- Bare Shell
- An unfinished commercial space with only structural elements, core plumbing, and electrical risers in place — no flooring, ceiling, partitions, or fit-out. The occupier designs and builds everything from scratch.
- Warm Shell
- A partially finished space with essential infrastructure already installed (basic flooring, ceiling grid, electrical distribution, HVAC ductwork) but no interior fit-out, furniture, or branding — a middle ground between bare shell and fully furnished.
- Fully Furnished / Plug-and-Play
- A move-in-ready office with workstations, furniture, IT cabling, and interiors already complete. Fastest to occupy, typically at a rental premium over bare or warm shell.
- Managed Office
- A flexible workspace model where an operator handles fit-out, furniture, IT infrastructure, and facilities management on the occupier's behalf, usually billed per seat rather than per square foot.
- NNN Lease (Triple Net Lease)
- A lease structure where the quoted rent excludes maintenance, property tax, insurance, parking, and electricity — these are billed separately to the tenant. The dominant lease convention for commercial office space in India.
- Lock-in Period
- A minimum, non-cancellable duration in a lease during which neither landlord nor tenant can terminate the agreement without penalty, regardless of the total lease term.
- Rent Escalation Clause
- A pre-agreed clause specifying periodic rent increases over the lease term (commonly every 3 years in Indian commercial leases), stated as a fixed percentage rather than tied to a market index.
- Security Deposit
- An upfront, interest-free refundable amount paid by the tenant to the landlord as security against default, typically expressed as a multiple of monthly rent and refunded at lease-end.
- Fit-Out Period
- A negotiated rent-free (or reduced-rent) period at the start of a lease during which the tenant builds out the space before the commercial rent obligation begins.
- CAM (Common Area Maintenance)
- Charges billed to tenants, typically per sq ft, covering the upkeep of shared building areas — lobbies, corridors, common washrooms, security, and building-wide facilities management.
- Lease Deed vs. Leave and License Agreement
- A Lease Deed transfers a possessory interest in the property for a fixed term and is compulsorily registrable beyond a certain duration. A Leave and License Agreement grants only a permissive right to use the space without transferring possession, and is the more common structure for shorter-term commercial occupancy in India.
- Sub-lease
- An arrangement where an existing tenant leases part or all of their leased premises to a third party, subject to the original landlord's consent under the head lease.