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The Retail Lease Agreement is a vital commercial contract used in the Indian real estate market when a property owner (lessor) agrees to rent retail space to a business operator (lessee). This document is essential for establishing legally binding terms for retail space occupancy, incorporating requirements from Indian property law, particularly the Transfer of Property Act, 1882, and state-specific regulations. It's commonly used for retail establishments in standalone properties, shopping centers, and mixed-use developments. The agreement typically includes detailed provisions for rent, maintenance, operating hours, fit-out requirements, and other retail-specific considerations. It must comply with local municipal laws, relevant state retail establishment acts, and registration requirements under Indian law. This document is crucial for protecting both landlord and tenant interests while ensuring smooth retail operations.

1. Parties: Identifies and provides full details of the lessor/landlord and lessee/tenant, including registration details for companies

2. Background: Outlines the context of the lease, property ownership, and intent of the parties

3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty

4. Demised Premises: Detailed description of the leased property including exact measurements and boundaries

5. Term and Renewal: Specifies the duration of the lease and any renewal options

6. Rent and Security Deposit: Details the rent amount, payment schedule, security deposit, and annual escalation

7. Common Area Maintenance: Outlines maintenance charges and responsibilities for common areas

8. Utilities and Services: Specifies responsibility for utility connections, payments, and service arrangements

9. Use of Premises: Stipulates permitted use of the premises and any restrictions

10. Maintenance and Repairs: Defines maintenance obligations of both landlord and tenant

11. Insurance: Specifies required insurance coverage and responsibilities

12. Assignment and Subletting: Rules regarding transfer of lease rights or subletting the premises

13. Alterations and Improvements: Procedures and permissions for making changes to the premises

14. Landlord's Covenants: Obligations and warranties of the landlord

15. Tenant's Covenants: Obligations and warranties of the tenant

16. Default and Remedies: Consequences and remedies for breach of agreement terms

17. Termination: Conditions and procedures for early termination

18. Force Majeure: Provisions for unforeseen circumstances affecting the lease

19. Notices: Communication procedures between parties

20. Governing Law and Jurisdiction: Specifies applicable law and courts for dispute resolution