with possession without the landlord’s prior written consent. Pet position: No pet is permitted without written consent. Parking: Basement slot B-118.
- 5. Maintenance, repairs and utilities