A spirited partnership between captain Rashpal Dhillon (50) and Niroy Sumeran (43) got the Indians back on track and put them in control of the game.
But when the partnership broke at 110/5, the wheels fell off and the Geyser 1 bowlers tore through the tail, bowling the Indians all out for 146 in 39 overs.
"It was the biggest and most spectacular feeling I have ever come across on a cricket field," Geyser 1 captain Matt Collier said.
He said past players attended the final to witness the club win their first post-Christmas final in six attempts.
The players dedicated the season to their old teammate and friend Graeme Kirk, who died last year and Collier said it was great to be able to perform so well this season in honour of his memory.
He said that after posting 164, they had plenty of belief they could defend the score.
"Our strength the whole year has been the bowling and our energy in the field," he said.
After a great start from the bowlers, Geyser 1 dropped a few catches and put themselves under pressure.
It got to the stage where the Indians needed about 55 runs to win and they still had six wickets in hand.
"We were getting a little bit frustrated," Collier said. "The bowlers were making chances and catches were being dropped.
"I needed a wicket and I turned back to Dave Cheater. He broke the partnership and that was what we needed to do."
The key wicket of Sumeran was caught by wicketkeeper Mitch Farnell.
A few overs later captain Dhillon was removed by Hayden Mitchell and the wickets began to tumble.
