( 1) Upon the execution of lease, the lessee shall make payment of a security deposit of the amount based on the period of lease, as under, namely:-
(i) three months lease rent on lease period of upto two years ;
(ii) eleven months lease rent on lease period of more than two years and upto five years;
(iii) eighteen months lease rent on lease period of more than five years and up to ten years; and
(iv) twenty-four months lease rent on lease period of more than ten years and up to thirty years.
(2) The security deposit received under sub-rule (1) shall be kept in a nationalised Bank and the Committee may utilise the amount for development of durgah properties, with the sanction of not less than two-third of the members of the Committee.
Page 3 of 9 / J. Registration of lease .- (1) A lease for any period exceeding one year and up to thirty years shall be registered at the office of Registrar or Sub-registrar under whose jurisdiction the property is situated.
(2) The expenses towards registration of lease under sub-rule (1) shall be borne by the lessee.
10. Lease rent- (1) The lessee shall pay to the lessor for the leased premises lease rent in respect of each year of the term or renewal terms, as the case may be, payable in advance and without notice or demand, in monthly or annual installments as agreed upon between the parties, from the date of execution of the lease agreement.
(2) The lease rent tendered by the lessee on time by way of money order, if refused by the lessor in accepting or giving receipt, may be deposited before the office of the Durgah Committee/Nazim and the Lease rent shall be treated as validly deposited if deposited by the lessee within 15 days of such refusal by the lessor.