THIS AGREEMENT FOR SALE made at ___________this ________ day
of ___________ in the Christian Year Two Thousand _______ BETWEEN ABC of
____________, Indian Inhabitant, having address
at _____________________________________________________________, hereinafter
called “THE VENDOR” (Which
expression shall unless repugnant to the context or meaning thereof be deemed
to include his heirs, executors and administrators) of the One Part; AND M/s. XYZ
& CO., a partnership firm having its office at _____________________
____________________________________________________________ hereinafter called
“THE PURCHASERS” (which expression shall unless repugnant to the context or
meaning thereof mean and include the partners or partner for the time being of
the firm, the survivors or survivor of them and the heirs, executors and
administrators of the last surviving partner and their/his/her assigns) of the
Other Part;
WHEREAS:—
(a) The
Vendor is seized and possessed of and
otherwise well and sufficiently entitled to all that piece and parcel of land
here determents and premises situate at __________________
__________________________________ bearing C.T.S./C.S. No. __________ together
with building thereon known as “AAVISHKAR” and more particularly
described in the Schedule hereunder written and delineated on the plan
thereof hereto annexed and thereon shown surrounded by red colored boundary
line (hereinafter collectively called “the said property”);
(b) The
said property consists of ground floor and two upper floors and which is
entirely in possession of the Vendor.
(c) The
Vendor has agreed to sell and the Purchasers have agreed to purchase the said
property at or for the price of
Rs. _____________ (Rupees _____________________________ only) upon the terms
and subject to the conditions hereinafter appearing.
NOW THIS AGREEMENT WITNESSETH AND IT IS HEREBY AGREED BY AND
BETWEEN THE PARTIES HERETO as follows:—
1. The
Vendor shall sell and the Purchasers shall purchase all and singular the said
land here determents and premises together with building known as “AAVISHKAR”
standing thereon situate at ______________________________________ and
delineated on the plan thereof hereto annexed being thereon shown surrounded by
red colored boundary line and more particularly described in the Schedule
hereunder written with their appurtenances, free from all encumbrances, at or
for the price of Rs. ______________/- (Rupees _______________________).
2. The
aforesaid amount of Rs. _____________/- (Rupees _________________________ only)
as the price of the said property shall be paid by the Purchasers to the Vendor
in the manner following that is to say:—
(a) Rs.
_____________/- (Rupees __________________ only) as deposit or earnest money
shall be paid on or before the execution of these presents (the payment and
receipt whereof the Vendor doth hereby admit and acknowledge); and
(b) Rs.
_____________/- (Rupees ___________________ only) the balance of the sale price
shall be paid within three months from the date hereof on completion of the
sale as hereinafter provided. Time for payment of the said amount shall be the
essence of the contract as provided herein.
3. The
said property is fully constructed and no permission from Competent Authority under
the provisions of Urban Land (Ceiling & Regulation) Act, 1976 is required
for sale and transfer of the said property.
4. The
area of the property is _________ sq.mts. according to the documents of title and/or Government Records
and the same shall be taken as correct and accepted by the Purchasers. The
price of the said property has been agreed to between the parties on a lump sum
basis without any reference to the said area and if the said area is ultimately
found to be more or less the same shall not be a ground for any increase or
decrease in the price or for rescinding this Agreement.
5. The
Vendor shall within a period of seven days from the date of the execution of
this agreement, hand over to the Purchasers’ Advocates and Solicitors all
original documents and title deeds relating to the said property in exchange of
an accountable receipt of the Purchasers’ Advocates for enabling the
Purchasers’ Advocates and Solicitors to investigate the Vendor’s title to the
said property. The Purchasers shall administer requisitions to the Vendor
within a period of two months from the date of receipt of such original
documents and title deeds and if within the said period of two months no
requisitions are received by the Vendors, the Vendors shall presume that the
Purchasers have accepted the Vendor’s title to the said property and the
Purchasers shall not be entitled to administer any requisition on title of the
Vendor to the
said property.
6. The
Vendor shall make out a marketable title to the said property free from all
encumbrances, doubts and claims and shall at his own costs and expenses get in
all outstanding estates and clear all defects in the title encumbrances and
claims by way of sale exchange, mortgage, gift, trust, inheritance, possession
lease, lien, easement or otherwise.
7. The
sale will be completed within a period of three months from the date hereof time being the essence
of contract, in the following manner:—
(a) The
Purchasers shall make payment of balance consideration amount to the Vendor as
provided in
Clause 2(b) above;
(b) Handing
over of vacant and peaceful possession of the said property by the Vendor to
the Purchasers as Owners thereof;
(c) The
Vendor shall deliver to the Purchasers all title deeds, documents and papers
exclusively relating to the said property in his possession;
(d) The
Vendor shall execute and deliver to the Purchasers or their nominee or nominees
such Conveyance/Assignment document or documents or assurances as may be
required for effectuating a proper transfer of the said property to the names
of the Purchasers or their nominee or nominees and in the latter event the
Purchasers shall join in the execution of such document or documents as
confirming parties; and
(e) The
Vendor shall execute a suitable and General Power of Attorney in favour of the Purchasers and/or their
nominees to deal with the said property as full owners thereof including
appointing Architects, preparing and submitting building and other plans for
development of the said property making representations to and appearing before
various authorities to make, sign, deliver and carry on correspondence,
applications, writings, undertakings, affidavits and to negotiate with the existing tenants
etc. The said Power of Attorney will be valid only for a period of eight months
to enable the Purchasers and/or their
nominees to effectively transfer the said property in their favor.
8. The
Vendor hereby declares and confirms as under:—
(a) The
Vendor is otherwise well and sufficiently entitled to the said property
described in the Schedule hereunder written and the same is his self acquired
property. His title to the said property is free and marketable.
(b) No
other person except the Vendor has any right, claim or demand in respect of the
said property or any part thereof.
(c) The
Vendor has not created any sale, gift, mortgage, charge, lien, lease or any
other adverse right or any other encumbrance whatsoever or howsoever on the
said property and the said property is not subject to any claim or demand,
encumbrance, attachment or any process issued by any Court or Authority and the
Vendor hereby declares that he shall hereafter not create any third
party rights of whatsoever nature in respect of the
said property.
(d) The
Vendor has not entered into any agreement or arrangement, oral or written with
regard to the sale of the said property; and
(e) There
are no proceedings instituted by or against the Vendor in respect of the said
property and pending in any Court or before any authority and the said property
is not under any lispendens.
9. The
Vendor further declares that no notices including any notice for acquisition,
requisition or set back by the Government Central or State or by the Municipal
Corporation of Greater Mumbai or any other local, or public body or authority
in respect of the said property have been issued to served upon or received by the Vendor or
his agent or any person on his behalf and that all previous notices and
requisitions have been duly complied with by the Vendor.
If any such notices other than a notice for acquisition, requisition or
set-back is hereafter issued to, served upon
or received by the Vendor or any person on his
behalf in respect of the said property before the completion of the sale
herein, the Vendor shall forthwith give notice thereof to the Purchasers and
shall comply with the same at his own costs and expenses. If before the completion of the sale herein
any notice for requisition or set-back is issued to, received by or served upon
the Vendor, it shall be at the option of the Purchasers to determine this
Agreement and upon such determination of this Agreement the Vendor shall forthwith return to the
Purchasers the earnest money but without interest and each party shall bear and
pay all costs of and incidental to the sale incurred by them upto the date of
such determination. If the Vendor shall
have willfully concealed any notice issued, served or received as aforesaid the
Purchasers will be entitled to all costs charges and expenses of and incidental
to the Agreement for sale incurred by them upto the date of such
determination. If any notice is issued,
published served by Government or any local or public authority for acquisition
of the said property or any part thereof (for any party other than the Purchasers)
this Agreement shall at the option of the Purchasers to be exercised within 30
days of the knowledge of such notice be null and void and the vendor shall
thereupon forthwith return to the Purchasers the earnest money and all other
moneys received hereunder but without interest and each party will bear and pay
their own costs charges and expenses.
10. In the
event of the sale not being completed due to any willful default on the part of
the Vendor, the Purchasers shall have the right to require specific performance
by the Vendor of
this Agreement.
11. In the
event of the sale not being completed due to any willful default on the part of
the Purchasers, the Vendor shall have the right to require specific performance
by the Purchasers of this Agreement or alternatively to forfeit the earnest
money and to require the Purchasers to pay to the Vendor the costs incurred by
the Vendor from the commencement of the negotiations of the sale of the said
property till the date of the cancellation by the Vendor of this Agreement but
no further or other damages shall be paid by the Purchasers.
12. The
Vendor shall pay all assessments, rents, rates, taxes and out goings in respect
of the said property previous to the day of handing over possession and the
completion of the sale and the same, if necessary, shall be apportioned between
the Vendor and the Purchasers.
13. The
stamp-duty, registration charges and all other out of pocket expenses payable
on this deed and on the Deed of Conveyance shall be borne and paid by the
Purchasers alone and each party shall bear and pay their own expenses including
their own Advocates professional fees.
IN WITNESS WHEREOF the parties
hereto have executed these presents and a duplicate hereof the day and year
first hereinabove written.
THE SCHEDULE ABOVE REFERRED TO:
ALL THAT plot of land together
with structures/building standing thereon bearing Survey No. ______,
C.T.S./C.S. No. ________ and ________ admeasuring approx. ______ sq.yds
equivalent to ______ sq.mtrs situate at
__________________________________________ in the village ________, Taluka
___________, in the Registration Sub-district of ________________, District and
bounded as follows:
On or towards EAST:
On or towards WEST:
On or towards SOUTH:
On or towards NORTH:
SIGNED AND DELIVERED BY THE )
Within named VENDOR ABC, )
in the presence of )
SIGNED AND DELIVERED BY THE )
Within named PURCHASERS )
M/S. XYZ & CO. by the hand
of its )
partners _________________________, )
in the presence of )
1.
2.
RECEIPT
RECEIVED the day and year first
herein above written of and from the within named Purchasers the sum of Rs. ______________/- (Rupees
____________________ only) by Cheque No.__________ dated __________ being the
amount of the earnest money or deposit as within mentioned agreed to be paid by
them to me.
WITNESSES: Rs.____________________/-
1.
2.
I
SAY RECEIVED
(ABC)
VENDOR
NOTE:-
(a) If the property is open land or surplus land in that event
permission from the Competent Authority under The Urban Land (Ceiling &
Regulation) Act, 1976 will be required.
(b) If the Vendor is a Public Trust in that event permission from the Charity Commissioner under The Bombay
Public Trust Act, 1950 will be required.
(c) The necessary provision in respect of (a) and/or (b) above should
be made in the agreement.
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