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Addendum To Commercial Lease Agreement

Addendum To Commercial Lease Agreement Template for India

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Key Requirements PROMPT example:

Addendum To Commercial Lease Agreement

"I need an Addendum to Commercial Lease Agreement to increase the monthly rent by 15% and extend the lease term by 3 years starting March 1, 2025, for our retail space in Mumbai."

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Document background
The Addendum To Commercial Lease Agreement serves as a crucial legal instrument in Indian commercial real estate transactions, allowing parties to modify existing lease terms without creating a new agreement. This document becomes necessary when circumstances require changes to the original lease, such as rent adjustments, term extensions, property modifications, or service additions. It must comply with Indian legislation, including the Transfer of Property Act 1882, Registration Act 1908, and state-specific rent control laws. The addendum maintains contractual continuity while incorporating needed changes, making it essential for evolving business relationships and property arrangements. It requires careful drafting to ensure consistency with the original lease and compliance with local regulations.
Suggested Sections

1. Parties: Identification of all parties to the addendum, matching the original lease agreement

2. Background: Reference to the original lease agreement including date of execution, property details, and reason for the addendum

3. Definitions: Definitions of terms used in the addendum, including reference to definitions in the original lease that remain applicable

4. Effect of Addendum: Statement clarifying that this document serves as an addendum to the original lease and its legal effect

5. Modifications: Detailed description of specific changes being made to the original lease agreement

6. Confirmation of Other Terms: Confirmation that all other terms of the original lease remain unchanged and in full force

7. Governing Law: Confirmation of applicable law (Indian law) and jurisdiction

8. Execution: Signature blocks for all parties and execution details

Optional Sections

1. Rent Modification: Used when the addendum involves changes to rent amount, payment terms, or schedule

2. Term Extension: Used when modifying the duration of the lease

3. Property Modifications: Used when changes involve alterations to the leased premises or usage terms

4. Additional Services: Used when adding or modifying services provided by the landlord

5. Security Deposit Adjustment: Used when modifying security deposit terms or amounts

6. Insurance Requirements: Used when changing insurance obligations of either party

7. Maintenance Responsibilities: Used when modifying maintenance and repair obligations

Suggested Schedules

1. Schedule A - Modified Rent Schedule: Detailed breakdown of modified rent amounts and payment schedules

2. Schedule B - Modified Property Details: Updated description or floor plans of the leased premises if modified

3. Schedule C - Additional Services: Details of any new services added to the lease agreement

4. Appendix 1 - Original Lease Agreement: Copy of the original lease agreement being modified

5. Appendix 2 - Supporting Documents: Any relevant supporting documents such as property modifications plans or service agreements

6. Appendix 3 - Regulatory Approvals: Copies of any required regulatory approvals for the modifications

Authors

Alex Denne

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

alex.den.21@genieai.co
Relevant legal definitions






























Clauses


























Relevant Industries

Commercial Real Estate

Retail

Information Technology

Banking and Financial Services

Healthcare

Manufacturing

Professional Services

Hospitality

Education

Logistics and Warehousing

Corporate Offices

Co-working Spaces

Relevant Teams

Legal

Finance

Operations

Facilities Management

Real Estate

Compliance

Administration

Risk Management

Property Management

Corporate Services

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Legal Counsel

Property Manager

Facilities Manager

Real Estate Director

Operations Manager

Commercial Lease Administrator

Asset Manager

Corporate Real Estate Manager

Compliance Officer

Finance Director

Business Development Manager

Regional Property Manager

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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