ATM Space Lease Agreement

Stamp duty

This Lease creates exclusive possession of the Site for the Term at a Rent, so it is stamped as a lease under Article 35 of Schedule I-A to the Indian Stamp Act, 1899, in the same way as any other lease of immovable property in Punjab or in Chandigarh — the same bands that apply to a full commercial lease, applied here to the Rent for the Site rather than to the rent of an entire shop or office. The figures below are the same as those already worked out for the Commercial Lease Deed in this library, checked 6 September 2026 against each department's own published table (undated tables). PUNJAB: a Term of under one year is stamped at 4% of the annual Rent; one to five years at 8% of the average annual Rent; five to ten years at 3%; ten to twenty years at 3% of twice the average annual Rent; twenty to thirty years at 3% of three times it; thirty to ninety-nine years at 3% of four times it. Registration fee is 1% of the same base (twice that on the ten-to-twenty-year band), plus a facilitation charge of Rs 500, a pasting charge of Rs 200 and a mutation charge of Rs 600. E-stamp through the Stock Holding Corporation of India Limited before execution. CHANDIGARH: up to five years, 2% of the average annual Rent plus 3% on the refundable security deposit only — never on advance Rent; five to ten years, 3% plus 3% on the deposit; ten to twenty years, 3% of twice the average annual Rent plus 3% on the deposit; the bands continue upward on the same pattern to a hundred years. Registration fee is 1%, capped at Rs 10,000, plus a pasting charge of Rs 20. There is no separate band for a term under one year. BOTH: neither jurisdiction gives a family or gender concession on a commercial lease of this kind. A duplicate or counterpart is separately chargeable under Article 25. If the Site is under-stamped, the deficiency and any penalty fall on whichever Party this Lease names to bear the duty under Clause 21, and the instrument is impounded until the deficiency is paid — confirm the current figure at the counter before the Site is handed over, because a small enclosure attracts the same percentage as an entire shop, on whatever Rent the Parties actually agree.

Registration

Registration is compulsory wherever this Lease is for a term exceeding a year, from year to year, or reserves a yearly rent — Section 107 of the Transfer of Property Act, 1882 and Section 17(1)(d) of the Registration Act, 1908 reach a lease of a small enclosure exactly as they reach a lease of an entire building; the Site being physically small does not take it outside either section. Present this Lease for registration within four months of execution under Section 23 of the Registration Act, 1908; a further four months is available on a fine of up to ten times the registration fee under Section 25. An unregistered Lease that needed registration is kept out of evidence of its own term and Rent under Section 49, and the Lessee is left with a monthly tenancy at best — a real risk here, because a bank or NBFC's Automated Teller Machine deployment often runs for several years on paper that nobody thought needed a Sub-Registrar's stamp. PUNJAB: present at the Sub-Registrar of the tehsil in which the Site is situated, via igrpunjab.gov.in. Whether Section 4(1)-(2) of the Punjab Rent Act, 1995 — which requires a covered non-residential letting to be on the Schedule I Form and registered at a flat Rs 1,000 fee, notwithstanding the Registration Act, 1908 — reaches a Site let only for an Automated Teller Machine, rather than for the Lessee's own business occupation, is exactly the question the Commercial Lease Deed in this library leaves open for a full premises letting, and it is at least as open here; see lawyerShouldCheck. CHANDIGARH: present at the Sub-Registrar, 30 Bays Building, Sector 17, via revenue.chd.gov.in. Registration fee is 1%, capped at Rs 10,000, plus a pasting charge of Rs 20.

Notarisation

Not an alternative to registration — a notarised but unregistered Lease that needed registration still fails Section 49 of the Registration Act, 1908 — and adds nothing where registration follows. Use a notary for the papers around this Lease instead: a board resolution or authority letter for whoever signs for a corporate Party, and a power of attorney used to execute or present this Lease, which needs authentication under Section 33 of the Registration Act, 1908 (by the registering officer, a magistrate, or, if executed abroad, a notary followed by consular attestation) before this Lease is executed, not after.

Witnesses

No statute makes a witness's signature a condition of this Lease taking effect between the Parties — Section 107 of the Transfer of Property Act, 1882 needs only execution by both — but two witnesses, adults, not the Parties or their signatories, remain good practice, and the signature block provides for them. Where this Lease is presented for registration, the registering office's own rule applies: in Chandigarh, under paragraph 127 of the Punjab Registration Manual, the first witness must be known to the Sub-Registrar — in practice a councillor, a gazetted officer or an advocate — and the two witnesses known to each other; in Punjab, two identifying witnesses with photo identity, captured in NGDRS.