What are the conditions of the Lease Deed?
Main conditions of the Lease Deed are following : 1.The allottee is liable to pay lease rent @ 25% of the premium amount after Five years of the allotment. 2.Allottee can make any change in the constitution only after seeking prior approval from the Lessor. Prior permission is also required in case of sale/transfer of property but only after 10 years of the Lease deed. 3.The allotment is for industrial activity only and premises should be used for manufacturing purpose only and commercial/godown or show room usages are not allowed and there activity may result in cancellation of the allotment. 4.The allottee should not violate the building plan as sanctioned by MCD. Violation of building bye-laws also attract provision of cancellation of allotment.
