fixed period lease agreement expired by efflux of time any right left

Once a fixed period lease agreement expires by efflux of time, does the lessee have any rights. This is a registered lease, however the closure deed has not been submitted to the sub registrar office hence it is showing on the encumberance certificate. Does the lease have any value ? Does the Lessee have any rights once the fixed period agreement expires and no fresh agreement is registered ? Location of property , Varthur Hobli, Bangalore East taluk , Karnataka