Document background
The Commercial Lease Extension Addendum is essential when parties wish to extend an existing commercial lease agreement in India without creating an entirely new lease. This document is typically used when the original lease is approaching its expiration date and both parties agree to continue their landlord-tenant relationship. It must comply with Indian property laws, including the Transfer of Property Act, 1882, Registration Act, 1908, and relevant state-specific regulations. The addendum includes critical information such as the extension period, revised rent terms, any modifications to the original agreement, and confirmations of existing terms that remain in effect. It's particularly important when businesses need to maintain their current location while updating terms to reflect current market conditions or changed circumstances. The document requires proper execution and, depending on the extension period, may need registration with appropriate authorities and payment of stamp duty under Indian law.
