OFFER OF PREMISES
From: Chadha Commercial Complex Private Limited, an individual, of SCO 11, Sector 8-C, Chandigarh 160009
Date: 2 April 2026
To,
The Regional Manager, Premises Department
Punjab National Bank
Regional Office, Sector 17-B, Chandigarh 160017
Subject: Offer of premises at Shop No. 3, Ground Floor, SCO 11, Sector 8-C, Chandigarh, Chandigarh, for use as a bank branch
Dear Sir or Madam,
- 1. The Landlord named above is the owner of, or is authorised to let, the premises described below, and offers them to Punjab National Bank (the "Bank") on the terms in this letter.
- 2. THE PREMISES. Shop No. 3, Ground Floor, SCO 11, Sector 8-C, Chandigarh, situated at Chandigarh, in the State of Punjab (the "Premises"). Floor and area offered: Ground floor, about 1,800 sq ft carpet area.
- 3. USE. The Premises are offered for use as a bank branch.
- 4. RENT. The rent asked is ₹1,80,000 (Rupees One Lakh Eighty Thousand only) per month. It will increase by 15 per cent once in every 3 years.
- 5. GST. The Landlord is registered under GST and will charge GST on the rent where the law requires it.
- 6. SECURITY DEPOSIT. An interest-free refundable security deposit of 6 months' rent, to be paid on signing the lease and refunded when the Bank vacates and hands the Premises back, less any amount properly due under the lease.
- 7. TERM AND LOCK-IN. A lease for 9 years, with a lock-in of 36 months from the start of the lease during which neither side may end it early except for a breach that is not put right after notice.
- 8. POSSESSION. The Premises can be handed over from 1 April 2026.
- 9. FIT-OUT PERIOD. The Landlord will allow 60 days from the date of handing over possession, free of rent, for the Bank to fit out the Premises. Other charges, if any, remain payable.
- 10. POWER. Electric load available at the Premises: 30 kW.
- 11. FACILITIES. The Landlord will make the following available with the Premises: Parking for six cars; space on the roof for a V-SAT dish; separate entry for an ATM kiosk.
- 12. PAPERS. On request, the Landlord will give the Bank copies of its title papers, the sanctioned building plan, the completion or occupation certificate where one has been issued, and the latest property tax receipts, so that the Bank's legal and technical teams can complete their checks.
- 13. INSPECTION. The Landlord will allow the Bank's officers and technical team to inspect the Premises at a time agreed in advance.
- 14. NOT A LEASE. This letter is an offer only. It does not create a lease or any right in the Premises, and it does not oblige the Bank to take the Premises. The terms of any lease will be those written in the lease signed by both sides, and until then either side may end the discussion.
- 15. VALIDITY. This offer stays open for 45 days from the date of this letter. After that the Landlord is free to offer the Premises to others without further notice.