Is there any penalty for late rent payment?

If the rent is paid late, a penalty of ₹100/- per day will be charged for each day the rent remains unpaid after the 5th day of the rent cycle of every month. 

This penalty will be added to the outstanding rent and must be settled with the immediate rental payment.

An example format is as per below:

Rent Payment Date	Penalty Amount (₹)
On or before the 5th day of the month	0
6th day of the month	100
7th day of the month	200
8th day of the month	300
9th day of the month	400
10th day of the month	500

If the rent remains unpaid for a consecutive period of 25 days from the due date, it shall be considered a violation of the rental agreement.

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