SATYA VIJAY Vs. STATE OF U P

JUDGEMENT

(1.) The writ petition involves interpretation of the period of lease stipulated under the lease agreement executed between M/s Naman Buildcon Limited and the petitioner for leasing out super ground floor of commercial building, Bansal Chamber situate over plot No.45, Kaushambi, district Ghaziabad and the manner of levy of stamp duty on it.

(2.) The agreement provides that the initial period of lease shall be minimum 3 years and shall commence from 1st June, 2005 with an option to the lessee for extension of two consequential terms of 3 years each and that in the event of extension of the lease the rent shall be enhanced by 15% for every term of 3 years.

(3.) The aforesaid agreement is on a stamp paper of Rs.100/- only.