( 1 ) THIS is a reference made under Section 54 (1) of the karnataka Stamp Act 1957 (hereinafter called the Act ).

( 2 ) THE essential facts leading up to this reference are as follows : the instrument styled as lease deed dated 18-10-1996 executed by M/s. Golf View homes a registered partnership firm as lessor and M/s. Texas Instruments India Limited as lessee, was presented for registration before Sub-Registrar Bangalore (South) taluk. Said instrument is drawn up on stamp paper of Rs. 21,92,000/ -. Under the said document lessor has leased premises with 1,41,183/- sq. ft. of the built up area for a period of 10 years on monthly rent of rs. 11. 25 per square foot for first 5 years and for next five years rent at escalation of 30%. The lessor received Rs. 3,81,19,410/-- equivalent to rent for 24 months as a refundable security deposit which is repayable by the lessor and will be adjusted in the rental for the last two years of lease period. The rent reserved at agreed rate for the first five years at the rate of Rupees 15,88,308/- per month would come to Rs. 9,52,98,525/-- and for next five years at the rate of rs. 20,64,800/- would come to Rupees 12,38,88,. 024/-