Revenue Share Lease for Retail

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 (not on advance rent); 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.