Kagaznama

Vacating and Final Settlement Letter

At a glance

Price: Free
Stamp duty: No stamp duty attaches to this Letter in Punjab or in Chandigarh.
Registration: Not compulsorily registrable under section 17 of the Registration Act, 1908, in either Punjab or Chandigarh — this Letter records notice and an account, not a right in immovable property.
Witnesses: None needed for clause 3 alone.

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Also called

Notice of Intention to Vacate Commercial Premises
Commercial Vacating Notice
Tenant's Vacating and Settlement Letter
Vacating-cum-Settlement Letter
Final Settlement Letter on Vacating Commercial Premises
Vyavsayik Parisar Khali Karne ka Notice
Kiraya evam Jamanat Hisaab Nipatan Patra

When you need it

For a commercial tenant leaving at the end of, or before, a lease term in Punjab or Chandigarh: gives the Landlord the notice the Lease requires, and, once the figures are ready, closes the account in the same Letter — rent, CAM and utility arrears, any lock-in exposure, deposit deductions, and the net figure. A single choice near the top decides which job it is doing: send it as the notice alone, weeks before the numbers are final, or use it as the combined notice and settlement.

Not for a landlord's own notice to the tenant; a lease still running that both sides want to end early by a mutual, registrable deed (use the Deed of Surrender and Termination of Lease instead); a deposit refund issued with no vacating notice behind it (use the Security Deposit Refund and Settlement Letter instead); or a residential tenancy.

Whether you can fill this in here

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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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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

No stamp duty attaches to this Letter in Punjab or in Chandigarh. Clause 3 only gives notice under a right the Lease already contains, and clause 4, where it applies, is an accounting record between the Parties — it does not create, transfer, limit or extinguish any right, title or interest in the Premises, so no article of Schedule I to the Indian Stamp Act, 1899 as applicable to Punjab and to Chandigarh charges it. If the Parties instead want a general release of every claim between them, not only the accounts this Letter itemises, draft that separately as a release or discharge deed and take a fresh stamp view of it; a wider release can be charged ad valorem where this accounting letter is not.

Registration

Not compulsorily registrable under section 17 of the Registration Act, 1908, in either Punjab or Chandigarh — this Letter records notice and an account, not a right in immovable property. Where the Lease itself is registered and its term has not run out, ending it before term needs its own registered deed of surrender; this Letter is not that deed, and clause 4.7 says so.

Notarisation

Not required in Punjab or in Chandigarh. What actually protects the Tenant is proof of delivery — the notice period in clause 3 runs from the date the Landlord receives this Letter, not the date typed on it — so keep the courier or postal receipt, the signed acknowledgement, or the email read receipt, rather than a notarised copy.

Witnesses

None needed for clause 3 alone. Where clause 4 is used, have two adult witnesses, not parties, sign the settlement and the receipt — the same practice this library recommends for the Security Deposit Refund and Settlement Letter — because a signed and witnessed receipt is the document a court gives most weight to if the payment is later disputed.

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VACATING AND FINAL SETTLEMENT LETTER

Date: 3 April 2026
Place: Chandigarh

From (the Tenant)
Northline Retail Ventures Private Limited, an individual, of X
Email: X

To (the Landlord)
Sunrise Estates Private Limited, an individual, of X
Email: X

Subject: Notice of intention to vacate the Premises

Dear Sir or Madam,

1. The Lease and the Premises

1.1 By the Lease Deed dated 1 April 2026 (registered with the Sub-Registrar, S.A.S. Nagar, as Document No. 4521 of 2024) (the "Lease"), the Tenant holds the premises described as: Unit 12, Ground Floor, Sector 34-A Market, Chandigarh 160022, admeasuring 850 sq ft of covered area (the "Premises"), used for office purposes.

1.2 The current monthly rent is ₹85,000 (Rupees Eighty Five Thousand only), and rent has been paid up to 2 April 2026. The Landlord holds a refundable security deposit of ₹5,10,000 (Rupees Five Lakh Ten Thousand only) paid by the Tenant under the Lease (the "Security Deposit").

2. What This Letter Covers

2.1 This Letter serves only as the Tenant's notice of intention to vacate the Premises on the Vacating Date. The final settlement of accounts will be recorded separately once the Premises have been vacated and inspected.

3. Notice of Intention to Vacate

3.1 The Tenant gives notice that it intends to vacate the Premises and hand over vacant possession to the Landlord on 4 April 2026 (the "Vacating Date").

3.2 The Lease requires 3 months' notice before vacating. This notice gives the Landlord the full notice period the Lease requires, and the Vacating Date is on or after the day that notice period ends.

3.3 The lock-in period under the Lease has already ended, so nothing further is payable on that account. The amount presently estimated on that account is ₹25,000 (Rupees Twenty Five Thousand only).

3.4 This notice takes effect from the date the Landlord receives it, not from the date typed above. The Tenant shall keep proof of delivery — a signed acknowledgement, a courier or postal record, or a read receipt where sent by email.

5. Handover

5.1 The Tenant shall hand over all keys, access cards and other access devices to the Landlord on the Vacating Date.

5.2 The Parties shall carry out, or shall be treated as having carried out, a joint inspection of the Premises on 5 April 2026, and shall record its outcome in an inspection note signed by both of them.

6. Governing Law and Disputes

6.1 This Letter is governed by the laws of India.

6.2 A dispute arising out of or in connection with this Letter shall be resolved by arbitration by a sole arbitrator agreed between the Parties under the Arbitration and Conciliation Act, 1996, the seat and venue being the city named below. The city named for that purpose is Chandigarh.

7. Notices

7.1 A notice or communication under this Letter shall be in writing and delivered by hand against acknowledgement, or sent by registered post or reputed courier, to the address of the receiving Party stated above; a communication to the Landlord may in addition be sent by email to X; a communication to the Tenant may in addition be sent by email to X.

Questions about this document

Does the Vacating and Final Settlement Letter need stamp paper or stamp duty in Punjab and Chandigarh?

No stamp duty attaches to this Letter in Punjab or in Chandigarh.

See the full position on stamp duty, registration and witnesses

Does the Vacating and Final Settlement Letter need registration in Punjab and Chandigarh?

Not compulsorily registrable under section 17 of the Registration Act, 1908, in either Punjab or Chandigarh — this Letter records notice and an account, not a right in immovable property.

See the full position on stamp duty, registration and witnesses

What does the Vacating and Final Settlement Letter cost on Kagaznama?

Free.

Documents are free. Only kits are paid.

Does the Vacating and Final Settlement Letter need witnesses?

None needed for clause 3 alone.

See the full position on stamp duty, registration and witnesses

Often needed with this document

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