Answers ( 4 )

  1. For renting out your commercial space to a Bank:

    You will need to get in touch with the Regional Manager of the concerned Bank. Then you need to provide him/her with complete details and documents of the property along with a written application. He/she will analyze your application and then accept or reject the application. I would suggest that you select a bank which does not have an ATM/Branch in 2 km radius.

    For ATM installation:

    1. You will have to file an application in the bank for ATM installation with complete details of the property including the area, locality, nearby landmarks, etc.

    2. Depending on the demand and footfall in the area, the bank will accept or reject the application.

    3. Minimum space required for ATM installation is 10 ft by 10 ft.

    4. You will also need to provide a space for server room and facility of dish for network connectivity

    5. The rent can be anywhere between Rs 60 per sq ft and Rs 150 per sq ft. However, this might vary depending on the prevailing market rates and also the number of ATM transactions per day.


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  2. If you have a commercial space or a shop and you are planning to put it on rent to a Bank 

    Then you should know a few things beforehand. 

    Not every commercial space can be taken as bank space. Generally when a bank needs rental space, that specific bank publishes the advertisement with property requirements that bank is looking for. If your property meets the criteria then you can participate by applying your application with the property documents such as sale deed, title deed, NOC to the concerned bank. The bank will collect the application and will announce the shortlisted applicant through advertisement. 

    If you have a shop then you can lease your property for ATM installation , now you must be wondering how to rent your space for an ATM. Here I will explain to you everything to  rent out space for atm.

    Mandatory details for ATM space required by the bank.

    If your property falls under these requirements then your property is eligible for ATM installation:

     

    • The property should be in a commercial area or in a developed residential area    
    • The surface area of the  property for ATM installation should be 60 to 100 square feet .
    • The sealing should be made of concrete, for a B-set setup. 
    • The applicant should be holding NOC for B-set installation or a written application signed by all the residents of the building.

    Process rent your space for ATM machine:

    To rent out your property for a bank ATM you need to visit the concerned bank and apply to the branch manager. Once your proposal is reviewed then the bank authorities will visit your property. If your property is approved by the bank authorities then you will be called to the bank for further process.

     Where to visit for ATM installation in your property 

    • Public Sector Banks
    • Private Sector Banks
    • NBFCs
    • Muthoot ATM

    You can also post your property at NoBroker 

    Click here to list your property for rent absolutely FREE!

    Unable to find the right tenants for your commercial property? Let NoBroker Experts help you. Check out NoBroker Owner Plan and get genuine tenants quickly without any hassle.


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    Best answer
  3. Buying property for investment purposes is awesome. But what if you make a source of earning out of it. If you have a commercial property which is lying vacant in a busy market, then you might be missing out on an opportunity to make lucrative deals and lots of money. These days if you consider to rent your property to bank, it will be a great deal. In this answer I will tell you steps to follow to give space for bank on rent for ATM. Mind you, there are a few prerequisites for that as well. Continue reading to know everything about how to rent space for ATM.

    How to rent your property to bank?

    The first step is to know how to approach the bank to give them your property on rent. Here are a few points that will help you.

    • Keep an eye out for newspaper ads. Usually, there is an advertisement regarding space for bank on rent along with requirements suitable for their purposes. Banks print out ads to attract proposals.
    • Another way is to check bank websites. Banks upload ads on their websites too to get proposals from the interested parties. They have a certain deadline till which the property owners can submit their property details and proposal.
    • You can ask around in the banks by visiting them personally and asking if there is any requirement.

    Requirements to be fulfilled to rent your property to bank

    There are certain requirements which must be fulfilled if you want to rent your property to any bank of India. Here is a quick list for you:

    • What is the carpet area of your property?
    • Provision for ATM installation in the property.
    • The minimum lease period as bank states should be met.
    • The property should have all the necessary permissions from concerned local authorities for commercial usage.
    • Property owner should seek necessary permission from the local authorities to install an ATM at their own cost. The banks provide a layout for the same.
    • The property title, allotment letter, tax receipts, clearance from authorities, approved building plan, and encumbrance certificate should be available with the owner in case it has to be submitted with the bank.

    Details to be submitted for providing space for bank on rent

    There are a few details which must be submitted to gain interest from the bank:

    • Name and contact details of the property owner
    • Contact details of the person(s) to be contacted
    • Particulars of the property to be leased: name of the building, postal address with PIN code, location (commercial, residential or commercial cum residential), present status of building, date for possession of the property, status of proposed construction requirements from bank, boundary details, height and width, sewage details, facilities available, flooring details, AC units, security systems, etc. 
    • Declaration by the property owner

    Once you are past these requirements, it will be easy to rent your property to bank.

    I hope this was helpful.


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  4. Hi,

    My father owns a commercial property and wants to rent it out to a bank for the installation of ATM. However, we were very much confused about, how to rent out commercial property to banks. It was during that time I started looking for renting options and procedures, and I came across these afore-mentioned solutions.

    I would like to extend my gratitude to all these above solutions which gave us an idea. We would like to thank Mr. Pranjal Saini’s answer about commercial space for bank ATM. He mentioned that the ceiling should be made of concrete, for a B-set setup. Hence, we took our first step regarding the construction of the concrete ceiling.

    As Nimish said, keep a watch out for newspaper advertising. I did that for a month until I came across an advertisement for XYZ bank's ATM installation space. I also took Gauri madam’s advice to get in touch with the regional manager of the bank. Hence. I visited the manager and submitted all the documents required for verification. Ultimately after a month, the bank rented our property for installing ATM.

    We were relieved and would like to extend thanks to all the above solutions for how to rent out commercial property to banks.

    Post your property for free and find tenants right now.

    Read More:

    How To Rent Out Property To Bank?


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