A Perpetual Lease of a land/flat/shop refers to a lease agreement where the leasehold rights are granted for an indefinite period of time, typically for a very long duration such as 999 years. Under this type of lease, the tenant (lessee) is granted the right to use and occupy the property for an indefinite period of time, subject to the terms and conditions outlined in the lease agreement.

The lease agreement will typically include details such as the description of the property, the lease term, the rent and any other charges, the rights and responsibilities of the lessee and lessor, and the conditions under which the lease can be terminated.

Perpetual lease is a common practice in some countries, especially in the case of land, where the tenant is granted the right to use and occupy the land for an indefinite period of time and it could be transferred or sold to another party.

The perpetual lease is a legally binding agreement, and it is important for both parties to fully understand the terms and conditions outlined in the lease agreement before signing it.

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