Lease Tenure

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cicatrix
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Lease Tenure

Post by cicatrix » Wed, 29 Feb 2012 11:47 pm

Hey,

What is the common lease tenure for an apartment and is there a lock in period i.e. a minimum no. of months that one has to live in the apartment?

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sanjivvohra
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Post by sanjivvohra » Thu, 01 Mar 2012 4:44 pm

Typically it is 12 months (lock in for 12 months) or 24 months (lock in for 12 months) with a release clause after 12 months based on the 'diplomatic clause' i.e. if you are transferred out after 12 months, you can release the appartment.
Take note of the notice period though, which is anything between 30-90 days (negotiable).

Surf the forum, you will find enough information on this topic.
Sanjiv

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