Requirement to register cmmon area maintenance contract in connection with leasedcommercial property
jacob
(Querist) 05 June 2013
This query is : Resolved
Dear experts,
A kerala based company has taken a commercial property in SEZ on lease. Only a part of the floor is taken on lease and the rest portion of the floor is leased to two other companies.
Lease is executed and registered. As per lease terms the three companies should jointly take care of furnishing and developing the common areas (hall way and such other areas).
Now these three companies have agreed to share the cost of common area development and "maintenance" at the ration 50, 25 and 25 percentage (the total cost for development is not determinable).
Whether the agreement entered into by three companies for common area development and maintenance needs to be registered?
R.K Nanda
(Expert) 06 June 2013
yes,it must be registered.
ajay sethi
(Expert) 06 June 2013
the 3 companies have to share the cost of maintenance of common areas as per the lease deed . the said agreement is regd .it is not ne cessary that the agreement beween 3 companies determining share of each company in maintenance be regd. if you so desire you can regsiter the agreement .
Raj Kumar Makkad
(Expert) 06 June 2013
Your reply rests in the lease deed duly executed by the companies.
