March14, 2017
Mr. Aman Puri,
M/s Foresight Packaging LLP
431, Udyog Vihar Phase –III, Gurgaon, Haryana
Sub : Letter of Intent (LOI) pertaining to INDUSTRIAL Independent Building and its Premises Bearing Plot
no 98, Sector 5, IMT Manesar, Gurgaon, Haryana
Dear Mr. Puri,
I/We hereby confirm our intent to lease of Industrial plot bearing no. 98, ad-measuring 1012.5 SqMtrhaving built-up
area of 17000 sq.ft. consisting Basement+GF+FF1/4thsituated in Sector 5, IMT Manesar, Gurgaon, Haryana, on
the following terms and conditions:
Lessor : M/s Foresight Packaging LLP
Lessee : M/s Timeline Constructions Pvt. Ltd. 311, Sector 40, Gurgaon, Haryana.
Property Address : Plot no 98,Sector 5, IMT Manesar, Gurgaon, Haryana.
Rent : INR 1,70,000 Per Month
Built-up Area : Entire Building and its Premises consisting of Basement + GF + FF1/4th
Service tax/GST(pertaining to Rent): To be borne by the Lessee.
Interest Free Refundable
Security Deposit : Lessee will pay interest free refundable security deposit
equivalent to 3Months payable Rent now and in future i.e. Rs. 5,10,000/-
Remittance of Rental : Rent shall paid by the Lessee on or before 7thday of
each calendar month in PDC [PDC’s for 27months24 months (for Lock-in-
Period + Notice Period) will be handed over to the LESSOR at the Time of the
Signing of the Agreement]
Lease Tenure : 9Years ( Initial term of 4years and 11months and
the Lessee having an option to renew the Lease for
another 1term of 4years and 11months)
Lock-in-Period : 24Months from the date of commencement of Lease
Rent Escalation : There shall be an escalation of 5%+ Service tax/GSTon the last rent paid
after every 12Months.
Notice Period : Lessee shall give 3months notice prior vacating
post Lock-in-Period.
Fit out Period : Lessee is entitled to a rent-free fit out period uptill 06.04.2017
commencing from the date ofSigning of this LOI
Handover of Possession : Possession for commencement of fit-out shall be handed
over by the Lessor to the Lessee immediately upon signing of this LOI
Commencement of Lease & Rent : Rent and Lease shall be commence w.e.f. 7thApril 2017
Nature of Agreement : Lease agreement shall be signed by both the parties within
10days from the date of signing of this LOI.
Property/ House
Municipal Related Taxes : To be borne by the Lessor
Stamp Duty & Incidental
Expenses for Registration : To be borne equally by the Lessor and the Lessee
Electricity / Water & Sewer Charges
and Maintenance Charges of HSIIDC : To be borne by the Lessee
Security Deposit Schedule : Lessee shall remit Security deposit equivalent to Rs. 51,1070,000/-
(3 1Month Rent)upon signing of this LOI
And Rs. 3,40,000/- (2 month rent) at the time of signing of Lease
Agreement.
Electricity Connection : Lessor shall Provide Electricity Load & Power connection of
49.90 KVA,
Permission for Leasing of Premises: Leasing Permission shall be taken by the LESSOR by the HSIIDC /
Concerning Authorities. The LOI or Lease Deed would be valid only subject
to all the statutory documents related to ownership of the property are in
order.
Amenities : As is where is basis other than broken glasses, broken tiles, bathroom
fittings, along with bathroom doors and rectification of Seepage, and
repaintof seepages spots and Inner Halls wherever necessary.
Also the Doors, Windows, Glass, bathroom fittings which are missing or
broken should be repaired, and Electrical work/ fittings wherever necessary
White wash will be done by Lessor after the installation of the machines if it
is not looking good.
Enclosed is the part security deposit amount of INR ……………../- vide Cheque no. …………. dated ………...2017
drawn on …………………………………………….
Both the parties confirm their agreement to the above
Thanking you
Yours truly, Agreed and Accepted:
______________________________ __ ___________________________
(LESSEE) (LESSOR)
Rajeev Gupta - Director Aman Puri - Partner
for M/s Timeline Constructions Pvt. Ltd. for M/s Foresight Packaging LLP
