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Assured Lease Option with Undertaking
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Builder providing option of Assured Lease for Serviced Unit
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Page Count 5
Word count 1931
Price: 199
  1. This Annexure (applicable for Assured Lease option) has been drafted to cover important aspects which needs to be kept in mind in case a company is intending to provide an option of Assured Lease with regards to its serviced unit allotted to Allottee and the same is opted by the Allottee.
  2. It is to be noted that this Assured Lease is applicable only for Serviced Apartment which will be managed by some Hotel Company.
  3. It majorly contains clause how the lease arrangement would be made with such Hotel Company and/or Intermediary Company. For what period lease shall be granted and how the rent would be payable to the Allottee and by whom and what will be the terms and condition which would be required to be complied by the Allottee etc.
  4. Then is also envisages receipt of money by hotel company due to renting of such serviced apartment and then pooling the same at one place. Out of which, one portion will be used towards running expenses and other portion may be used to repay stakeholders.
  5. Please note that user may have to work on this keeping in mind the facts and peculiar conditions of the case in hand. Further in every industry including real estate industry, builders may use different business model, or structure for the same kind of transaction, so clauses may not be so relevant for someone looking from different perspective.
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