INVESTOR DUE-DILIGENCE CHECKLIST FOR A PRE-LEASED PROPERTY
Ground and first floor of a corner SCO, SCO 42, Sector 34-A, Chandigarh 160022
Investor: Meridian Retail Holdings LLP
Seller: Harpreet Singh Gill
Tenant: Northline Retail Private Limited
Lease: Lease Deed dated 4 April 2022
Date: 1 April 2026
This is a working checklist. It is not signed by the seller or the tenant and creates no rights. Tick a box only when the document has been seen, not when someone has said it exists. Where an item cannot be ticked, write why in the remarks.
[ ] Seller's identity and PAN seen; if the seller is a company, firm or trust, the authority of the person signing for it.
[ ] Chain of title seen, from the original allotment or purchase down to the seller, with each deed registered where the law requires it.
[ ] Search of the Sub-Registrar's records for sales, mortgages and other encumbrances on the property, for the period the advocate advises.
[ ] Co-owners, if any, identified and every one of them agreeing to sell; a co-owner who does not sign is a title risk.
[ ] The site was allotted by a development authority of the State of Punjab: obtain the allotment letter, the authority's no-objection or permission to transfer where its conditions require one, and proof that its transfer fees and dues are paid.
Remarks: ______________________________
[ ] Signed copy of Lease Deed dated 4 April 2022 read in full, with every addendum, renewal and side letter.
[ ] Lease properly stamped and, where its term or rent requires it, registered; an unregistered lease that needed registration is a weak footing for the rent and the term.
[ ] Start date, expiry date, lock-in period and what is left of each worked out from the lease, not from the seller's summary.
[ ] Current rent, escalation, CAM and other charges, and the due date agreed against what the tenant actually pays.
[ ] Security deposit: amount in the lease, amount actually held, and how it passes to the buyer.
[ ] Renewal option, early exit, assignment and sub-letting clauses read, and who can use them.
Remarks: ______________________________
[ ] Who Northline Retail Private Limited is, in law: the entity, its registration papers and the person who signed the lease for it.
[ ] Bank statements or rent receipts for at least the last twelve months showing rent actually paid on time.
[ ] Tenant's own confirmation of rent, deposit, term and absence of disputes, in a Tenant Estoppel Certificate signed by the tenant.
[ ] Premises visited: the tenant is actually in occupation, trading and using the premises for the permitted use.
[ ] Tenant's financial standing looked at, and any bank guarantee or parent company guarantee behind the rent seen in original.
Remarks: ______________________________