Basic Format of Perpetual Lease of a Land

This Contract of Lease entered into on the…………..day of…………….between X son of……….r/o………..(hereinafter called ‘first party) and Y s/o………….r/o………………………(hereinafter called the ‘second party’) witnesses as follows :-

1.     The first party hereby agrees to lease out the plot of land number …………. situated in ………..in the District …………..of…………………….., move precisely described in the schedule annexed herewith , to the second party from the date of this lease in perpetuity on payment of yearly rent of Rs……………………….payable in four quarterly installments of Rs……………………first installment failing due on……..day of…………month, second installment failing due on……..day of…………month, third installment failing due on……..day of…………month each year.

2.     The second party hereby agrees:-

                       i        To pay the rent hereby reserved in the manner hereinbefore started.

                      ii        To pay all rates, taxes and charges which are payable or may so become at a future date in respect of the said plot of land.

3.     Default in payment in two consecutive installments of rent shall entitle the first party to enter upon the said land and determine the lease.

IN WITNESS WHEREOF the first and second party have signed this contract on this day and year first above mentioned.

Signed by                                                                      Signed by

……………                                                                    ……………

1st party                                                                       2nd party

In the presence of                                                          In the presence of

……………                                                                   ………..