Is it true that rent agreement cannot exceed three years in Mumbai?

My current office agreement starting June 2013 is for a period of 5 years with a 3 year lock in. On May 7th 2005, the rule that a rental agreement cannot exceed 3 years was amended. Now the maximum period is 5 years. Here's a link with some rules http://www.mid-day.com/news/2012/may/090512-mumbai-Lease-of-strife.htm However, this does not mean that you absolutely cannot have a leave & license agreement beyond 5 years. The standard agreement available with the broker may not work though & you might have to involve a lawyer. For a 5 year agreement, the standard agreement suffices. Here's a link that talks about a 9 year agreement http://mumbai.olx.in/pre-lease-property-for-sale-iid-490093614 There sees to be a maximum lease period though, beyond which the agreement becomes invalid. There was no such cap earlier (there are lease agreements in force that are for a period of 999 years), but as of 2013, its 30 years http://www.mumbai-real-estate.in/prices/expiring-long-lease-contracts-augment-price/

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No. Specific answer to your query is Rent Agreement or Also called as Leave and Licence Agreement can be drafted legally for 60 Months tenure. That is 5 years. One must get the agreement registered to safe guard the interest the of  Landlord and tenant. get it done at http://www.rentagreementregistration.com Landlord can add a clause to vacate the premises in 6 moths notice. Tenant at the other hand can add a clause to have a lock in period of at least 36 months. You can find more information at igr maharashtra website.Download a sample copy of agreement here - http://www.rentagreementregistration.com

Yes you can give your office on rent for 5 years. Its called leave and licence. If you want you can do it for more than 5 years but that would be lease agreement. Beware of lease agreements as its creates tenancy rights for lessee. It make difficult for you to remove him. So as long as its 5 years go for leave and license agreement. Just make sure to take deposit of atleast 6 months of rent.