Agreement for Sale of Immovable Property

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.