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RENTAL AGREEMENT
This Rental agreement executed at Chennai on this the 01.08.2024
between ___________________ S/o, ________, residing at
________________________, Chennai-600087, aged about 45 years,
hereinafter referred to as “OWNER” of the ONE PART
And
P. Indumathi W/o, Thiyagarajan aged 38 years, running a business of
"Sales and services of Electronic Display Boards and others"
under the name and style of “RAAN TECHNOLOGIES” "having office at
___________________ hereinafter referred to as ‘TENANT’ of the OTHER
PART.
THIS DEED OF RENTAL WITNESS AS FOLLOWS:
1. That the Owner has agreed to let out for commercial use and the
Tenant has agreed to take on rent for "Sales and services of
Electronic Display Boards and others” under the name and style of
“RAAN TECHNOLOGIES”.
2. WHEREAS the OWNER is the sole and absolute owner of the
residential property which is more fully described in the SCHEDULE
hereunder and at the enjoyment of the OWNER. WHEREAS the
TENANT for want of business purpose approached the owner to let
out the same on a monthly rental basis and, the OWNER has agreed
to let out the said premises.
3. The TENANT has paid this day a sum of Rs. 1 lakh being Security
Deposit by cash on which the receipt of the same is herewith
acknowledged by the OWNER. The said deposit shall not carry any
interest at the time of refund.
4. The TENANT shall pay the OWNER a sum of 30,000 on or before 5th
of every succeeding English calendar month.
5. The term of this agreement of rent commences from 1st August
2024 and it will remain in force a period of 11 months, which is
extendable for further period of 11 months with the option of
TENANT consent of TENANT and OWNER. If not renewed on the
11th month, this Rental Agreement shall stand invalid.
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6. The TENANT shall pay the Electricity Charges in respect of the
rented property during the period of rental agreement before the
due dates specified by the TNEB.
7. That the Tenant shall keep the said premises in clean & hygienic
condition and shall not do or causes to be done any act which may
be a nuisance to other.
8. The OWNER shall pay the Urban Tax, Municipal Taxes Chennai
corporation property tax, water tax and other taxes and outgoing
both present and future in respect of the rented property up to date
and ensure uninterrupted occupation by the TENANT during the
period of rental agreement.
9. That the Owner shall pay for all taxes/cesses levied on the premises
by the local or government authorities in the way of property tax for
the premises and so on. Further, any other payment in the nature of
subscription or periodical fee to the welfare association shall be paid
by the Owner.
10. That the TENANT shall pay to the Owner a monthly
maintenance charge of Rs. 3000/- towards the maintenance of
Common Areas and maintaining the lawn.
11. Either the parties shall give 3 months prior notice at the time
of vacating the premises. That this Rental Agreement can be
terminated before the expiry of this tenancy period by serving 3-
month prior notice in writing by either party.
12. The TENANT shall not keep or store any illegal inflammable
article or explosives that endanger life and property.
That both the parties have read over and understood all the contents of
this agreement and have signed the same without any force or pressure
from any side.
TENANT OWNER
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Witness:
1. W1
2. W2
It witnesses whereof the parties above named have set their hands and
signature on this [DATE] written at Chennai in the presence of witnesses.
