RENTAL AGREEMENT

This Agreement is made and executed on this Date. 29-07-2016 by and between:-

1. Mr. G.H. Prasada Rao, S/o G. Governor Rao, and aged about 45 years Residing
at H.No. 18-25, Patha peta, Dhone - 518 222.
(Here in after called as Owner)

IN FAVOUR OF

Mr. V. Srinivasulu Achari, S/o V. Brammaiah Achari, Banda meedi Ramadurgam (B.
Ramadurgam), Dhone(Mandal & post) – 518 222.
(Here in after called as Tenant)

Where as the Mr. G.H. Prasada Rao, is the absolute owner and possessor of the
premises bearing No. 7-130/3, Kothapeta, Dhone – 518 222.

Where as the Tenant approached the owner for letting out the premises particularly
described in the scheduled here under and the owner had agreed to let out the same for a
period of 24 months (Twenty four Months) with effect from 29 th July 2016, subject to the
following terms & Conditions which the tenant has agreed to abide.
1. The tenant shall pay a monthly rent of Rs. 15,000/- (Fifteen thousand Rupees
Only) on or before 2nd of every month.
2. The Tenant has deposited with the owner Rs. 1,00,000 (one lac Rupees only) as
advance. The said sum shall carry no interest but refundable to the tenant on the
termination of the tenancy. It is open for the owner to adjust any arrears of rent or
amount of damage if any caused by the tenant.
3. The tenancy shall be in force for a period of 24 months from 29th July 2016.
4. The owner shall have the rights to terminate the tenancy if he fails to pay the rent
regularly for a period of 2 months or commits breach of any of the terms herein
and take possession of the shop.
5. The tenant shall use the premises only for the shop purposes (Gold Jewellery
Shop Purpose only) and shall not use it for any offensive or objectionable
purposes. The tenant should not give sub lease/Rent to anybody. The Tenant here
by agrees to keep the premises clean, tidy, healthy and in good substantial
condition during the term of the deed.
6. In case of damage of the doors, Windows, Shutters, Flooring, walls, electric
wiring etc., the same should be got repaired by the tenant on his own cost.
7. The tenant hereby agrees that he will not make any alterations, fittings, structural
additions without the consent of the Owner.
8. The tenant should not take any loan on this house/shop.
 9. The tenant hereby to agrees to keep the drainage clean and any obstructions
should be got cleared by him. The tenant shall pay the electricity charges
separately. In case of non-functioning of electric meter, he shall get them repaired
with his own cost.
10. The Tenant hereby agrees that 2 months notice on either side required for the
termination of the tenancy.
11. If the parties here to agree to continue the rent/lease after the expiry of the
Agreement period (28 July 2018), then the tenant agrees to enhance the rent as
agreed between the parties here to in addition to the present rent after entering
into a separate agreement for the same.
12. After 24 months (2 years) the agreement may be renewed, at the option and
discretion of the owner.
IN WITNESS WHEREOF both the parties have set the signatures on the day month
and year above mentioned.

WITNESSES: OWNER
1.

2. TENANT