Kaagazaat

Revenue Share Lease for Retail

At a glance

Price: ₹1,499 · GST included
Stamp duty: Duty is on the annual average rent, banded by term, exactly as for any commercial lease in these two places — the complication here is that a revenue-share lease may not have an ascertained rent to average.
Registration: Compulsory — s.107 TPA/s.17(1)(d) for year-to-year, over a year, or yearly rent leases, whatever the rent turns out to be once collected.
Witnesses: TPA doesn't require attestation (s.107 needs only execution by both parties) but both offices expect two witnesses, adults, not parties.

₹1,499

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Also called

Revenue Sharing Lease Deed
Turnover Rent Lease
Percentage Rent Lease
Revenue Share Agreement
Turnover Rent Agreement
Minimum Guarantee Lease
MG Lease
Sales-Linked Rent Lease

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A registered lease of retail or food-and-beverage premises in Punjab or Chandigarh where rent is wholly or partly a share of the Lessee's sales — a mall unit in Mohali or Zirakpur, a food court counter, a high-street showroom in Chandigarh, or an anchor store in a Ludhiana or Amritsar shopping centre. Fixes the rent structure — pure revenue share, Base Rent plus a threshold, or a Minimum Guarantee reconciled against turnover — the revenue-share percentage, what counts as Gross Sales, monthly reporting, the Lessor's audit right, deposit, GST, TDS, lock-in and notice. For exclusive possession, year-to-year, over a year, or at yearly rent (s.107 TPA; s.17(1)(d) Registration Act). Punjab: Sub-Registrar of the tehsil, via igrpunjab.gov.in. Chandigarh: Sub-Registrar, 30 Bays Building, via revenue.chd.gov.in. Two points run opposite ways, as for any commercial lease in these two places. Chandigarh is rent-controlled whatever the rent (East Punjab Urban Rent Restriction Act 1949 via the 1974 Extension Act — Vasu Dev Singh v. Union of India, Supreme Court, 7 November 2006, quashed the exemption notification); expiry alone does not recover possession, a s.13 ground before the Rent Controller is still needed. Punjab runs the other way for non-residential premises let on or after 30 November 2013: s.3(2), Punjab Rent Act 1995 lets contract terms govern. STAMP DUTY ON A VARIABLE RENT IS A REAL PRACTICAL QUESTION THIS DEED FLAGS RATHER THAN INVENTS AN ANSWER FOR. Both jurisdictions duty a lease on its annual average rent, and a rent that is wholly or partly a share of sales has no such figure until the Term has run. This deed asks the Parties to record an agreed annual figure to stamp against — the Minimum Guarantee where the Rent Structure has one, or a bona fide notional figure they record where it does not — and clause 3 says so; confirm the acceptable basis with the Sub-Registrar before the stamp is bought. Not for: an office, warehouse or industrial letting at a fixed rent (the Commercial Lease Deed covers that); a kiosk or a shop-in-shop concession where no exclusive possession passes, which is a licence and not a lease; a coworking seat; agricultural or bare land; or a letting by GMADA, GLADA, PUDA, an Estate Officer or the Chandigarh Housing Board itself. No lock-in unless the Parties fix one below: either Party may otherwise terminate on notice from day one.

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 annual average rent, banded by term, exactly as for any commercial lease in these two places — the complication here is that a revenue-share lease may not have an ascertained rent to average. All figures checked 6 September 2026 (undated tables, the same ones the library's Commercial Lease Deed cites). PUNJAB: one-five years 8% of average rent; five-ten years 3%; ten-twenty 3% of twice it; twenty-thirty 3% of three times; thirty-99 3% of four times. Reg fee 1% (twice on the ten-twenty band), facilitation Rs 500, pasting Rs 200, mutation Rs 600. The 8% one-five-year band looks like a departmental error (higher than the bands on either side) — confirm at the counter. E-stamp via SHCIL before execution. CHANDIGARH: up to five years 2% plus 3% on the refundable security deposit only, never advance rent (verified at the Sub-Registrar, SAS Nagar (Mohali), September 2026); five-ten 3% plus 3%; ten-twenty 3% of twice plus 3%; twenty-thirty 3% of three times plus 3%; thirty-100 3% of four times plus 3%. Reg fee 1% capped Rs 10,000 plus Rs 20 pasting. THE ANNUAL AVERAGE RENT ON A VARIABLE-RENT LEASE: where the Rent Structure carries a Minimum Guarantee or a Base Rent, average that figure across the Term after its own escalation, the same arithmetic as a fixed-rent lease — clause 3 explains it and the Revenue Share above it does not, on the position this deed takes, change that computation. Where the Rent Structure is pure revenue share with no floor at all, there is no ascertained figure, and the Parties must record a bona fide notional annual rent for stamping — commonly the actual rent for a preceding year on a renewal, or a considered pre-opening estimate on a fresh lease. Whether a Sub-Registrar will accept a notional figure for a purely variable rent, and whether the revenue-share amount actually collected above a Minimum Guarantee attracts further duty of its own, are open questions this deed does not resolve; confirm the acceptable basis at the counter before the stamp is bought.

Registration

Compulsory — s.107 TPA/s.17(1)(d) for year-to-year, over a year, or yearly rent leases, whatever the rent turns out to be once collected. Present within four months (s.23), four more on fine (s.25); inadmissible under s.49 if unregistered. PUNJAB — THE SECTION 4 FEE FORK: Sub-Registrar of the tehsil (S.A.S. Nagar for Mohali/IT City retail), via igrpunjab.gov.in, photographs/Aadhaar/PAN. Published table: 1% of annual rent plus Rs 500 facilitation — but s.4(1)-(2), Rent Act 1995 requires a covered non-residential letting on the Schedule I Form at flat Rs 1,000, notwithstanding the Registration Act, so this deed and its 1% duty may be wrong where the Act applies. Settle in writing before engrossing. CHANDIGARH: Sub-Registrar, 30 Bays Building — 12-1pm presentation, 3-5pm registration, 9-11am collection. Fee 1% capped Rs 10,000 plus Rs 20 pasting. No jamabandi/mutation for sector property — title is the Estate Officer's allotment file at estateoffice.chd.gov.in (Manimajra and the lal dora/phirni areas use a fard instead); prior Estate Office permission may be needed to let. Deeds executed outside India for Chandigarh need Finance Department embossing.

Notarisation

Not an alternative to registration — a notarised but unregistered lease over a year still fails s.49; adds nothing where registration follows, normally skipped. Use the notary for surrounding papers: board resolution/authority letter, title/vacant-possession affidavit, an allottee-lessor's indemnity, mortgagee no-objection, head-lease residue confirmation, permitted-use undertaking. A POA used to execute/present needs s.33 authentication (registering officer, magistrate, or abroad: notary plus consular attestation) BEFORE execution — an unauthenticated power gets refused at the counter, delaying registration. Chandigarh: also needs Finance Department embossing if executed abroad.

Witnesses

TPA doesn't require attestation (s.107 needs only execution by both parties) but both offices expect two witnesses, adults, not parties. 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), both known to each other — a driver and neighbour get turned away. Executant/claimant photographs affixed. Punjab: two identifying witnesses with photo ID, captured in NGDRS. What gates registration is attendance: both executants 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 POA.

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REVENUE SHARE LEASE DEED

This Revenue Share Lease Deed (this "Deed") is made at Chandigarh on 3 April 2026.

BETWEEN

Trishala Malls Private Limited, an individual, of SCO 44-45, Sector 8-C, Chandigarh 160009, PAN AABCT4321M, acting through Manpreet Sidhu, Director, authorised by board resolution dated 2 March 2026 (the "Lessor", which expression includes its successors in interest and permitted assigns);

AND

Northline Foods Private Limited, an individual, of Plot No. 21, Industrial Area, Phase 2, Chandigarh 160002, PAN AAECN6789P, acting through Aditi Verma, Director, authorised by board resolution dated 4 March 2026 (the "Lessee", which expression includes its successors in interest and permitted assigns).

The Lessor and the Lessee are each a "Party" and together the "Parties".

RECITALS

A. The premises described in Schedule I are referred to in this Deed as the "Premises". The Premises are situated at Chandigarh, in the State of Punjab, forming part of Trishala High Street Mall. The Lessor is the absolute owner of the Premises.

B. The Lessee has requested a lease of the Premises for its business, on terms under which Rent is computed wholly or partly by reference to the Lessee's sales from the Premises, and the Lessor has agreed to grant one on the terms set out below.

C. The Parties intend this Deed to create a lease within the meaning of s.105 of the Transfer of Property Act, 1882, transferring to the Lessee the right to exclusive possession of the Premises for the Term, and not a licence, notwithstanding that part or all of the Rent is computed as a share of the Lessee's sales.

D. The Term of this lease exceeds one year and reserves a yearly rent. The Parties accordingly execute this Deed as a registered instrument, as s.107 of the Transfer of Property Act, 1882 requires, and shall have it registered under s.17(1)(d) of the Registration Act, 1908.

E. Three provisions of this Deed each identify the place in which the Premises lie — Recital A and Schedule I, the stamp duty computation in clause 23.2, and the rent statute identified in clause 25.1. The Parties confirm that they have read those three provisions together before executing this Deed and that each of them describes the same jurisdiction.

NOW THIS DEED WITNESSES as follows.

DEFINITIONS

1.1 "Commencement Date" means 4 April 2026.

1.2 "Term" means the period stated in the Grant clause.

1.3 "Rent Commencement Date" means the Commencement Date, unless a rent-free fit-out period is stated in the Rent clause, in which case it means the date stated there.

1.4 "Rent Structure" means the basis on which Rent is computed, stated in clause 3.2.

1.5 "Fixed Rent" means the amount stated in clause 3.3, payable only where the Rent Structure is the Base-Rent-plus-threshold option or the Minimum-Guarantee option in clause 3.2. There is no Fixed Rent where the Rent Structure is the pure revenue-share option.

1.6 "Threshold" means the amount stated in clause 3.5, applicable only where the Rent Structure is the Base-Rent-plus-threshold option.

1.7 "Gross Sales" has the meaning given in clause 4.2, read with clause 4.3.

1.8 "Revenue Share" means, for any period, 8% of Gross Sales for that period, or, where the Rent Structure is the Base-Rent-plus-threshold option, 8% of Gross Sales for that period in excess of the Threshold, computed and paid under clause 4.

1.9 "Rent" means, for any period, the Fixed Rent (if any) for that period together with the Revenue Share for that period, and every reference in this Deed to Rent includes both, whichever the Rent Structure makes payable for that period.

1.10 "Lease Year" means each successive period of twelve months beginning on the Rent Commencement Date; if the Term ends before a Lease Year is complete, the last Lease Year is the shorter period up to the end of the Term.

1.11 "Security Deposit" means the deposit stated in the Security Deposit clause, as topped up under clause 5.6.

1.12 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.

GRANT AND TERM

2.1 The Lessor grants to the Lessee, and the Lessee takes, a lease of the Premises for a term of 9 years commencing on 4 April 2026 and expiring on 5 April 2026 (the "Term"), with the right to exclusive possession of the Premises for the Term, subject to this Deed.

2.2 The Premises admeasure approximately 850 square feet of carpet area.

Together with the Premises, the Lessor grants the Lessee the exclusive use of 25,000 car parking space(s), at no additional charge.

2.3 The Lessor shall deliver possession of the Premises to the Lessee on the Commencement Date in the condition described in Schedule II, with sanctioned electricity and water connections available and the building's common services operational. The Parties shall sign a joint inspection record on the Commencement Date, which shall be annexed to and form part of Schedule II.

2.4 Where the Lessor holds the Premises under a lease or sub-lease of its own, the Lessor warrants that the unexpired residue of that lease or sub-lease at the Commencement Date exceeds the Term, and that nothing in it prevents the grant of this lease. This lease determines with the head lease out of which it is granted, and the Lessor shall do nothing to bring that head lease to an end during the Term.

RENT

3.1 Rent accrues from the Commencement Date, unless a rent-free fit-out period is stated in this clause, in which case it accrues from the Rent Commencement Date stated there.

Rent-free fit-out period: The Lessee may occupy the Premises from the Commencement Date to carry out its fit-out. No Rent is payable for the first 45 days from the Commencement Date, and the Rent Commencement Date is the day after that period ends. Maintenance charges, utility charges and the Lessee's other obligations under this Deed apply from the Commencement Date, except that the reporting obligation in clause 4.4 begins only from the month in which the Lessee first opens the Premises for trade.

3.2 Rent Structure: Pure revenue share: no Fixed Rent is payable, and Rent consists entirely of the Revenue Share on Gross Sales, computed and paid under the Revenue Share clause.

3.6 Annual average rent for stamp purposes: The annual average rent reserved by this Deed, computed on the basis explained in the Stamping formality accompanying this Deed and confirmed at the registering office, is ₹15,00,000 (Rupees Fifteen Lakh only). That figure is the base on which stamp duty on this Deed is computed under the Stamp Duty and Registration clause.

3.7 If Rent or any other sum due under this Deed is not paid within seven days of its due date, the Lessee shall pay interest at 12% per annum on the overdue amount from the due date until payment. Payment of interest does not cure a default.

REVENUE SHARE

4.1 Revenue Share: The Revenue Share for each calendar month is 8% of Gross Sales for that month, computed and reconciled monthly, with each calendar month reconciled on its own figures.

4.2 Gross Sales: "Gross Sales" means the aggregate sale price of all goods, and all charges for services, sold, supplied or rendered from or at the Premises by the Lessee and by any sub-licensee or concessionaire operating within the Premises, whether paid in cash, by card, by digital wallet, on credit, or by redemption of a gift card or voucher, including the value of goods taken on approval and not returned within thirty days.

It excludes: goods and services tax and any other tax collected from a customer and separately accounted for to the Government; the amount of a genuine refund or exchange, to the extent the original sale was included in Gross Sales; the sale price of a gift card or voucher at the time of sale (included only on redemption, so the same sale is not counted twice); the value of stock transferred between the Lessee's own outlets, not being a sale to a customer; discounts genuinely given to bulk, corporate or loyalty-programme customers in the ordinary course of business; and sales to the Lessee's own employees at a discount, up to five per cent of that outlet's total sales for the period.

4.3 Online and delivery sales: Sales booked, billed or fulfilled from the Premises through a food-delivery platform, the Lessee's own website or app, click-and-collect, or any other online or telephonic channel are included in Gross Sales at their full billed value, whatever the mode of payment or delivery

4.4 Monthly reporting: On or before day 7 of each calendar month, the Lessee shall deliver to the Lessor, for the preceding calendar month, a statement in the form of Schedule III, signed by the Lessee's authorised signatory, supported by daily point-of-sale summary reports for the period.

4.5 Payment: The Lessee shall pay the Revenue Share for a period — or, where the Rent Structure is the Minimum-Guarantee option, the amount by which the Revenue Share for that period exceeds the Fixed Rent already paid for it — within 7 days of the date the statement for that period is due under clause 4.4.

4.6 Annual statement: Within 45 days of the end of each financial year, the Lessee shall furnish the Lessor a statement of Gross Sales for that year certified by a practising Chartered Accountant, reconciled against the monthly statements furnished under clause 4.4 and against the Lessee's GST returns for the corresponding period. Any shortfall the annual statement discloses is payable within the time stated in clause 4.5, running from the date the annual statement is furnished.

4.7 Audit right: On 7 days' written notice, and not more than twice in any Lease Year save where clause 4.8 applies, the Lessor and its representatives, bound by confidentiality, may inspect and take copies of the Lessee's point-of-sale records, sales registers, GST returns and bank statements relating to the Premises, during the Lessee's business hours, to verify Gross Sales for any period within the preceding thirty-six months. The Lessor shall bear the cost of an audit under this clause, unless it discloses that Gross Sales for the period audited were understated by five per cent or more, in which case the Lessee shall bear the reasonable documented cost of that audit

4.8 Underreporting: If an audit under clause 4.7 or any other inquiry discloses that Gross Sales for a period were understated, the Lessee shall pay the shortfall in Revenue Share within seven days of the Lessor's demand, together with interest at the rate stated in the Late Payment clause, calculated from the date the shortfall ought to have been paid, and no further penalty applies for a first instance found to have been in good faith

4.9 Continuous trading: The Lessee shall keep the Premises open and actively trading during the operating hours generally notified for the building or centre in which the Premises are situated, and shall not close the Premises, wholly or substantially, for more than seven consecutive days without the Lessor's prior written consent, save for stock-taking, repairs, a directive of a public authority, or a Force Majeure event

SECURITY DEPOSIT

5.1 The Lessee shall pay the Lessor, on or before the Commencement Date, ₹6,60,000 (Rupees Six Lakh Sixty Thousand only) as an interest-free refundable security deposit. Delivery of possession is conditional on receipt of the Security Deposit.

5.2 The Security Deposit secures the Lessee's obligations under this Deed. The Lessor may deduct from it only: unpaid Rent, including an unpaid or understated Revenue Share established under clause 4.8; unpaid maintenance, utility or other charges the Lessee owes under this Deed; the reasonable documented cost of making good damage to the Premises caused by the Lessee, fair wear and tear excepted; amounts payable by the Lessee on early termination under the Lock-in clause; the reasonable documented cost of any reinstatement the Lessee was obliged to carry out under the Expiry and Reinstatement clause and did not; any misuse charge, change-of-use charge or penalty lawfully levied on the Premises because of the Lessee's own use or occupation; and any statutory dues that the Lessee was liable to pay and did not.

5.3 The Lessor shall refund the Security Deposit, less permitted deductions supported by a written statement, within 30 days of the later of handover of vacant possession and settlement of final utility, maintenance and Revenue Share reconciliation. Where practicable, handover of the Premises and refund of the Security Deposit shall be simultaneous.

5.4 If the refund is delayed beyond that period, the Lessor shall pay interest at 12% per annum on the unrefunded amount, and the Lessee may remain in occupation until refund, while continuing to pay Rent, without that occupation being treated as holding over. That right to remain in occupation lasts for no more than thirty days after the end of the refund period in clause 5.3, and the Holding Over clause applies to any occupation after that.

5.5 The Lessee shall not adjust the Security Deposit against Rent without the Lessor's written consent.

TAXES

6.1 GST: The Rent, maintenance charges and other consideration under this Deed are exclusive of GST, and the Lessee shall pay GST on them in addition, against a valid tax invoice

The Lessor's GSTIN is 04AABCT4321M1ZR.

The Lessee's GSTIN is 04AAECN6789P1ZS.

6.2 The Parties acknowledge that renting immovable property for use in the course or furtherance of business is a supply of service under GST law, and that this applies to the whole of Rent for a period, Fixed Rent and Revenue Share together, once the Revenue Share for that period is ascertained. Where the Lessor is registered under GST, the Lessor shall raise a tax invoice for the Fixed Rent, if any, for each month when it falls due, and a further tax invoice for the Revenue Share for a period once it is ascertained under clause 4, reporting both correctly in its returns and paying the tax, so that the Lessee may take input tax credit where available; if credit is denied to the Lessee because the Lessor failed to do so, the Lessor shall reimburse the Lessee that amount. Where the Lessor is not registered under GST and the Lessee is registered, the Parties acknowledge that tax on the renting of commercial immovable property is payable by the Lessee under the reverse charge mechanism as notified from time to time, subject to the exclusions in that notification, and that this applies to the Revenue Share component exactly as it applies to the Fixed Rent.

6.3 TDS: The Lessee shall deduct tax at source on Rent under s.194-I of the Income-tax Act, 1961 where the rent paid or credited attracts deduction under that section, at the time of actual payment or credit of each component — the Fixed Rent when it is paid, and the Revenue Share, or a reconciliation payment, when that amount is paid or credited under clause 4.5 or 4.6 — deposit it within the prescribed time, file the return and furnish Form 16A to the Lessor. Tax so deducted and deposited is treated as payment of Rent to that extent, and the Lessor shall not treat the deduction as a default. Where GST is charged and shown separately on the invoice, deduction shall be made on the amount excluding that tax. If a higher rate applies for want of a valid PAN under s.206AA of that Act, the resulting shortfall is the Lessor's burden.

Questions about this document

Does the Revenue Share Lease for Retail need stamp paper or stamp duty in Punjab and Chandigarh?

PUNJAB: one-five years 8% of average rent; five-ten years 3%; ten-twenty 3% of twice it; twenty-thirty 3% of three times; thirty-99 3% of four times. Reg fee 1% (twice on the ten-twenty band), facilitation Rs 500, pasting Rs 200, mutation Rs 600. The 8% one-five-year band looks like a departmental error (higher than the bands on either side) — confirm at the counter. E-stamp via SHCIL before execution.

CHANDIGARH: up to five years 2% plus 3% on the refundable security deposit only, never advance rent (verified at the Sub-Registrar, SAS Nagar (Mohali), September 2026); five-ten 3% plus 3%; ten-twenty 3% of twice plus 3%; twenty-thirty 3% of three times plus 3%; thirty-100 3% of four times plus 3%. Reg fee 1% capped Rs 10,000 plus Rs 20 pasting.

THE ANNUAL AVERAGE RENT ON A VARIABLE-RENT LEASE: where the Rent Structure carries a Minimum Guarantee or a Base Rent, average that figure across the Term after its own escalation, the same arithmetic as a fixed-rent lease — clause 3 explains it and the Revenue Share above it does not, on the position this deed takes, change that computation. Where the Rent Structure is pure revenue share with no floor at all, there is no ascertained figure, and the Parties must record a bona fide notional annual rent for stamping — commonly the actual rent for a preceding year on a renewal, or a considered pre-opening estimate on a fresh lease. Whether a Sub-Registrar will accept a notional figure for a purely variable rent, and whether the revenue-share amount actually collected above a Minimum Guarantee attracts further duty of its own, are open questions this deed does not resolve; confirm the acceptable basis at the counter before the stamp is bought.

Does the Revenue Share Lease for Retail need registration in Punjab and Chandigarh?

PUNJAB — THE SECTION 4 FEE FORK: Sub-Registrar of the tehsil (S.A.S. Nagar for Mohali/IT City retail), via igrpunjab.gov.in, photographs/Aadhaar/PAN. Published table: 1% of annual rent plus Rs 500 facilitation — but s.4(1)-(2), Rent Act 1995 requires a covered non-residential letting on the Schedule I Form at flat Rs 1,000, notwithstanding the Registration Act, so this deed and its 1% duty may be wrong where the Act applies. Settle in writing before engrossing.

CHANDIGARH: Sub-Registrar, 30 Bays Building — 12-1pm presentation, 3-5pm registration, 9-11am collection. Fee 1% capped Rs 10,000 plus Rs 20 pasting. No jamabandi/mutation for sector property — title is the Estate Officer's allotment file at estateoffice.chd.gov.in (Manimajra and the lal dora/phirni areas use a fard instead); prior Estate Office permission may be needed to let.

Deeds executed outside India for Chandigarh need Finance Department embossing.

What does the Revenue Share Lease for Retail cost on Kaagazaat?

₹1,499, GST included.

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

Does the Revenue Share Lease for Retail need witnesses?

TPA doesn't require attestation (s.107 needs only execution by both parties) but both offices expect two witnesses, adults, not parties.

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), both known to each other — a driver and neighbour get turned away. Executant/claimant photographs affixed.

Punjab: two identifying witnesses with photo ID, captured in NGDRS.

What gates registration is attendance: both executants 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 POA.

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