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TIDEL Park Ltd
Chennai-113
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TERMS  FOR  ALLOTMENT  OF  AREA  FOR  MULTI BRAND TWO  WHEELER  SERVICE STATION

  1. SPACE AVAILABILITY:

 

The following COMMERCIAL space is available for re-allotment.

Location

Open Area

[sq.ft.]

Rent/sq.ft./ month (Rs.)

Booking Advance  (Rs.)

Activity Permitted

Western Extension

800

34.50

82,800/-

Multi Brand Two Wheeler Service Station

2. TERMS OF ALLOTMENT:  
 (a) Terms of Lease:


Rent on Open Area

Rs. 34.50/- per sq. ft. per month till 31st March 2018 and thereafter rent will be revised based on the direction of the Board of Directors of TIDEL.

Lease Term 

Three years from the date of commencement of the lease

Rent-free fit-out Period

15 days only

Lock-in period

Twenty Four (24) Months of the lease term.

Notice Period

SIX Months after the lock-in period

Operation & Maintenance Charges
 

Rs.4.60/sq.ft./month with an annual incremental rate of 5% unless decided by the Board/Committee of Directors of TIDEL otherwise  from 1st April 2018 onwards.

Electricity & Air-conditioning Charges 

At actual as per TNEB and DG power cost.

Interest-free refundable Security Deposit

Ten months’ Rent.

Date from which the space available

10th September 2017

CGST& SGST and other statutory levies by State or Central Government

Applicable on rent, O & M, Electricity, AC charges and other charges.  Statutory levies also include all the taxes which may become applicable in future.                                                                                                                                   

 

3.  PREMATURE CLOSURE:

In the event of Lessee wishes to terminate the lease agreement prior to the completion of the lock-in period of  TWENTY FOUR months, then the Lessee will have to forego the entire interest-free Security Deposit paid to the Lessor and the Lessor will not be liable to return the said Security Deposit.


After expiry of TWENTY FOUR months, the Lease is terminable on either side by giving SIX months’ notice.

4 .  ALLOTMENT OF SPACE:

  1. Application for allotment of space can be downloaded from the website or obtained in person from the company.
  2. The application form duly filled-in is to be submitted together with interest free booking advance equivalent to three months rent by cheque / DD in favour of “TIDEL Park Ltd.” payable at “Chennai”.
  3. The application received with Booking Advance will be scrutinized and letter of allotment will be issued taking into account the nature of activities proposed to be carried out by the applicant and the TIDEL’s allotment procedure wherein includes prioritization of allotment based on the business model such as 1) Company Owned Outlet  2) Company Authorized Dealers and so on.
  4. The balance amount of interest-free Security Deposit has to be paid within 21 days from the date of allotment by the allotted company. The booking advance of other applicants will be refunded on signing the lease agreement by the allotted company with TIDEL.
  5. The Standard Lease Agreement of TIDEL is to be signed within 30 days from the date of allotment but not later than the date of occupation.
  6. The completed applications should reach the undersigned within the stipulated time.  Applications if any received beyond the stipulated time will be rejected automatically.
  7. Last date for receipt of application with three months booking advance is 21 days from the date of this notification i.e 16th August 2017, 3 p.m.
  8. In case the applicant desires to withdraw the application prior to payment of balance security deposit, the booking advance will be refunded after deducting 10% of the advance paid towards administrative cost incurred by the company.
  9.  TIDEL has the right to accept (or) reject any application without assigning any reason.

Place: Chennai

                    MANAGING DIRECTOR

Date:  26th July 2017

TIDEL Park Ltd.

DOWNLOAD APPLICATION

For further details, please contact the following persons.

Contact person
Designation
Contact No.
Mr. M.VASAN 
Manager (Customer Relations & Commercial) 
+91-9940075962