Section 26 in The Rail Land Development Authority (Development of Land and Other Works) Regulations, 2012
26. Sub-lease by the Lessee.
(1)Except that under sub-regulation (3) of regulation 17, a lessee shall have the right to sub-lease either in part or in full the built-up area developed on the railway land to one or more parties in a manner and in forms of agreement as may be determined by the Authority and subject to -(a)the issue of completion certificate of a building by the nominated officer of the Authority;(b)the terms and conditions specified in the lease agreement executed between the Authority and the lessee;(c)sub-lease agreement being executed on a standard form specified by the Authority from time to time;(d)the lessee maintaining a sub-lease register containing the details of all sub-lessees at any time in such forms and manner as may be determined by the Authority; and(e)the sub-lease register being updated by the lessee periodically and a copy being submitted to the Authority in a manner as may be determined by the Authority.(2)In case the development is proposed to be carried out jointly with Central or State public sector entities, the lessee shall have the right, in addition to the rights specified under sub-regulation (1), to sub-lease -(a)the railway land in parts to several third parties or full to a single third party; or(b)the built-up area developed on the railway land in full to a single third party.(3)The third parties as referred in sub-regulation (2) may further sub-lease the built up space as provided under sub-regulations (1) subject to the terms and conditions specified in the agreement between the lessee and third party.
