b. its successor in interest,
c. or a trustee, guardian or receiver receiving rent for a
premises on behalf, on account of or for the benefit of a person
ineligible to enter into contracts.
Premises-
b. parking, garage or grounds, out houses, appertaining to
building,
not including
d. hotels, lodging dharamshala, inn
e. owned or promoted by government, government entities, cantt,
religious, charitable institutions, owned by trust, wakf,
f. given on rent to employees as per service contract,
g. premises of public interest, as may be notified.
Points e, f, g can be covered voluntarily.
Tenant or ‘Lessee -
b. on whose behalf or on whose account, rent is payable for any
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India s real estate market is said to grow to INR 65,000
crore (US$ 9.30 billion) by 2040 from INR 12,000 crore (US$ 1.72
billion) in 2019. Real estate sector in India is expected to reach
a market size of US$ 1 trillion by 2030 from US$ 120 billion in
2017 and contribute 13% (thirteen percent) to the country s GDP
by 2025. Retail, hospitality, and commercial real estate are also
growing significantly, providing the much needed infrastructure for
India s growing needs. Indian real estate increased by 19.5%
CAGR from 2017 to 2028.
1
The recent trends in the real estate market required