Commercial Office, Shop & Space Lease Agreement Template

COMMERCIAL LEASE AGREEMENT

This Commercial Lease Agreement ("Agreement") is executed on this [Day] day of [Month, Year] at [City, State]:

BY AND BETWEEN:
[Lessor Legal Name / Landlord], residing/having registered office at [Lessor Address] (hereinafter referred to as the "LESSOR", which expression shall include legal heirs, successors, and assigns) of the FIRST PART;
AND
[Lessee Company Name / Tenant], having its registered office at [Lessee Address], represented by its authorized signatory [Name] (hereinafter referred to as the "LESSEE", which expression shall include permitted assigns) of the SECOND PART.

1. DEMISED PREMISES:
The Lessor hereby demises and leases to the Lessee Office/Unit No. [Unit No], situated at [Building Name, Address], admeasuring approximately [Carpet Area] sq. ft. ("Demised Premises").

2. TERM & LOCK-IN PERIOD:
2.1 The lease term shall be for a period of [e.g., 36 months / 5 years] commencing from [Rent Commencement Date].
2.2 Both parties agree to a mandatory Lock-in Period of [e.g., 12 / 24 months], during which neither party shall terminate this lease except for uncured material breach.

3. RENT & ESCALATION:
3.1 The Lessee shall pay monthly rent of INR [Monthly Rent] (plus applicable GST) on or before the 7th day of each calendar month.
3.2 The rent shall escalate by [e.g., 5% annually / 15% after 3 years].
3.3 Lessee shall deduct TDS as applicable under Section 194-I of the Income Tax Act, 1961 (10% on commercial property rent).

4. INTEREST-FREE REFUNDABLE SECURITY DEPOSIT:
Lessee has deposited INR [Security Deposit Amount] (equivalent to [X] months' rent) as security, refundable upon handover of vacant possession.

5. GOVERNING LAW & JURISDICTION:
This Agreement shall be governed by the laws of India and subject to the exclusive jurisdiction of the Courts at [City].

IN WITNESS WHEREOF, the parties hereto have signed this Agreement on the date first written above.

LESSOR: ________________________         LESSEE: ________________________
Witness 1: _____________________         Witness 2: _____________________