Joint Venture25 Jul 2024, 11:11 pm
G. G. Dandekar Properties Ltd Approves Leave and License Agreement for Nagpur Factory Premises
AI Summary
G. G. Dandekar Properties Ltd has approved a leave and license agreement for their factory premises situated in Nagpur. The agreement is for a term of 38 months, starting from 1st August 2024. The fit-out period is two months, from 1st August 2024 to 30th September 2024, after which the license commencement date will be 1st October 2024. The monthly license fees are Rs. 1 Lakh during the fit-out period and Rs. 3 Lakhs from 1st October 2024 to 31st July 2025. The license fees will escalate by 5% after completion of every 12 months from the license commencement date.
Key Highlights
- G. G. Dandekar Properties Ltd approves leave and license agreement for Nagpur factory premises.
- The agreement is for a term of 38 months, starting from 1st August 2024.
- The fit-out period is two months, from 1st August 2024 to 30th September 2024.
- The monthly license fees are Rs. 1 Lakh during the fit-out period and Rs. 3 Lakhs from 1st October 2024 to 31st July 2025.
- The license fees will escalate by 5% after completion of every 12 months from the license commencement date.