The defendant/lessee is a renowned senior Cardiologist in Vijayawada and initially established a hospital in 1988, but later on developed the same. The vacant land with dilapidatedstructureswas taken on lease and it was bounded on three sides by the property of the lessor. For beneficial appreciation of the property,thelessorletit to the lessees as others could not do it. Further, the lessee/ cardiologist is a student of the college of the lessor during 1972-74. Though he intended to purchase another property, he agreed for the lease as the lessor approached to let out. The lesseeshave to build RCC building with basement, ground and four floors. Since it involves investment of huge amount of crores of rupees, the lessor offered perpetual lease, initially for 25 years with optiontothelesseetoseek further extension for 25 years for periodical increase in rent as per market value and depending on the development, for another period of 50 years. At the relevant times, since it was learnt that lease for longer period of ten (10) years was not entertained by the department of registration, consequent to the aforesaid agreement, the registered lease deed for nine (09) years eleven (11) months with option for renewal of the lease given to the defendant was executed on 24.01.1994 for lease to commence on 01.02.1994. On the advice of the well wishers of the lessees, as the lease could not be registered for period of 50 years, they asked the plaintiff for awrittencommitment. Accordingly, the lessee addressed a letter dt.01.05.1994, separately to
