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Perpetual lease

As per Urban Land (Ceiling and Regulation) Act, 1976, a perpetual lease deed is an agreement between lessor and lessee that can be renewed at the lesseeā€™s option. It has an ongoing tenure over land in exchange for consideration such as rent. Perpetual leases are issued for agricultural or commercial purposes. The landholder complies with the terms of the lease and in the event of failing to do so, the property can be revoked.

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