Terms & Conditions

LEASE AGREEMENT AND RENEWAL POLICY

Place: Kolkata, West Bengal, India
Last Updated: Saturday, 20 December 2025

Legal Nature of the Document

This Lease Agreement and Renewal Policy (“Policy”) is an electronic record within the meaning of the Information Technology Act, 2000, and the rules framed thereunder, including amendments relating to electronic records and electronic contracts under various statutes as amended by the Information Technology Act, 2000.

This Policy is generated by a computer system and does not require any physical or digital signature.

By clicking on the “I ACCEPT” or “ACCEPT & CONTINUE” button, accessing, registering on, or using the IVY NEST digital platform, website, mobile application, or availing any services thereunder, you/user expressly consent to be legally bound by the terms and conditions of this Policy.

If you do not agree to any provision contained herein, you must immediately discontinue use of the IVY NEST digital platform and services.

The digital platform is owned by Ivy Nest Apartments, operating under the brand name “IVY NEST” (“Company”, “IVY NEST”, “Platform”, “we”, “us”, or “our”).
IVY NEST Apartments operates, controls, and manages the Platform and the services offered thereon, as defined under applicable policies, terms, and agreements.

IVY Nest Apartments is engaged in the business of providing residential accommodation and rental solutions through a technology-enabled digital platform / online portal to intending occupiers and/or licensees.

The services cater to a diverse customer base, including but not limited to:

• Digital nomads
• Remote workers
• Students
• Working professionals
• Community-oriented residents
• Short-term and long-term occupiers

The platform facilitates access to multiple categories of living and working spaces, including:

• Paying Guest (PG) accommodations
• Rental flats and apartments
• Room-sharing residences
• Hostels
• Co-living spaces
• Co-working spaces
• Workation stays
• Vacation homes and short-term stays

In addition to accommodation facilitation, the platform also functions as an Online Travel Agency (OTA) by aggregating and listing verified accommodation and rental options, enabling users to discover, compare, book, and manage stays digitally.

The business operates entirely through electronic and digital means, ensuring convenience, transparency, and scalability for both short-term and long-term stays.

For the purposes of this Policy, unless the context otherwise requires:

“Platform” means the IVY Nest Apartments website, mobile applications, and all related digital interfaces, collectively.

“User” means any individual, firm, entity, occupier, guest, licensee, or customer registered as an end user/client on the IVY Nest platform.

“Password” means any secret word, phrase, code, passphrase, encryption or decryption key, socket, or authentication credential used to access the Platform or its services.

“Affiliate(s)” means any person, company, corporation, association, or entity that directly or indirectly controls, is controlled by, or is under common control with a Party.

“Control” includes the power to direct management or policies, whether through ownership, contract, or otherwise.

“Applicable Laws” or “Laws” include all statutes, enactments, rules, regulations, notifications, guidelines, policies, directions, and orders issued by any competent governmental, statutory, judicial, or regulatory authority, including municipal and local authorities.

“Authorized User” means employees, agents, or permitted individuals of a Customer or Affiliate expressly authorized to access and use the Platform.

“Confidential Information” means all non-public, proprietary, or sensitive information of the Company or its users, including business plans, financial data, software, trade secrets, customer data, marketing strategies, and technical information disclosed in any form.

“Data” includes Personal Data, usage data, images, records, IP addresses, transaction details, user information, supplier information, and all data generated through the execution of this Policy or use of the Platform.

“Effective Date” means the date on which the User accepts this Policy electronically.

“Force Majeure” means any event beyond reasonable control, including acts of God, natural disasters, epidemics, governmental actions, riots, wars, strikes, regulatory changes, or any circumstance rendering performance impracticable.

“Intellectual Property” includes all copyrights, patents, trade secrets, software, designs, business formats, and other proprietary rights developed, used, or licensed in connection with the Platform or services.

“Term” means the duration for which this Policy remains applicable, as defined under the relevant clauses.

Interpretation

• Words importing the singular include the plural and vice versa.
• Words denoting any gender include all genders.
• References to statutes include their amendments, re-enactments, and extensions.
• Headings are for convenience only and shall not affect interpretation.
• Schedules, annexures, and appendices form an integral part of this Policy.
• Defined terms include all grammatical variations of such terms.

This Policy is drafted and implemented in compliance with:

• Information Technology Act, 2000 (as amended)
• Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021
• Digital Personal Data Protection Act, 2025 (earlier DPDP Act, 2023)
• Consumer Protection Act, 2019
• Consumer Protection (E-Commerce) Rules, 2020 (as amended)
• Indian Contract Act, 1872
• Applicable State Rent Control Acts, Model Tenancy Act, and New Rent Rules, 2025, where applicable
• Relevant municipal, zoning, and local real-estate regulations

This Policy shall be read in harmony with other IVY NEST policies, including but not limited to the Terms & Conditions, User Agreement, Move-in/Move-out Policy, Booking & Refund Policy, and Privacy Policy.

This Security Deposit and Damage Policy is intended to establish a transparent, fair, and legally enforceable framework governing the collection, adjustment, forfeiture, and refund of security deposits, as well as responsibility for damages, while safeguarding the rights of both the Platform and its users in accordance with Indian law.

1. General Terms and Conditions

1.1 User Definition

For the purposes of this Policy, all references to “you”, “your”, or “User”, as applicable, shall mean any individual, firm, entity, or legal person who accesses, browses, registers on, uses, or otherwise participates in the Platform or avails any services offered through the Platform, whether directly or indirectly, in any manner whatsoever.

1.2 Binding Nature of Policies

By accessing, registering on, or using the Platform in any manner, the User expressly agrees to be legally bound by the Terms of Use, Privacy Policy, Payment Terms, and all other applicable policies, guidelines, notices, and disclosures, as published from time to time on the official website of Ivy Nest Apartments at www.ivynestapartments.com, which are incorporated herein by reference and shall form an integral part of the contractual relationship between the User and Ivy Nest Apartments.

1.3 Account Security and Authentication Obligations

The User shall be solely responsible for maintaining the confidentiality and security of their Ivy Nest Apartments account credentials, including passwords, one-time passwords (OTPs), authentication keys, and, where applicable, any third-party site credentials (collectively, “Passwords”).

The User shall be solely responsible for all activities, transactions, communications, and actions carried out through their account. The User undertakes to immediately notify Ivy Nest Apartments of any actual or suspected unauthorized access, security breach, or misuse of their account.

The User further agrees that they shall not access, attempt to access, or use the account of any other user, nor impersonate, misrepresent, or falsely present themselves as another person, entity, or user of the Platform or services.

1.4 Liability for Unauthorized Use

The User expressly acknowledges and agrees that Ivy Nest Apartments shall not be liable, directly or indirectly, for any loss, damage, expense, liability, or consequence (whether direct, indirect, incidental, consequential, special, or otherwise) arising from any unauthorized access to or use of the User’s account.

Notwithstanding the foregoing, the User shall be fully liable and indemnify Ivy Nest Apartments, its affiliates, partners, licensors, service providers, and associated entities against all losses, damages, claims, penalties, costs, or expenses arising due to unauthorized use of the User’s account attributable to the User’s act, omission, negligence, or breach of this Policy.

1.5 Accuracy and Authenticity of Information

The User shall be solely responsible for the accuracy, authenticity, completeness, and legality of all information, documents, and data uploaded, submitted, or shared on the Platform, including but not limited to PAN card details, identity proofs, bank account information, payment details, and other statutory or verification documents.

Ivy Nest Apartments acts solely as a technology intermediary and facilitator and shall not be responsible or liable, directly or indirectly, for any incorrect, false, misleading, forged, incomplete, or outdated information provided by the User. Any consequences arising from such incorrect or misrepresented information shall be borne exclusively by the User.

2. Renewal of Licensee Agreement

2.1 Renewal by Mutual Consent

Upon expiry of the initial term of the leave and license arrangement granted hereunder, the same may be renewed solely at the mutual discretion of the Parties, subject to mutually agreed terms and conditions. Any such renewal shall require execution of a fresh written agreement, whether in physical or electronic form, in accordance with applicable law.

2.2 Execution and Counterparts

This Agreement shall be executed in duplicate counterparts (or electronic equivalents), whereupon the original counterpart shall be retained by the Licensor and the duplicate counterpart by the Licensee. Electronic execution and storage shall be valid and binding in terms of the Information Technology Act, 2000.

2.3 Termination upon Expiry and Fresh Agreement

Upon completion of the agreed term (as specified in days/months/years), this Agreement shall stand automatically terminated by efflux of time, without the requirement of any further notice. Any continuation of occupancy thereafter shall be subject to execution of a new agreement on mutually agreed terms.

For clarity, the expired agreement may be expressly referred to in the new agreement for the limited purposes of continuity of records relating to Security Deposit, property condition, utilities, and allied matters, unless otherwise agreed in writing.

2.4 Multiple Unrelated Licensees – Effect of Exit

Where this Agreement is entered into by multiple, mutually unrelated Licensees (including but not limited to office colleagues, students, or non-family co-occupants), and one or more such Licensees exits or vacates the premises, the following shall apply:

(a) This Agreement shall stand terminated, unless otherwise agreed in writing by the Licensor;
(b) The remaining occupants shall be required to execute a fresh agreement on mutually agreed terms prior to continued occupation;
(c) If such termination occurs prior to completion of the lock-in period and the parties do not renew or re-execute the agreement, the Security Deposit shall stand forfeited, in accordance with the terms agreed herein.

2.5 Duty to Notify Exit of Co-Licensee

It shall be the sole and absolute responsibility of the Licensee(s) to promptly and formally inform the Licensor of the exit of any one or more mutually unrelated Licensees.

In the event of failure to notify, all liabilities, obligations, dues, and consequences arising from the exit of such Licensee(s) shall be jointly and severally borne by the remaining Licensee(s) under this Agreement.

2.6 Renewal Costs

All costs, charges, fees, stamp duties (if any), platform charges, and administrative expenses associated with renewal or execution of a fresh agreement shall be borne by the Licensee, unless otherwise expressly stipulated on the Platform or agreed in writing by the Licensor.

3. Confidentiality

3.1 Confidentiality Obligations

Each Party agrees and undertakes to maintain strict and continuing confidentiality of all Confidential Information disclosed by the other Party (“Disclosing Party”) to the receiving Party (“Receiving Party”), or which otherwise comes into the knowledge or possession of the Receiving Party or its personnel in connection with this Agreement or the use of the Platform.

The Receiving Party shall implement and maintain reasonable and appropriate safeguards to protect such Confidential Information against unauthorized access, disclosure, misuse, or loss, consistent with applicable law and industry standards.

3.2 Permitted Use and Restrictions

The Confidential Information shall be used solely for the purposes of performance of this Agreement and related services and for no other purpose whatsoever.

The Receiving Party expressly agrees that it shall not use, exploit, disclose, reproduce, or derive benefit from the Confidential Information for its own advantage or for the benefit of any third party, except as expressly permitted under this Agreement or required by law.

4. Content & Data Protection

4.1 Ownership and Permitted Use of Content

“Content” shall mean all data, information, materials, software, documents, records, images, communications, and other information that the User/Consumer or its authorized users submit, upload, transmit, or otherwise make available on or through the Platform.

Use of the Platform or Services shall not affect the ownership or license rights of the User in such Content. The Company and its affiliates are authorized to access, store, process, and use the Content strictly for the limited purposes of operating, managing, maintaining, securing, and providing the Services, including compliance with applicable laws.

The Company shall treat all Content as confidential and shall not disclose the same except:

• to its employees, agents, contractors, or service providers strictly on a need-to-know basis; and
• only to the extent necessary to provide the Services or comply with legal or regulatory obligations.

4.2 Prohibition on Data Sharing or Sale

The User expressly undertakes that it shall not, under any circumstances, directly or indirectly share, sell, disclose, license, publish, or otherwise transfer any data, Content, or information belonging to the Company, the Platform, or other users, which the User may receive or access pursuant to this Policy, to any third party, except where expressly permitted by law or with prior written consent of the Company.

4.3 Restriction on Misuse of Data

The Parties acknowledge that, in the course of this Policy, they may have access to certain Data (as defined herein). Each Party undertakes that it shall ensure that neither it nor its employees, agents, contractors, or associated persons shall:

• store, copy, duplicate, imitate, extract, analyze, record, photograph, videograph, manipulate, or reverse-engineer such Data; or
• use any technique, tool, or method intended to compromise, misuse, or commercially exploit such Data,

except to the extent strictly required for lawful performance under this Policy and in compliance with applicable data protection laws.

5. General Clauses

5.1 Right to Modify Policy

Ivy Nest Apartments reserves the absolute right to modify, amend, update, alter, or change the terms and conditions of this Policy, including payment terms, platform rules, or related content, at any time. Continued use of the Platform after such modification shall constitute deemed acceptance of the revised terms.

5.2 Entire Agreement

This Policy, read together with the Terms of Use, Payment Terms, Privacy Policy, and any other policies or legal notices published on the Platform, constitutes the entire agreement between the User and Ivy Nest Apartments in relation to the subject matter herein.

5.3 Severability

If any provision of this Policy is held to be invalid, unlawful, or unenforceable by a court of competent jurisdiction or due to change in applicable law, such invalidity shall not affect the remaining provisions, which shall continue in full force and effect.

5.4 No Waiver

Failure by Ivy Nest Apartments to enforce any right or provision under this Policy shall not constitute a waiver of such right or provision, nor shall it be deemed a continuing waiver.

5.5 Section Headings

Headings used in this Policy are for convenience only and shall not affect interpretation or construction of the clauses.

5.6 Absence of Presumption

No presumption shall arise in favor of or against any Party by reason of authorship or drafting of this Policy.

5.7 Language

This Policy and all communications, notices, consents, and authorizations relating thereto shall be in the English language only.

5.8 Further Assurances

Each Party agrees to execute and deliver such further documents, assurances, or acts as may be reasonably required to give full legal effect to this Policy.

5.9 Binding Effect

This Policy shall be binding upon and inure to the benefit of the Parties and their respective successors and permitted assigns.

5.10 Liquidated Damages

Where actual damages are difficult to quantify, the non-breaching Party may claim reasonable liquidated damages, provided that such damages are proportionate and shall not exceed the value of the contract, in accordance with Section 74 of the Indian Contract Act, 1872.

5.11 Force Majeure

Neither Party shall be liable for failure or delay in performance caused by a Force Majeure event. The affected Party shall promptly notify the other Party and use reasonable efforts to mitigate the impact.

5.12 Waiver

Any waiver of rights must be express and in writing. A single waiver shall not operate as a continuing waiver.

5.13 Currency

All monetary references under this Policy shall be in Indian Rupees (INR).

5.14 Counterparts

This Policy may be executed in counterparts, including electronic counterparts, each of which shall be deemed an original and together constitute one binding instrument.

6. Contact and Grievance Communication

6.1 Grievance and Account-Related Queries

For any account-related queries, refund clarifications, or grievances arising out of this Policy, the Licensee/User may contact the Licensor at the following official address:

IVY Nest Apartments

grievance@ivynestapartments.com

All communications must be sent from the registered email address or mobile number of the Licensee for verification and security purposes.