Leasing Out My Land For M-sand Washing

I have a party who is interested to take lease of my 60 cents (out of 120 cents) of my vacant land for setting up an M-sand washing unit.The offered leasing price is rupees 10 thousand per month & security deposit of rupee 1 lakh; leasing period is 3 years. I would appreciate your expert advices on what factors i need to consider, what are the legal aspects and what all i need to mention in the leasing contract and if i should quoting for a better leasing price. Thanks a lot in advance.