Hon’ble Pankaj Mithal, J.—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.

4. In respect of the aforesaid lease agreement, on the report of the Sub-Registrar, Ghaziabad dated 5.11.2007 proceedings under Section 33 of the U.P. Stamp Act were initiated. The Additional Collector holding the aforesaid lease to be a lease for a period over 5 years subjected it to stamp duty under Article 35 (a) (iii) of Schedule 1-B to the Indian Stamp Act, 1899 (hereinafter referred to as an Act). The aforesaid order has been affirme