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The Periodic Tenancy Agreement is a vital legal document used in the Indian real estate market when parties wish to establish a flexible, ongoing rental arrangement without committing to a fixed term. This type of agreement is particularly useful for situations where both landlord and tenant prefer adaptability in their rental arrangement. The agreement must comply with Indian legislation, including the Transfer of Property Act, 1882, state-specific Rent Control Acts, and local registration requirements. It typically includes comprehensive details about rent payments, maintenance obligations, notice periods, and termination rights. The periodic nature of the tenancy means it continues indefinitely on a recurring basis (usually monthly or quarterly) until proper notice is given by either party, making it distinct from fixed-term leases.

1. Parties: Identification and details of the landlord and tenant, including full names, addresses, and contact information

2. Background: Brief context of the agreement and property letting intention

3. Definitions: Definitions of key terms used throughout the agreement, including 'Property', 'Rental Period', 'Rent', etc.

4. Demise: Formal grant of the tenancy and specification of the periodic nature (monthly/quarterly)

5. Term and Periodic Nature: Details of how the periodic tenancy operates, including the rental period and continuation terms

6. Rent and Payment Terms: Rent amount, payment schedule, payment method, and review mechanisms

7. Security Deposit: Amount, payment terms, and conditions for return of the security deposit

8. Utilities and Charges: Responsibility for utility payments, maintenance charges, and other ongoing costs

9. Tenant Obligations: Core responsibilities of the tenant including maintenance, permitted use, and conduct rules

10. Landlord Obligations: Core responsibilities of the landlord including maintenance, repairs, and statutory compliance

11. Termination: Notice periods and procedures for ending the tenancy by either party

12. Property Return: Conditions for returning the property and settlement of accounts at tenancy end

13. Governing Law: Specification of Indian law and relevant state jurisdiction

14. Notices: Process and addresses for serving formal notices between parties