Terms & Conditions

Security Deposit and Damage Policy

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

Legal Nature of the Document

This Security Deposit and Damage Policy (“Policy”) constitutes an electronic record within the meaning of the Information Technology Act, 2000, and the rules framed thereunder, as amended from time to time, including the provisions relating to electronic records incorporated in various statutes pursuant to 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, or by otherwise accessing, browsing, registering on, or using the IVY NEST digital platform, website, mobile application, or availing any services offered therein, the user (“User” / “You”) expressly consents to be legally bound by the terms and conditions contained in this Policy.

If the User does not agree with any provision of this Policy, the User is advised not to access or use the IVY NEST digital platform or avail any services provided by IVY NEST Apartments.

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 these Terms and Conditions, all references to “you”, “your”, or “User”, as applicable, shall mean any natural person, legal entity, firm, association, or body corporate who accesses, browses, registers on, uses, or otherwise interacts with the IVY NEST Apartments digital platform, website, mobile application, or avails any services offered thereon, whether directly or indirectly, in any manner whatsoever.

1.2 Binding Acceptance of Platform Policies

By accessing or using the Platform, the User expressly acknowledges and agrees to be legally bound by:

• these Terms and Conditions;
• the Privacy Policy;
• the Payment Terms;
• and all other applicable policies, guidelines, 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 form an integral part of the contractual relationship between the User and IVY NEST Apartments.

Continued use of the Platform shall constitute ongoing acceptance of the applicable policies, including any lawful modifications thereto.

1.3 Account Security and Credential Responsibility

The User shall be solely and exclusively responsible for maintaining the confidentiality and security of their IVY NEST Apartments account credentials, including passwords, access codes, authentication keys, or any third-party credentials used to access the Platform (collectively, “Passwords”).

The User agrees and undertakes that:

• all activities carried out through their account shall be deemed to have been undertaken by the User;
• the User shall immediately notify IVY NEST Apartments of any actual or suspected unauthorized access, security breach, or misuse of their account;
• the User shall not access or attempt to access any other user’s account without express authorization.

The User further agrees not to impersonate, misrepresent identity, or falsely claim association with another user, entity, or representative of the Platform.

1.4 Liability for Unauthorized Use

The User expressly acknowledges and agrees that IVY NEST Apartments shall not be liable for any direct, indirect, incidental, consequential, or special loss, damage, or harm arising from unauthorized use of the User’s account, including but not limited to financial loss, data misuse, reputational harm, or service disruption.

Notwithstanding the foregoing, the User shall remain fully liable and responsible for any loss, damage, claim, or expense suffered by IVY NEST Apartments, its affiliates, licensors, partners, or service providers arising out of or attributable to such unauthorized use, misuse, or breach of account security due to the User’s act or omission.

1.5 Accuracy and Authenticity of Information Provided

The User shall be solely responsible for providing true, complete, accurate, and verifiable information, including but not limited to:

• identity documents (such as PAN card or other government-issued identification);
• payment details;
• bank account information;
• contact information; and
• any other data or documentation required for onboarding, booking, verification, or compliance purposes.

IVY NEST Apartments acts as a technology intermediary and facilitator and shall not be responsible or liable for verifying the correctness of information provided by the User beyond reasonable due diligence required under applicable law.

Any consequences arising from submission of incorrect, misleading, forged, or incomplete information shall be borne solely by the User, and IVY NEST Apartments shall not be held liable, directly or indirectly, for the same.

2. Terms and Conditions for Security Deposit

2.1 Early Vacation During Lock-in Period

If the Licensee vacates the property/apartment/premises prior to completion of the applicable lock-in period, the Security Deposit shall ordinarily stand forfeited and no refund shall be payable.

Exception:
A partial refund of the Security Deposit, limited strictly to the amount expressly specified on the Licensor’s online portal as on the date of such event, may be considered solely in the event that:

• the Licensee is formally transferred by their employer to another city or State; and
• an authentic and verifiable transfer letter issued by such employer is submitted along with the Notice of Vacation.

Grant of any such refund shall be discretionary, subject to verification, and shall not be construed as a waiver of the lock-in obligation. (its only consider if company wants).

2.2 Vacation After Completion of Lock-in Period

Where the Licensee vacates the property/apartment/premises after completion of the lock-in period, the Security Deposit shall be refunded only after adjustment of all outstanding dues, including but not limited to:

• unpaid license fees or rent;
• electricity, utility, and common area usage (CAU) charges;
• costs arising from damage, breakage, loss, misuse, or abnormal wear and tear of the property;
• cleaning, restoration, repair, repainting, or replacement costs;
• move-out charges as reflected on the Licensor’s system.

The balance amount, if any, shall be processed in accordance with this Policy.

2.3 Communication of Deductions

All deductions or claimed amounts shall be communicated in writing to the Licensee through the Licensee’s registered email address on record with the Licensor, along with a reasonable description of the nature of such deductions.

Failure by the Licensee to dispute such communication within a reasonable time shall be deemed acceptance, subject to applicable law.

2.4 Dispute Resolution on Claims

In the event of a dispute regarding deductions, damages, or claimed amounts:

• both Parties shall act in good faith and attempt resolution through written communication;
• frivolous, malicious, or demonstrably false claims made by either Party may entitle the aggrieved Party to pursue appropriate remedies under applicable Indian law, including recovery of actual losses, costs, and legal expenses, as adjudicated by a competent court.

Nothing herein shall be construed as an automatic or penal entitlement, and all claims shall be subject to judicial scrutiny and proof in accordance with law.

2.5 Refund Timeline and Inspection

The Security Deposit (after lawful deductions, if any) shall be refunded within thirty (30) working days or one (1) calendar month, whichever is earlier, from the date of completion of final inspection of the property/apartment/premises.

Such inspection shall be conducted by the Licensor’s authorized representatives to assess condition, damages, and compliance with move-out obligations.

2.6 Non-Interest Bearing Nature

The Security Deposit is non-interest bearing, and the Licensee expressly agrees that no interest, compensation, or accretion of any nature shall be payable on the Security Deposit for the duration it remains with the Licensor.

2.7 Forfeiture of Security Deposit upon Lawful Eviction

In the event the Licensee/User is lawfully evicted from the property/apartment/premises due to any of the following reasons, including but not limited to:

a) breach of this Policy or any other applicable IVY Nest Apartments policy;
b) violation of Platform rules, house rules, or occupancy conditions;
c) non-payment or persistent default in payment of rent, fees, or other lawful dues;
d) misconduct, misbehavior, nuisance, or acts disturbing other occupants;
e) misrepresentation, suppression of material facts, or submission of false documents;
f) involvement in illegal, unlawful, or prohibited activities;
g) safety, security, or compliance concerns; or
h) any act or omission prejudicial to the interest, reputation, safety, or security of IVY Nest Apartments, other occupants, or the property,

the entire Security Money shall stand forfeited forthwith.

The Licensee expressly acknowledges and agrees that:

a) forfeiture of the Security Money in such circumstances is fair, reasonable, and proportionate;
b) such forfeiture is not in the nature of a penalty, but constitutes genuine pre-estimated compensation for losses, risks, administrative burden, reputational harm, and disruption caused to the Licensor; and
c) the Security Money is agreed to be a lawful financial safeguard forming an essential condition of the license arrangement.

Such forfeiture shall be without prejudice to and shall not limit:

a) the right of IVY Nest Apartments to recover outstanding rent, license fees, utility charges, damages, penalties, or costs;
b) the right to initiate civil, criminal, or regulatory proceedings, wherever applicable; and
c) any additional remedies available under applicable laws, rules, or contractual terms.

Such forfeiture shall be without prejudice to and shall not limit:

a) the right of IVY Nest Apartments to recover outstanding rent, license fees, utility charges, damages, penalties, or costs;
b) the right to initiate civil, criminal, or regulatory proceedings, wherever applicable; and
c) any additional remedies available under applicable laws, rules, or contractual terms.

For the purposes of this clause:

a) “Eviction” shall mean termination of stay and removal from the property/apartment/premises carried out strictly in accordance with applicable law, due process, and contractual provisions, and shall not include unlawful, forceful, or extra-legal dispossession;

b) forfeiture of Security Money under this clause shall be deemed reasonable compensation for breach within the meaning of Section 74 of the Indian Contract Act, 1872, agreed between the parties at the time of contract formation.

3. Terms and Conditions Where No Security Deposit Is Collected

3.1 Mandatory Auto-Debit Subscription

Where the Licensee opts for or is offered accommodation without payment of a Security Deposit, the Licensee shall mandatorily enroll in auto-debit payment mode through E-NACH / ECS / other RBI-approved electronic mandate systems, as specified by the Licensor.

Failure to activate or maintain such mandate shall constitute a material breach of the License Agreement.

3.2 Minimum Subscription Commitment

The auto-debit subscription shall be valid for a minimum continuous period of six (6) months, irrespective of the actual duration of stay, unless otherwise expressly agreed in writing by the Licensor.

Early termination during the minimum subscription period shall not relieve the Licensee of payment obligations accrued or contractually committed.

3.3 Unauthorized Vacation Without Intimation

In the event the Licensee vacates the property/apartment/premises without serving any prior written Notice of Vacation, the auto-debit subscription shall continue to remain active, and applicable charges shall continue to accrue until formal notice is received and processed in accordance with this Policy.

3.4 Mandatory Notice Period for Discontinuation

The auto-debit subscription shall be discontinued only upon completion of the mandatory one (1) month prior written Notice of Vacation, duly submitted through the Licensor’s designated digital platform or communication channel.

The subscription shall remain operative throughout the notice period, and all charges for such period shall be payable without dispute.

3.5 Timeline for Subscription Deactivation Post-Vacation

Following physical vacation of the property/apartment/premises and completion of the notice period, the Licensor shall initiate discontinuation of the auto-debit subscription within seven (7) working days, subject to:

• clearance of all outstanding dues; and
• confirmation of handover and exit formalities.

3.6 Failed Auto-Debit Due to System or Banking Issues

Where an auto-debit transaction fails due to reasons not attributable to the Licensee, including but not limited to:

• banking network failure;
• system error of the Licensor or payment gateway; or
• technical failure of the mandate infrastructure,

no penal charges or late fees shall be imposed on the Licensee for such isolated failure, provided the Licensee cooperates in resolving the issue.

3.7 Failed Auto-Debit Attributable to the Licensee

Where an auto-debit transaction fails due to reasons attributable to the Licensee, including but not limited to:

• insufficient account balance;
• revoked or cancelled mandate without authorization;
• account closure or incorrect account details; or
• intentional obstruction of payment,

the Licensor shall be entitled to:

a) recover the outstanding amount through alternate payment modes;
b) levy a reasonable administrative charge, as disclosed on the Licensor’s online portal as on the date of default;
c) suspend platform services or access; and
d) initiate termination or eviction proceedings in accordance with applicable law and Licensor policies.

Such charges shall be compensatory and not penal, and limited to actual costs incurred.

4. Confidentiality

4.1 Duty of Confidentiality

Each Party hereby irrevocably agrees and undertakes to maintain strict and perpetual confidentiality with respect to all Confidential Information disclosed by the Disclosing Party to the Receiving Party, or which otherwise comes into the knowledge, custody, or possession of the Receiving Party or its personnel, agents, contractors, or representatives, whether directly or indirectly, pursuant to or in connection with this Policy.

The Receiving Party shall implement and maintain reasonable, industry-standard administrative, technical, and organizational safeguards to protect such Confidential Information against unauthorized access, disclosure, alteration, misuse, or loss, which safeguards shall be no less stringent than those applied to its own confidential information of a similar nature.

4.2 Restriction on Use

The Receiving Party shall use the Confidential Information solely for the purposes of performance, compliance, and enforcement of this Policy, and for no other purpose whatsoever.

Without prejudice to the foregoing, the Receiving Party shall not:

a) exploit Confidential Information for its own commercial or personal benefit;
b) disclose Confidential Information to any third party except where disclosure is required by law or permitted expressly under this Policy; or
c) permit unauthorized access to Confidential Information by any person.

4.3 Survival

The obligations under this Clause shall survive termination, expiry, cancellation, or cessation of the relationship between the Parties, irrespective of the cause of termination.

5. Content & Data Protection

5.1 Ownership and Limited Use of Content

“Content” shall include all data, information, documents, software, text, images, records, identifiers, and materials provided, uploaded, generated, or made accessible by the User or its authorized users through the Platform.

Nothing in this Policy shall be construed as transferring ownership of such Content to the Company. The Company and its affiliates shall access, process, store, and use such Content strictly on a need-to-know basis and solely for the lawful purposes of providing, managing, improving, securing, and enforcing the Platform Services, in accordance with:

• the Digital Personal Data Protection Act, 2025,
• applicable IT and consumer laws, and
• the Company’s Privacy Policy.

5.2 Confidential Handling and Restricted Disclosure

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

a) to its employees, service providers, or contractors strictly on a need-to-know basis;
b) where such disclosure is legally required by a court, regulatory authority, or law-enforcement agency; or
c) where disclosure is necessary to protect the rights, property, safety, or security of the Platform, Users, or third parties.

5.3 Prohibition on Unauthorized Data Use by Users

The User hereby expressly undertakes that it shall not, under any circumstances:

a) copy, extract, scrape, sell, lease, license, distribute, publish, or commercially exploit any data, Content, or personal information belonging to the Company, other users, or third parties;
b) share or transfer such data to any third party without lawful authority and express written consent; or
c) misuse such data in any manner contrary to law, public policy, or Platform rules.

5.4 Restrictions on Data Handling

Both Parties acknowledge that they may have access to certain Data, including personal data, sensitive personal data, or confidential business information.

Accordingly, both Parties irrevocably undertake that neither they nor their employees, agents, contractors, or affiliates shall, without lawful authority:

a) store, copy, replicate, imitate, reverse-engineer, analyze, record, photograph, video-record, manipulate, or otherwise misuse such Data;
b) retain such Data beyond the lawful retention period; or
c) process such Data in violation of the DPDP Act, 2025, applicable IT Rules, or Platform policies.

5.5 Breach and Liability

Any unauthorized access, disclosure, misuse, or breach of Confidential Information or Data shall constitute a material breach of this Policy and shall entitle the non-breaching Party to:

a) immediate suspension or termination of access;
b) claim damages, indemnity, and injunctive relief; and
c) initiate civil, criminal, or regulatory proceedings, as may be applicable.

5.6 No Waiver of Statutory Rights

Nothing in this Policy shall be construed to limit or waive any statutory rights, obligations, or remedies available under the Digital Personal Data Protection Act, 2025, Information Technology Act, 2000, or any other applicable law.

6. General Clauses

6.1 Right to Modification

IVY Nest Apartments reserves the absolute and unilateral right, at its sole discretion, to modify, amend, update, suspend, or replace any part of this Policy, including but not limited to payment terms, fees, procedures, operational rules, or content published on the Platform, at any time.

Such modifications shall become effective immediately upon publication on the Platform. Continued access to or use of the Platform by the User after such publication shall constitute deemed acceptance of the revised terms.

6.2 Entire Policy and Supremacy

This Policy, together with the Terms of Use, Payment Terms, Privacy Policy, and all other policies, notices, disclosures, or additional terms published by IVY Nest Apartments on the Platform from time to time, constitutes the entire agreement between the User and IVY Nest Apartments in relation to the Platform and the Services.

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

6.3 Waiver

No failure, delay, or omission by IVY Nest Apartments in exercising any right, power, or remedy under this Policy shall operate as a waiver thereof, nor shall any single or partial exercise of any right preclude the exercise of any other right or remedy.

Any waiver shall be valid only if expressly made in writing and shall not constitute a continuing waiver unless expressly stated.

6.4 Headings

The clause headings used in this Policy are for convenience and reference only and shall not affect the interpretation, construction, or legal effect of any provision herein.

6.5 Absence of Presumption

This Policy shall be construed without any presumption for or against either Party, irrespective of which Party drafted or caused this Policy to be drafted, in accordance with settled principles of Indian contract law.

6.6 Language

This Policy and all notices, communications, consents, approvals, and authorizations issued pursuant hereto shall be exclusively in the English language, and the English version shall prevail in case of any inconsistency or dispute.

6.7 Binding Effect and Assignment

This Policy shall be binding upon and shall inure to the benefit of the Parties hereto and their respective successors, permitted assigns, legal representatives, and administrators.

IVY Nest Apartments shall have the right to assign or transfer its rights and obligations under this Policy without prior notice. Users shall not assign their rights without prior written consent of IVY Nest Apartments.

6.8 Liquidated Damages

Where this Policy provides for liquidated damages, the Parties expressly agree that:

a) such damages represent a genuine pre-estimate of loss,
b) actual damages may be difficult or impracticable to quantify, and
c) the stipulated amount is reasonable and proportionate, and not in the nature of a penalty, in accordance with Section 74 of the Indian Contract Act, 1872.

Nothing herein shall restrict the right of IVY Nest Apartments to claim higher actual damages where permitted by law.

6.9 Currency

All monetary references under this Policy shall be deemed to be expressed in Indian Rupees (INR) unless expressly stated otherwise.

6.10 Electronic Record and Counterparts

This Policy is an electronic record generated under the Information Technology Act, 2000 and does not require physical or digital signatures.

Acceptance of this Policy through electronic means, including click-wrap or browse-wrap mechanisms, shall constitute valid execution. Where applicable, this Policy may be executed in counterparts, each of which shall be deemed an original, and all of which together shall constitute one binding Policy.

7. Contact and Grievance Communication

7.1 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
accounts@ivynestapartments.com

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