Industrial Plot No.1, Sector 90, Noida

Industrial Plot No.1, Sector 90, Noida www.infralive.com 41 Infra LIVE June 15, 2022 l e s s e e s ha l l ob t a i n approval of Develop- ment plan within 18 months from the date of registration of Lease Deed f rom t he con- cerned department of the Lessor and complete construction of 40 per cent of the total permis- sible covered area on the allotted plot within 3 years from the date of handing over of posses- sion and shall have to complete whole con- struction within five years from the date of handing over of posses- sion. The lessee has been made aware of and uncondi- tionally agrees that since exemption from payment of Stamp Duty and registration charges is being availed of, no extension of time for completion of the project as per schedule prescribed by the aforesaid GOs is permis- sible. (q) The lessee further agrees that in the event the lessee is unable to adhere to the time schedule set out above and is desirous of extension, then in that event, while claiming extension, they shall have to pay stamp duty and registrat ion charges together with interest 18 per cent from the date of execution of the lease deed till actual date of pay- ment. Extension may be granted in exceptional circumstances by the lessor on such terms and conditions as the lessor may prescribe, including but not limited to payment of extension charges at the rate of 4 per cent of the premium for each year of extension and payable on pro-rata monthly basis. Th e r a t e o f e x t e n s i on charges may be revised from time to time and the revised rate would be binding on the the demised plot as per floor area ratio (FAR) as applica- ble in accordance with the prescribed bye laws, the sanctioned plan and building regulations. A maximum of 30 per cent Ground Coverage and a total 200 FAR is per- missible. 75 per cent area of total FAR would be permit- ted for IT/ITES and remain- ing 25 per cent would be permitted for institutional facilities/ residential/ Com- mercial with a further the condition that not more than 10 per cent of total FAR would be permitted for resi- dential use. The commercial use alsowould not be permit- ted of more than 10 per cent of total FAR. Maximum of 5 per cent of maximum per- mitted FAR be allowed to be used as facilities. T h e L e s s e e m a y b e allowed to rent out the space a s p e r r e qu i r eme n t o f IT/ITES for boosting the private STPs/IT Park in the field of IT. (p) The lessee shall complete the construction and obtain occupancy certificate from the building cell department within the validity period of the approved building plans and put the same in opera- tion as per schedule set out h e r e und e r . Th e l e s s e e unequivocally agrees that in view of the fact that they are ava i l i ng t he bene f i t o f exemption of payment of stamp duty and registration charges in respect of this lease deed, the period within which construction is to commence and be completed shall stand confined to the period as prescribed by the said G.O. No. KNO5-305/11- 2005-500 (136) 2003 Dt: 19.01.2005; 3014/76-6-05 /500( 40) /2000 Da t ed : 19.12.2005; and 2168/78-2- 2005/46 IT/2005 dated: 30.12.2005. Accordingly, the the actual lease rent payable at the time of such enhance- ment. (iii) The lessee has deposited Rs 2,30,71,206 as full premium and one time lease rent of Rs 49,76,143 for additional area of 2,949 sqmtrs. (iv) And the convenants setout in this lease deed and to be performed by the lessee: The lessor hereby demises and leases unto the lessee the plot No. 001 situated at Sector - 90 in NOIDA..., contained by measure- ment of 1,02,949 sqmtrs... And the lessee shall hold the demised plot with its appurtenances unto lease for the terms of 90 years commencing from actual date of execu- tion of lease deed… (b) If the lessee fails to deposit anyone or more of the instal- ments with interest by the dates specified above fur- t h e r i n t e r e s t o n defaulted amount for delayed period shall be charged @ 14 per cent per annum compounded every half yearly on the defaulted amount for the defaulted period. (c) In the event the lessee fails to deposit the lease rent on time interest @ 14 per cent shall be charged on the defaulted amount for the defaulted period. II. T h e l e s s e e h e r e b y u n c o n d i t i o n a l l y a n d unequivocally agrees that: (a) The lessee shall use the plot for the setting up of IT / ITES only and for no other project. No change in project is permissible for any reason whatso- ever. (g) The plot is allotted and leased on 'As is where is basis'. (l) The lessee shall at their own cost construct a building on