LEASE DEED

This Lease Deed is made and executed on this 23rd day of January 2024, at Hyderabad, by and
between

1. SMT. SOMU LAKSHMI ANITHA, W/o. Sri. S. Bhaktavatsala Reddy, aged about 52 years,
resident of Door No. 26-1-840, B. V. Nagar, SPSR Nellore, Andhra Pradesh (PAN
RZJPS9999M) (LESSOR - 1)

2. SMT. BONDILI GEETHA SINGH, W/o. Sri. Bondili Balaji Singh, aged about 39 years,
resident of Flat No.201, Vaishnavi Enclave, Banglathota, Vinayaka Temple, Nawabpet,
Nellore, Andhra Pradesh - 524002 (PAN AQYPC9036E) (LESSOR - 2)

(Hereinafter referred to as ‘LESSORS/LANDLORDS’ which terms shall mean and include all
his/her/their legal heirs, legal representatives, successors, executors, attorneys, agents, assigns
and administrators etc.,) of the one part.
AND
NEXGEN EDUCATIONAL TRUST a registered Trust bearing Regn. No.231/IV/2009, Ranga Reddy
having its office at Plot No. 80, Shri Sai Plaza, Ayyappa Society, Madhapur, Hyderabad- 500081
represented by its trustee Mrs. Kavitha Muddana, D/o. Hanumantha Rao Muddana, aged about
33 years, Residing at Plot No.162, Flat No. 202, Svs Pleasant, Miyapur, Mayuri Nagar, Huda
Colony, Hyderabad-500049.

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(Hereinafter referred to as the ‘LESSEE /TENANT’ which term shall mean and include all its heirs,
partners, successors, attorneys, agents, assigns and administrators, etc.,) of the other part.

Whereas the LESSORS are the absolute owners and possessors of property bearing Survey No’s
249-1, 249-2, 249-3, in Brundavanam Gardens Layout admeasuring 1,327.4 square yards,
situated at Muthukuru Mandal and Village which the LESSORS had purchased are as follows:

Sale deed No Survey

Sl.No Seller Buyer Plot No Extent
and date No
5918/2023, S. Lakshmi
1 66 340 Sq. yards
Dt:27.12.2023 Anitha
5919/2023,
2 Y. B. Geetha Singh 249-1, 65 337 Sq. yards
Dt:27.12.2023
Jayaramaiah 249-2,
5920/2023, 306.24 Sq.
3 & 3 Others B. Geetha Singh, 249-3 68
Dt:27.12.2023 yards
S. Lakshmi
5921/2023, 344.16 Sq.
4 Anitha 67
Dt:27.12.2023 yards
1,327.4 Sq.
Total yards

The above sale deeds are registered at Joint Sub Registrar Office Muthukur.

A building is proposed to be constructed on 640 sq.yrds out of the above total area consisting of
Ground + 3 floors with total plinth area admeasuring 18,426 Sq.fts ,Cellar 1051 sq.fts and
remaining 687.4 Sq.yards, of open land for playground, which is specifically described in the
schedule annexed hereto and which will herein after be referred to as the demised premises.

Whereas the LESSEE has approached the LESSORS to let-out the above said property for the
purpose of starting Educational Institution for a lease period of 10 (Ten) years, w.e.f. 13th June
2024 and run till 12th June 2034, on the monthly rent as follows:

Sl# Building/playground Extent Rate per sq.ft Rent

Amount Rs.

01 Building 18426 sq.fts 13/- 2,39,538/-

02 Cellar 1051 Sq.fts 6.50/- 6,832/-

02 Playground 687.4 sq.yrds Consolidated 15,000/-

Total 2, 61,370/-

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However, if the LESSORS does not cooperate with the LESSEE in any respect for handover of
premises and smooth running of its operations prior to lease period/handover of premises, then
LESSEE have full right to terminate this the lease deed with immediate effect and interest free
security deposit and short-term security deposit shall be refunded within 7 Days.

NOW THIS LEASE DEED WITNESSETH AS FOLLOWS:

1. The LESSORS hereby declare that they are the owners and possessors of the demised
premises which is more fully described in the schedule mentioned hereunder.

2. That in pursuance of the above agreement and in consideration of the rent herein reserved
the LESSORS do hereby agree to transfer by way of lease on or before 13th June 2024, all
that its part and parcel of the scheduled property unto the LESSEE to hold the same till the
subsistence of the lease on the following terms and conditions. The actual plinth area of
the building shall be determined after completion of construction of the building. The rent
will be paid only for the actual available/constructed plinth area under utility.

3. The term of lease is for a period of 10 (Ten) years, The lease period will commence from
13th June 2024 and run till 12th June 2034 or 10 (Ten) years from the date of actual
occupation of building by the LESSEE. The LESSEE and the LESSORS have the option of
terminating this lease deed by serving a notice of 6 (Six) months in advance from either
side. It was also agreed that the vacation notice will not be served in the middle of
academic year. The Lease period may be renewed after the expiry of Lease agreement with
the consent of both the parties on the agreed terms at that time.

4. That the LESSEE has agreed to pay a monthly rent as follows:

Sl# Building/playground Extent Rate per sq.ft Rent

Amount Rs.

01 Building 18426 sq.fts 13/- 2,39,538/-

02 Cellar 1051 Sq.fts 6.50/- 6,832/-

02 Playground 687.4 sq.yrds Consolidated 15,000/-

Total 2, 61,370/-

The rent payable is subject to deduction of TDS as per Income Tax laws, by way of demand
draft / cheque on or before 10th day of next english calendar month and the TDS certificate
in form – 16A of the IT Act will be issued once in a year.

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 The rent shall be paid to the LESSORS in equal ratio as follows:

Sl Name of the LESSORS Rent Share Monthly Rent

No. in Ratio Amount

1. Somu Lakshmi Anitha 50% Rs.1,30,685/-

2. Bondili Geetha Singh 50% Rs.1,30,685/-

Total 100% Rs.2,61,370/-

The LESSEE’s liability to pay rent to the LESSORS will commence from 13th June 2024 or on
date of actual occupation of the completed building by the LESSEE. The rent will be paid in
proportion to the occupied slab area of the building. Common areas like Parking, elevation
balconies, O.T.S. will not be considered for the calculation of the rent. However, the
LESSEE shall have right to utilize the space/area along with the building.

5. Both the parties agree that post handover of premises, they will execute the building
handover letter and that the said letter will reflect the actual area and actual date of
possession of the building.

6. That the LESSORS agree to provide/construct the required no. of internal partitions, toilets,
flooring, water, electricity etc. as per the requirements of the LESSEE.

7. As part and parcel of this deal the LESSORS have agreed to let the LESSEE use the open land
for a playground which is also co terminus with this lease deed.

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8. That the LESSEE agrees to enhance the rent at the rate of 10% for every 2 (Two) years over
and above the existing rent. In this case next enhancement shall take place on 13th June
2026 or 2 (Two) years after the actual occupation of the building.

9. That the LESSEE has agreed to pay to the LESSORS a sum equivalent to 12 months’ rent i.e
Rs.31,44,000/- (Rupees Thirty-One Lakhs and Forty Four Thousand only) towards interest
free rental deposit. If the LESSEE serves vacation notice the lease rentals cannot be paid
from the date of notice. The lease rentals for the period after issuing notice and before
actual vacation of the building can be adjusted against rental deposit. The balance if any
left will be refunded immediately by the LESSORS to the LESSEE.

The Interest free security deposit shall be paid to the LESSORS in equal ratio as follows:

Sl Name of the Deposit Deposit

No. LESSORS Share Amount in Rs.
in Ratio

1. Somu Lakshmi 50% Rs.15,72,000/-

Anitha

2. Bondili Geetha 50% Rs.15,72,000/-

Singh

Total 100% Rs.31,44,000/-

10. That the LESSEE has also agreed to pay sum equivalent to 6 Months’ Rent i.e
Rs.15,72,000/- (Rupees Fifteen Lakhs Seventy-Two Thousand only) to the LESSORS
towards short term security deposit which shall be deducted in 12 monthly equal
installments from the rent payable from the date of occupation of the building.

The short-term security deposit shall be paid to the LESSORS in equal ratio as follows:

Sl Name of the LESSORS Short term Short term

No. security Deposit security Deposit
Share in Ratio Amount in Rs.

1. Somu Lakshmi 50% Rs.7,86,000/-

Anitha

2. Bondili Geetha Singh 50% Rs.7,86,000/-

Total 100% Rs.15,72,000/-

11. That the building shall be constructed as per the approved plan by the respective Authority
and as per CBSE norms. The plan of the building to be constructed shall be signed by both

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 the parties and the said plan would be treated as part and parcel of this deed. The
elevation of the premises should be consulted with the LESSEE and designed so as to bring
out rich ambiance to the structure and its location.

12. The LESSEE shall have a right to alter the building according to the convenience without
affecting the utility and the life of the building with the prior approval of the LESSORS in
writing for major works.

13. That the LESSEE hereby agrees to use the said premises for the purpose of running
educational institution(s) and not for any other purpose. The LESSEE is at liberty to use the
leasehold premises for any other Educational Institutions established by him/them.

14. The LESSEE has a right to sub lease the property to any of its group Companies/ firms/
Trusts etc. for the purpose of running the educational institutions.

15. That the LESSORS shall be liable to pay the property tax, GST, all other municipal taxes and
statutory taxes levied by the Municipal Corporation or local authority or State or Central
Government in respect of the building. However, Water and Electricity consumption
charges as per the meter readings and the bills issued by the competent authorities shall be
paid monthly/regularly by the LESSEE during the tenancy.

16. That the registration charges whatsoever required for getting the lease deed registered for
any/all purposes with sub-registrar or district registrar shall be borne by the both the
parties in 50:50 ratio. The LESSORS must agree to register a separate lease deed that is
required to be submitted get permission to run the educational institution, this expense
will be borne by the LESSEE only.

17. That the LESSORS agree to undertake the responsibility of coloring/painting and doing
minor repairs, required for the demised premises once in 3 (Three) years in order to keep it
in good state. The LESSORS agrees to undertake art painting for pre-primary classrooms
and ground floor corridor. In case the same is undertaken by the LESSEE with the prior
approval of the LESSORS, the cost incurred by the LESSEE shall be reimbursed by the
LESSORS by way of deduction from the succeeding monthly rentals payable.

18. The additional electrical consumption deposit (ACD) shall be borne by the LESSORS. In case
the ACD is paid by the LESSEE the same shall be reimbursed by the LESSORS by way of
deduction from the next month rentals. Transformers to be erected by the LESSORS
according to the technical and electrical requirement proportionate to the building.

19. Entire building is to be fixed with tube light, bulb fixtures and fan Hooks as directed by the
LESSEE. Speaker cables and telephone cables should be provided as directed by the LESSEE.
The LESSORS must provide pipelines and wiring for CCTV cameras at all required areas as
desired by the LESSEE.

20. The LESSORS must provide sufficient water for drinking and sanitary purpose. There must
be a bore well drilled and fit with a 5 HP motor to pump water to an overhead tank with a
capacity of 10,000 liters from where pipelines will let out water to restrooms and at

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 required spots. Also, if the said bore well dries up it is the responsible of the LESSORS to
drill a new one at their own cost or the same will be undertaken by the LESSEE and the
spent amount will be deducted from the rent. There should also be a sump in the ground
level where drinking water will be stored and pumped into a separate 5000-liter tank on
the terrace from where pipelines will lead to outlets at each floor level where it will be
used.

21. The LESSORS must provide sheds at terrace to install RO water plant and provide separate
tanks with required capacity for drinking cool water and RO water and must provide
separate pipelines from the water tanks to all the floors.

22. All rooms/corridors are to be provided with reputed quality anti-skid tile flooring and
toilet/restroom/urinal floors, walls, passages to be fitted with glazed anti-skid tiles.
Corridors, two staircase walls to be provided with tiles or enamel paint up to the height of
3 to 4 feet. The doors frames shall be with wood sections, main door with flush shutter,
windows of sliding UPVC make and bathroom doors with bison board paneled shutters/ G I
sheet shutters. That the LESSORS agrees to provide the doors, windows and the
bathroom’s fittings of good quality. Office rooms, visitors longue, Director/Principal rooms
shall be given altek finishing on the walls and the flooring with vitrified tiles. LESSORS also
agree to provide front elevation to the building for the front entrance, All floors including
two staircases with railing to be furnished with iron gates as directed by the LESSEE
wherever necessary. All open balconies/OTS, corridors to be provided with grills.

23. That the LESSORS agrees to provide a compound wall around the building with the gates
erected at the required areas. And also agreed to provide provision for lift as per the
requirement of the LESSEE.

24. That the LESSORS have agreed to provide wastewater treatment plant (S.T.P.) at the
scheduled premises, with a provision to divert the treated water to nearby drain without
any complications from the public or from the Municipality / Pollution Control Board.

25. Both the parties agree that the LESSORS is responsible for the structural maintenance of
the building till the completion the term of lease.

26. LESSORS will use good quality fittings for mechanical, electrical and plumbing. LESSORS will
be responsible for the maintenance with respect to the mechanical, electrical and plumbing
equipment’s for the first 2 years.

27. All classrooms to be constructed platform of 8”x 4½ ft. at the floor level below the area
where the chalk board is proposed to be placed. Wooden door stoppers for classrooms and
vision glass of 6” diameter to be installed in all the doors. Cement racks to be provided in
each classroom, office block, & reception as per the requirement of the LESSEE.

28. In the event of any portion of the leased premises being taken away/acquired for the set-
back or for the road widening purposes or otherwise by the statutory authorities the
LESSEE shall not be entitled to claim any compensation or any other claim whatsoever for

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 any such action from the LESSORS property. However, the lease rentals of the premises
shall be reduced as per the available plinth area with immediate effect.

29. The LESSORS agrees to abide by the mutually agreed schedule of construction annexed to
this lease deed. LESSORS agrees to allow LESSEE to monitor progress of the works from
time to time. LESSEE will inspect the progress in the first week of June 2024 and determine
if the work is on schedule. If the work is behind schedule and the LESSEE determines that
the LESSORS will not be able to handover the completed building by 01 st July 2024, LESSEE
has the right to postpone the occupation of the property for the next academic year, i.e.
LESSEE will take possession of the building 2025 -26.

30. Both LESSORS and LESSEE agree that the building should be handed over to LESSEE by 01st
July 2024 at the latest. In case there is any delay, and the LESSEE agrees to such delay,
LESSORS agrees to forgo rent until the end of the following month, i.e. if the building is
handed over in July, LESSORS agrees to forgo rent until end of August.

31. The LESSORS represent and warrant that the LESSORS are in physical and lawful possession
of the DEMISED PREMISES and are fully entitled to execute this lease deed and the
DEMISED PREMISES can be used for the activities of the LESSEE’s business of running the
educational activity and can enjoy quiet and peaceful possession and use of the DEMISED
PERMISES. In the event the LESSORS have mortgaged or mortgaged at any time, the
DEMISED PREMISES, the LESSORS shall ensure that the leasehold right and interest hereby
created in favor of the LESSEE is not in any manner disturbed/hindered/affected by the
LESSORS’s mortgage during the subsistence of this deed.

32. The LESSORS promises to assist the LESSEE to claim warranty etc. in the first year.
Thereafter the cost of all minor repairs shall be borne by the LESSEE. The LESSEE is not
responsible for structural defects because of natural calamities like earthquake, Hurricanes,
riots, fire ablaze etc. Soil load to be provided wherever required. Security posts (Rooms) at
all the gates (including main gate) shall be provided by the LESSORS. The approach road to
the premises will be provided by the LESSORS.

33. In the event, the LESSORS offer the demised premises for sale/transfer to other third party/
i.e. as a whole or in part/s in future, the LESSORS shall notify the LESSEE well in advance and
the LESSORS shall ensure that such sale/transfer by the LESSORS shall be subject to the lease
in favor of the LESSEE. The LESSORS shall in such event ensure that the prospective new
owner of the demised premises shall confirm to the satisfaction of the LESSEE that the terms
herein agreed to by this lease deed shall be binding on the said new owner and the said new
owner shall also acknowledge the receipt of the interest free refundable security deposit
from the LESSORS. IT IS HEREBY FURTHER AGREED, UNDERSTOOD AND CONFIRMED THAT a
clause in respect of such option in favor of the LESSEE shall be incorporated in the Deed of
Sale/transfer in favor of such Third party/parties.
34. FORCE MAJEURE: Error: Reference source not foundNeither Party shall be liable to the other
if, and to the extent, that the performance or delay in performance of any of its obligations
under this Agreement is prevented, restricted, delayed or interfered with due to
circumstances beyond the reasonable control of such Party, including but not limited to

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 change in legislation, fire, flood, explosion, epidemic, accident, act of God, act of terrorism,
war, riot, strike, lockout, or other concerted act of workmen, act of Government and/or
shortages of material. The Party claiming an event of force majeure shall promptly notify the
other Party in writing and provide full particulars of the cause or event and the date of first
occurrence thereof, as soon as possible after the event and also keep the other Party
informed of any further developments. The Party so affected shall use its best efforts to
remove the cause of non-performance, and the Parties shall resume performance hereunder
with the utmost dispatch when such cause is removed. If the force majeure continues for a
continuous period exceeding 30 (Thirty) Business Days, the Parties shall assess the possible
options available.
35. The LESSORS has agreed to provide generator shed & platform required and bear the cost of
a brand-new generator with 35 KVA capacity which will be used and maintained by the
LESSEE.
36. Computer Lab/ Multimedia to be provided with electric plug/sockets at the ground level and
electrification to the level of installing A/C’s and the platform raised and neatly tiled.
Laboratories-preferably physics, chemistry & biology are to be fully ventilated, and the
platforms raised and neatly tiled as per the requirement of the LESSEE. Cement Cupboards
with rack facility are to be provided for storage purpose of the instruments under utility.
37. The LESSORS should provide the authorized building plan, Sanitary Certificate, Structural
Soundness Certificate, Fire Safety Certificate (With all fire safety equipment as specified by
the competent authority), Municipal Occupancy Certificate, etc. issued by the competent
authority at the LESSORS own cost. The occupancy certificate will be provided by the
LESSORS within 6 months from the date of occupation of the building.
38. This agreement is subject to arbitration as per the Indian Conciliation and Arbitration Act,
1996 and all disputes regarding this lease deed shall be subjected to Muthukuru Jurisdiction
only.
39. The LESSORS agrees to provide the LESSEE with necessary NOC if the premise of the demised
property is located in any localities that if residential/society/community in nature from their
respective authorized bodies.

Witnesses:

1.
LESSORS

2.

LESSEE

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 SCHEDULE OF PROPERTY

All that part and parcel of the building bearing survey No’s. 249-1, 249-2, 249-3, in Brundavanam
Gardens Layout admeasuring 1,327.4 square yards, situated at Muthukuru Mandal and Village
building consisting of G + 3 floors with total plinth area of 18426 sq.fts,Cellar 1051 sq.fts and
playground consist of 687.4 Sq.yrds leased to the LESSEE is bounded by:

East: common wall

West: 40 feet road
South: Plot no 69
North: Plot no 64

In Witness Where of the LESSORS and LESSEE have signed this Lease Deed at their free will, and
sound mind, without any force or coercion. Having read the above contents and having
understood, they have affixed their hand seals and their signatures on this Lease Deed on the
day, month and year of the first mentioned above in the presence of the undersigned witnesses.

Witnesses:

1.
LESSORS

2.

LESSEE

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