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Assignment of a Commercial Lease

At a glance

Price: ₹1,499 · GST included
Stamp duty: Duty is on the ASSIGNMENT itself, not on the rent the Lease reserves, and it is charged as a conveyance, not as a lease.
Registration: Compulsory, independently of whatever term the Lease itself had left to run when it was first registered.
Witnesses: Two witnesses, and they must attend the registration, exactly as for the Lease itself.

₹1,499

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Also called

Lease Assignment Deed
Deed of Assignment of Lease
Assignment of Leasehold Rights
Assignment of Tenancy Rights
Transfer of a Commercial Lease to a New Tenant
Novation of Commercial Lease
Sale of Leasehold Rights
Pattanama Tabadla

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You can fill this one in on this site, and read the whole draft on screen before you decide anything about it. It is a carefully drafted template; it is not advice about your own facts.

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Why you need it

When you need it

An existing commercial tenant in Punjab or Chandigarh — of an office, shop, showroom, godown or industrial shed — wants to transfer the whole of its remaining tenancy to another business, which then steps into its shoes for the rest of the term. Common on a business sale, a group restructuring, or a tenant that no longer needs the space finding a buyer for the lease itself. An ASSIGNMENT is not a SUB-LEASE. A sub-lease creates a further, subordinate tenancy while the existing tenant stays the tenant of the original lease throughout — use the Sub-Lease / Sub-Licence Agreement (Commercial Premises) template for that. This Deed instead transfers the Assignor's ENTIRE interest as tenant to the Assignee, who becomes the tenant for all purposes; the Assignor drops out of the tenancy from the Effective Date, subject only to whatever continuing liability the Assignor's Continuing Liability clause fixes. Needs the Landlord's consent on record, not assumed: most commercial leases prohibit assignment without the landlord's prior written consent, and assigning in breach of that condition is itself a default that can cost the Assignor the lease before the Assignee ever takes the benefit of it. This Deed accordingly makes the Landlord a party — it does not merely recite that consent was obtained elsewhere. Two questions this Deed forces a real answer to, because most assignments get them wrong by not asking: whether the Assignor is released once it has assigned away, or stays on the hook for what the Assignee later does — Indian law's default is that the Assignor stays liable by privity of contract unless the Landlord expressly releases it, which surprises most Assignors who assume leaving the premises means leaving the lease. And what happens to the existing security deposit — whether it passes to the Assignee's credit, or is refunded and a fresh one taken. For an assignment of a lease that was itself compulsorily registrable, this Deed is itself compulsorily registrable, independently of the lease's own term, under s.17(1)(b) of the Registration Act, 1908. It is stamped as a CONVEYANCE, not as a lease: an assignment transfers an existing interest rather than granting a new one, so the rent-based lease duty bands do not apply and the ad valorem conveyance rate does instead — see the Stamp Duty and Registration clause. Not for: a fresh letting directly from the owner (use the Commercial Lease Deed); a sub-lease that leaves the existing tenant still liable on the head lease (use the Sub-Lease / Sub-Licence Agreement); a mere change of name or corporate form of the same tenant with no new occupant; or a surrender of the lease back to the landlord with no incoming tenant (use the Lease Termination and Surrender template).

See stamp duty, registration and witnesses

What follows is written for Punjab and Chandigarh. It states the position there rather than describing how it varies, so the amounts below are the ones that apply — worth confirming at the sub-registrar’s office, because rates change. If the property is anywhere else in India, none of this is yours.

Stamp duty

Duty is on the ASSIGNMENT itself, not on the rent the Lease reserves, and it is charged as a conveyance, not as a lease. All figures checked as described in the file header. WHY A CONVEYANCE, NOT A LEASE: "Lease" in s.2(16) of the Indian Stamp Act, 1899 covers the GRANT of a lease and does not extend to the ASSIGNMENT of one already granted. An assignment of a leasehold interest for consideration is therefore, on the general law, a "Conveyance" as defined in s.2(10) — an instrument transferring property inter vivos not otherwise specifically provided for — and is charged ad valorem on the value transferred, not on a term-banded rent percentage. PUNJAB: this drafting could not locate an entry in Schedule I-A to the Indian Stamp Act, 1899 as applied to Punjab that charges a transfer of leasehold rights at a rate lower than an ordinary conveyance, the way Chandigarh's own schedule does (below). Absent such an entry, this Deed is charged under entry 23 of Schedule I-A: 5% duty, plus the Social Infrastructure Cess at 1% under section 3-D of the Act as applied to Punjab, plus the Punjab Infrastructure Development Board fee at 1% and the Special Infrastructure Development Fee at 0.25%, both under the Punjab Infrastructure (Development and Regulation) Act, 2002 — 7.25% in total, the same rate and components this platform's Sale Deed template states for a sale of freehold property. Registration fee is 1% of the same value, capped at Rs 2,00,000; facilitation charges are Rs 1,000 up to Rs 10 lakh, Rs 3,000 from Rs 10 lakh to Rs 30 lakh, Rs 5,000 above that; pasting fee Rs 200. Confirm at the Sub-Registrar's counter, before the stamp is bought, that no lower entry in fact applies — this is the point in this Deed's stamping position this drafting is least confident of, and it is the first substantive item this template's drafter flags for a lawyer to check. CHANDIGARH: the Administration's published Rates of Stamp Duty & Registration Fees schedule at revenue.chd.gov.in — the same schedule this platform's Sale Deed template uses, its footer recording a last update of 3 May 2022 — separately charges "transfer of lease rights by way of sale" at 3%, distinctly lower than the 5% it charges on a freehold sale. That is exactly what this Deed is, so 3% is the rate. Registration fee is 1% of the same value capped at Rs 10,000, plus a pasting fee of Rs 20. BOTH: the value on which duty is computed is the higher of the Assignment Consideration this Deed states and the market or Collector-rate value of the unexpired leasehold interest actually transferred — not simply the Collector rate for the freehold land, which overstates what a residual leasehold term is worth. This template does not compute that valuation; the person completing it has to arrive at it, in the same way this platform's Sale Deed template leaves the higher-of comparison to the person completing that deed. No family or gender concession is stated for either jurisdiction: the Sale Deed template records a Punjab concession for a female buyer and a Punjab exemption for a transfer between blood relations, and both apply to entry 23 conveyances of the ordinary kind; whether either extends to this narrower conveyance of a leasehold assignment was not established for this drafting, so neither is relied on here. Under-stamping: the deficiency plus a penalty of up to ten times it fall on whoever this Deed names to bear the duty, and the instrument is impounded until paid.

Registration

Compulsory, independently of whatever term the Lease itself had left to run when it was first registered. An assignment of a leasehold interest of more than Rs 100 in value is an instrument that "purports or operates to... assign... any right, title or interest... to or in immovable property" within s.17(1)(b) of the Registration Act, 1908 — the general provision, not the lease-specific s.17(1)(d) the Commercial Lease Deed template relies on — and virtually every assignment of a commercial tenancy clears that figure. Present within four months of execution (s.23); the Registrar may condone a further four months on a fine of up to ten times the registration fee (s.25); after eight months it cannot be registered at all. An unregistered assignment of this kind does not affect the Premises and cannot be used as evidence of the transfer under s.49 — the Assignee is left, at best, with a claim in damages against the Assignor, and no answer at all to a Landlord who chooses to treat the Assignor as still its only tenant. PUNJAB: Sub-Registrar or Joint Sub-Registrar of the tehsil in which the Premises lie (S.A.S. Nagar for Mohali/IT City); book the appointment on Easy Registry, the Punjab NGDRS instance at easyregistry.punjab.gov.in; pay the stamp duty, the three add-on levies, the registration fee, the facilitation charge and the Rs 200 pasting fee against the challan; and attend with the Landlord, the Assignor, the Assignee and two witnesses, whose photographs and biometrics are captured at the counter. Whether any further, revenue-side update is needed for a change of tenant under a leasehold interest — as distinct from a change of owner, which triggers a jamabandi mutation — was not established for this drafting; ask at the counter. CHANDIGARH: Sub-Registrar, U.T. Chandigarh, 30 Bays Building, Sector 17 — presentation 12.00 noon to 1.00 pm, registration 3.00 to 5.00 pm, collection 9.00 to 11.00 am; book and pay on revenue.chd.gov.in. Registration fee 1% capped at Rs 10,000, plus Rs 20 pasting. Copy count: the checklist this platform's Sale Deed template used states triplicate for a freehold sale and duplicate for everything else, but does not itself state a figure for a transfer of lease rights, which is what this Deed is and which that checklist does not separately address either — ask at the counter, and expect to need at least three, one for each of the Landlord, the Assignor and the Assignee. Where the Premises stand on a site the Landlord itself holds from the Estate Officer or the Chandigarh Housing Board, that authority's own permission for the change of tenant — separate from, and in addition to, the Landlord's consent this Deed records — may also be required before the assignment can safely proceed.

Notarisation

Not an alternative to registration, and adds nothing where registration follows, exactly as for the Lease itself. Use the notary for what travels alongside this Deed rather than for the Deed itself: a board resolution or other authority letter for whichever Party signs through a representative, and — where the Assignor gives one — a declaration of no other subsisting assignment, charge or sub-letting of the Premises inconsistent with this one. A power of attorney used to execute or present this Deed needs s.33 Registration Act, 1908 authentication (registering officer, magistrate, or abroad: notary plus consular attestation, and in Chandigarh, Finance Department embossing) before execution.

Witnesses

Two witnesses, and they must attend the registration, exactly as for the Lease itself. Chandigarh adds a real qualification: under para 127, Punjab Registration Manual, the FIRST witness must be known to the Sub-Registrar (councillor/gazetted officer/advocate in sectors; Lambardar/Sarpanch/Member Panchayat rural), and both witnesses must be known to each other. Punjab: two identifying witnesses with photo ID, captured at the Sub-Registrar's office alongside the Parties. What gates registration is attendance: the Landlord, the Assignor and the Assignee in person with photo ID/PAN, photographed, thumb impressions; a company through its authorised signatory with board resolution; an absent executant needs a s.33-authenticated power of attorney.

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DEED OF ASSIGNMENT OF LEASE

This Deed of Assignment of Lease (this "Deed") is made at S.A.S. Nagar (Mohali) on 3 April 2026.

BETWEEN

Chandan Properties Private Limited, an individual, of House No. 1204, Sector 33-C, Chandigarh 160020, PAN AABCC1234K, acting through Harpreet Kaur Chandan, Director, authorised by board resolution dated 3 March 2026 (the "Landlord", which expression includes its successors in interest and permitted assigns);

AND

Northline Retail Ventures Private Limited, an individual, of Shop No. 14, Ground Floor, Sector 66 Market, S.A.S. Nagar (Mohali) 160066, PAN AAECN5678L, acting through Rohit Nair, Director, authorised by board resolution dated 6 March 2026 (the "Assignor");

AND

Kaveri Fashions LLP, an individual, of SCO 41, Sector 26, Chandigarh 160019, PAN AAJFC4321M, acting through Priya Menon, Designated Partner, authorised by the LLP agreement (the "Assignee", which expression includes its successors in interest and permitted assigns).

The Landlord, the Assignor and the Assignee are each a "Party" and together the "Parties".

RECITALS

A. By the Lease particularised as Lease Deed dated 14 March 2019 between Chandan Properties Private Limited ("Landlord") and Northline Retail Ventures Private Limited, registered as document no. 3315 in Book No. 1, Volume No. 2104 at pages 61-78 in the office of the Sub-Registrar, S.A.S. Nagar (Mohali), for a term of fifteen years from 1 April 2019 over Shop No. 14, Ground Floor, Sector 66 Market, S.A.S. Nagar (Mohali), executed on 1 April 2026 (the "Lease"), the Landlord let the premises described in Schedule I (the "Premises") to the Assignor. The Lease expires, or its current renewed term expires, on 5 April 2026.

B. The Assignor is the present tenant under the Lease and is in occupation of the Premises.

C. The Assignor has agreed to assign, and the Assignee has agreed to take an assignment of, the whole of the Assignor's estate, right, title and interest as tenant under the Lease, for the entire unexpired residue of its term, on the terms of this Deed.

D. The Lease permits the Assignor to assign it without the Landlord's further consent, and the Landlord joins in this Deed to confirm that position and to accept the Assignee as tenant in place of the Assignor with effect from the Effective Date.

E. The Landlord accordingly joins in this Deed to grant or confirm that consent, to accept the Assignee as tenant in place of the Assignor with effect from the Effective Date, and to record the Parties' agreement on the matters in the Assignor's Continuing Liability clause.

F. Three places in this Deed independently name the jurisdiction in which the Premises lie — this Recital and Schedule I, the Stamp Duty and Registration clause, and the registering office it names. The Parties confirm that they have read those together before executing this Deed and that each describes the same jurisdiction.

NOW THIS DEED WITNESSES as follows.

DEFINITIONS

1.1 "Lease" means the lease particularised in Recital A, as it may have been varied in writing before the date of this Deed.

1.2 "Premises" means the premises described in Schedule I, being the whole of the premises comprised in the Lease.

1.3 "Effective Date" means 4 April 2026, being the date on which this assignment takes effect.

1.4 "residue of the Term" means the period from the Effective Date to 5 April 2026.

1.5 "Assignment Consideration" means the amount stated in the Assignment Consideration clause.

1.6 "Security Deposit" means the amount stated in the Security Deposit clause.

1.7 References to a statute are to that statute as amended or re-enacted, and include a statute as extended to the place where the Premises are situated. Headings do not affect interpretation. The singular includes the plural.

CONSENT TO ASSIGNMENT

2.1 The Lease permits the Assignor to assign it without the Landlord's further consent, and the Landlord joins in this Deed to confirm that position and to accept the Assignee as tenant in place of the Assignor with effect from the Effective Date.

2.2 The Landlord confirms that, as at the Effective Date and so far as its own records show, the Lease is subsisting, has not been forfeited or surrendered, and no notice terminating it is outstanding.

ASSIGNMENT

3.1 In consideration of the Assignment Consideration and the mutual covenants in this Deed, the Assignor, with the Landlord's consent recorded in clause 2, ASSIGNS to the Assignee ALL the Assignor's estate, right, title and interest as tenant under the Lease in the Premises, TO HOLD the same unto the Assignee for the residue of the Term from the Effective Date, SUBJECT TO the rent, covenants, conditions and provisions of the Lease, and the Assignee accepts this assignment on those terms.

3.2 This Deed assigns the Assignor's existing tenancy. It is not a fresh lease and does not restate the Lease, and every term of the Lease not varied by this Deed continues to apply between the Landlord and the Assignee, in place of the Assignor, exactly as it applied between the Landlord and the Assignor.

EFFECTIVE DATE

4.1 This assignment takes effect on the Effective Date. From that date, the Assignee is the tenant under the Lease in place of the Assignor for every purpose, and the Assignor ceases to be the tenant in possession, without prejudice to the Assignor's Continuing Liability clause.

RENT AND ARREARS AS AT THE EFFECTIVE DATE

5.1 As at the Effective Date, rent and every other sum payable by the Assignor to the Landlord under the Lease has been paid in full, and no arrears are outstanding.

ASSIGNMENT CONSIDERATION

6.1 The Assignee shall pay the Assignor ₹15,00,000 (Rupees Fifteen Lakh only) as consideration for this assignment, over and above the amount payable under the Security Deposit clause.

Questions about this document

Does the Assignment of a Commercial Lease need stamp paper or stamp duty in Punjab and Chandigarh?

Duty is on the ASSIGNMENT itself, not on the rent the Lease reserves, and it is charged as a conveyance, not as a lease. All figures checked as described in the file header.

WHY A CONVEYANCE, NOT A LEASE: "Lease" in s.2(16) of the Indian Stamp Act, 1899 covers the GRANT of a lease and does not extend to the ASSIGNMENT of one already granted. An assignment of a leasehold interest for consideration is therefore, on the general law, a "Conveyance" as defined in s.2(10) — an instrument transferring property inter vivos not otherwise specifically provided for — and is charged ad valorem on the value transferred, not on a term-banded rent percentage.

PUNJAB: this drafting could not locate an entry in Schedule I-A to the Indian Stamp Act, 1899 as applied to Punjab that charges a transfer of leasehold rights at a rate lower than an ordinary conveyance, the way Chandigarh's own schedule does (below). Absent such an entry, this Deed is charged under entry 23 of Schedule I-A: 5% duty, plus the Social Infrastructure Cess at 1% under section 3-D of the Act as applied to Punjab, plus the Punjab Infrastructure Development Board fee at 1% and the Special Infrastructure Development Fee at 0.25%, both under the Punjab Infrastructure (Development and Regulation) Act, 2002 — 7.25% in total, the same rate and components this platform's Sale Deed template states for a sale of freehold property. Registration fee is 1% of the same value, capped at Rs 2,00,000; facilitation charges are Rs 1,000 up to Rs 10 lakh, Rs 3,000 from Rs 10 lakh to Rs 30 lakh, Rs 5,000 above that; pasting fee Rs 200. Confirm at the Sub-Registrar's counter, before the stamp is bought, that no lower entry in fact applies — this is the point in this Deed's stamping position this drafting is least confident of, and it is the first substantive item this template's drafter flags for a lawyer to check.

CHANDIGARH: the Administration's published Rates of Stamp Duty & Registration Fees schedule at revenue.chd.gov.in — the same schedule this platform's Sale Deed template uses, its footer recording a last update of 3 May 2022 — separately charges "transfer of lease rights by way of sale" at 3%, distinctly lower than the 5% it charges on a freehold sale. That is exactly what this Deed is, so 3% is the rate. Registration fee is 1% of the same value capped at Rs 10,000, plus a pasting fee of Rs 20.

BOTH: the value on which duty is computed is the higher of the Assignment Consideration this Deed states and the market or Collector-rate value of the unexpired leasehold interest actually transferred — not simply the Collector rate for the freehold land, which overstates what a residual leasehold term is worth. This template does not compute that valuation; the person completing it has to arrive at it, in the same way this platform's Sale Deed template leaves the higher-of comparison to the person completing that deed. No family or gender concession is stated for either jurisdiction: the Sale Deed template records a Punjab concession for a female buyer and a Punjab exemption for a transfer between blood relations, and both apply to entry 23 conveyances of the ordinary kind; whether either extends to this narrower conveyance of a leasehold assignment was not established for this drafting, so neither is relied on here. Under-stamping: the deficiency plus a penalty of up to ten times it fall on whoever this Deed names to bear the duty, and the instrument is impounded until paid.

Does the Assignment of a Commercial Lease need registration in Punjab and Chandigarh?

PUNJAB: Sub-Registrar or Joint Sub-Registrar of the tehsil in which the Premises lie (S.A.S. Nagar for Mohali/IT City); book the appointment on Easy Registry, the Punjab NGDRS instance at easyregistry.punjab.gov.in; pay the stamp duty, the three add-on levies, the registration fee, the facilitation charge and the Rs 200 pasting fee against the challan; and attend with the Landlord, the Assignor, the Assignee and two witnesses, whose photographs and biometrics are captured at the counter. Whether any further, revenue-side update is needed for a change of tenant under a leasehold interest — as distinct from a change of owner, which triggers a jamabandi mutation — was not established for this drafting; ask at the counter.

CHANDIGARH: Sub-Registrar, U.T. Chandigarh, 30 Bays Building, Sector 17 — presentation 12.00 noon to 1.00 pm, registration 3.00 to 5.00 pm, collection 9.00 to 11.00 am; book and pay on revenue.chd.gov.in. Registration fee 1% capped at Rs 10,000, plus Rs 20 pasting. Copy count: the checklist this platform's Sale Deed template used states triplicate for a freehold sale and duplicate for everything else, but does not itself state a figure for a transfer of lease rights, which is what this Deed is and which that checklist does not separately address either — ask at the counter, and expect to need at least three, one for each of the Landlord, the Assignor and the Assignee. Where the Premises stand on a site the Landlord itself holds from the Estate Officer or the Chandigarh Housing Board, that authority's own permission for the change of tenant — separate from, and in addition to, the Landlord's consent this Deed records — may also be required before the assignment can safely proceed.

What does the Assignment of a Commercial Lease cost on Kaagazaat?

₹1,499, GST included.

Launch period: downloads are free for now. The prices shown apply once payments open.

Does the Assignment of a Commercial Lease need witnesses?

Two witnesses, and they must attend the registration, exactly as for the Lease itself.

Chandigarh adds a real qualification: under para 127, Punjab Registration Manual, the FIRST witness must be known to the Sub-Registrar (councillor/gazetted officer/advocate in sectors; Lambardar/Sarpanch/Member Panchayat rural), and both witnesses must be known to each other.

Punjab: two identifying witnesses with photo ID, captured at the Sub-Registrar's office alongside the Parties.

What gates registration is attendance: the Landlord, the Assignor and the Assignee in person with photo ID/PAN, photographed, thumb impressions; a company through its authorised signatory with board resolution; an absent executant needs a s.33-authenticated power of attorney.

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