Can i accept landlords settlement

To your questions:

)      Now my question is shall we accept the offer of 15 lakhs as it is not a big burden to us. But after 4 years if he wishes not to renew the agreement, can he eject us by simple procedures or he has to start from the beginning i.e. filing case in small causes court.

Accepting the offer for 15 lakhs is your choice based on the prevailing circumstances, if it favorable, you can go ahead or else, decide.   For eviction he has to follow due process of law.  I think your lawyer has not taken up your cse properly hence you have lost it in the lower court.

2)       Is 4 years is ok?   For what?

3)       If he sell the property what will happen to the lease agreement? Will the new buyer honor it?  The new buyer has to honor the lease agreement because you have got no concern with the new buyer, so your owner should have taken your consent before selling otherwise, you can remain a tenant and the new buyer has to again follow due process of law.

4)       If the new buyer wants to vacate us does he have to start from the beginning i.e. filing case in small causes court?  Yes, same due process of law.

5)       He bought the property through property loan; does this have any bad effect on the lease agreement?

That is not your concern, let him face problems that way.

Sir,

Thanks a lot for your reply. 4 years is landlords' preferred lease agreement period. I am asking whether it's ok or should I ask him to stretch it for 5, 6 years.

All we want is to stay as long as possible; we are not able to drag the case in the small court as it was the first ever case faced and not knowing good lawyers. Now we gained some knowledge about court procedures and current lawyer is far better than the previous one.

So now instead of going to high court (can’t drag the case more than 3 years as told by our current lawyer, IF THIS IS NOT TRUE PLEASE REPLY), If the current landlord sell the property or he withdraw the cases (i.e. if he lease it to us), it will be beneficial to us as we can stay without any legal worries, but just want to make sure that the lease amount will be remain secure even when the property is sold to other person. 

From the facts of your query it appears that you need some protection against further harassment of legal litigation and some measure to protect your lease right so that if any new landlord comes in the picture he will not get any scope to evict you and to make the agreement or its correction in such manner so that you can enjoy the continuity of your tenancy for a further period.  To achieve such a goal you need help of a Senior Advocate who has some mastery over drafting an agreement and its rectification and knows jugglery of words and its legal interpretations apart from his depth of knowledge in law. But it will cost you.