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Lease Modification Agreement Template for India

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Key Requirements PROMPT example:

Lease Modification Agreement

"I need a Lease Modification Agreement for our commercial office space in Mumbai to increase the monthly rent by 15% and extend the lease term until March 2025, with all other original lease terms remaining unchanged."

Document background
The Lease Modification Agreement is a crucial document used in Indian real estate transactions when parties need to amend certain terms of an existing lease without creating an entirely new agreement. This document type is particularly relevant when circumstances require changes to rent, tenure, premises area, or other substantial lease terms. The agreement must comply with Indian legislation, including the Transfer of Property Act 1882, Registration Act 1908, and state-specific property laws. It's commonly used in commercial, retail, and industrial leasing scenarios where business needs evolve over time. The document typically requires stamp duty payment and registration when the original lease is registered or when the modification period exceeds one year. This agreement helps maintain legal clarity while providing flexibility to adapt lease terms to changing circumstances.
Suggested Sections

1. Parties: Identification of the lessor/landlord and lessee/tenant with complete details

2. Background: Recitals describing the original lease, its key terms, and the reason for modification

3. Definitions: Definitions of key terms, including references to original lease definitions

4. Reference to Original Lease: Specific reference to the original lease agreement including date, registration details, and current status

5. Modifications: Clear statement of each modification being made to the original lease

6. Effect on Original Lease: Confirmation that all other terms of the original lease remain unchanged

7. Effective Date: The date from which the modifications will take effect

8. Registration and Stamp Duty: Provisions regarding registration requirements and stamp duty payment

9. Governing Law: Confirmation of Indian law as governing law and jurisdiction

10. Execution: Signature blocks for all parties and witnesses

Optional Sections

1. Rent Modification: Detailed section specifying new rent terms, applicable when rent is being modified

2. Term Extension: Section detailing the extended term and conditions, used when lease period is being modified

3. Security Deposit Adjustment: Section addressing changes to security deposit, if applicable

4. Premises Modification: Details of any changes to the leased premises or permitted use

5. Additional Rights and Obligations: New rights or obligations being added to the original lease

6. Maintenance and Repairs: Modified terms regarding maintenance responsibilities, if being changed

7. Insurance Requirements: Modified insurance requirements, if being updated

8. Force Majeure: Additional or modified force majeure provisions, if being updated

Suggested Schedules

1. Schedule A - Property Description: Detailed description of the leased property including any modifications

2. Schedule B - Modified Terms: Comprehensive list of all modifications with original and new terms in tabular format

3. Schedule C - Rent Schedule: Updated rent schedule if rent terms are modified

4. Schedule D - Floor Plan: Updated floor plan if there are changes to the leased area

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

6. Appendix 2 - Required Approvals: Copies of any required approvals or NOCs for the modifications

Authors

Alex Denne

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

Relevant legal definitions



































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Relevant Industries

Commercial Real Estate

Retail

Industrial

Manufacturing

Information Technology

Banking and Financial Services

Healthcare

Hospitality

Education

Logistics and Warehousing

Relevant Teams

Legal

Real Estate

Facilities Management

Finance

Operations

Compliance

Administration

Property Management

Asset Management

Risk Management

Relevant Roles

Real Estate Manager

Facilities Manager

Legal Counsel

Property Manager

Operations Director

Chief Financial Officer

Lease Administrator

Asset Manager

Corporate Real Estate Manager

Compliance Officer

Contract Manager

Real Estate Director

Industries






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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