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The Standard Form Of Cooperative Apartment Sublease is a crucial document used in the Indian residential property market when a member of a cooperative housing society wishes to sublease their apartment to a third party. This document is specifically designed to address the unique requirements of cooperative housing arrangements in India, where the property ownership structure involves society membership and share certificates rather than traditional freehold ownership. The agreement ensures compliance with various Indian laws including the Transfer of Property Act, state-specific cooperative society acts, and local rent control regulations. It's particularly important as it requires society approval and must balance the rights of the sublessor, sublessee, and cooperative society. The document typically includes comprehensive terms covering financial obligations, maintenance responsibilities, society rule compliance, and specific restrictions or conditions imposed by the cooperative society.

1. Parties: Identification of the Sublessor (member of cooperative society), Sublessee, and the Cooperative Housing Society

2. Background: Context of the sublease, including details of the main lease/ownership and cooperative society approval

3. Definitions: Definitions of key terms used throughout the agreement

4. Premises Description: Detailed description of the apartment being subleased, including unit number, floor, building name, and society details

5. Term and Renewal: Duration of sublease, commencement date, and renewal terms

6. Rent and Security Deposit: Monthly rent amount, payment terms, security deposit details, and method of payment

7. Maintenance Charges: Responsibility for society maintenance charges and other recurring payments

8. Utilities and Services: Responsibility for utility payments and essential services

9. Use of Premises: Permitted use of the premises and restrictions

10. Repairs and Maintenance: Responsibilities for repairs and maintenance of the apartment

11. Society Rules Compliance: Obligation to comply with cooperative society bylaws and rules

12. Insurance: Requirements for insurance coverage

13. Assignment and Further Subletting: Prohibition or conditions for further assignment or subletting

14. Termination: Grounds and procedure for termination of the sublease

15. Return of Premises: Conditions for returning the premises upon lease termination

16. Governing Law: Applicable laws and jurisdiction

17. Notices: Method and addresses for serving notices

18. Execution: Signature clauses and witness requirements