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Agreement for Sale — Detailed

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This deed names two sides. Only what AGREEMENT FOR SALE actually prints is asked for here.

SELLER

Full name*

Father's or husband's name*Printed after த/பெ. or க/பெ.

Aadhaar number*

Address*

BUYER

Full name*

Father's or husband's name*

Aadhaar number*

Address*

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This documentDrafting fee: ₹800
Stamp paper₹100: ₹120
Extra pages4 sheets · ₹50 past the first: ₹150
Stamp duty1% · Govt of TN: ₹0
ServiceStandard: ₹450
GST18% on our fee: ₹256
Total: ₹1,776

Clauses generated

133

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AGREEMENT FOR SALE

This AGREEMENT FOR SALE (“Agreement”) is made and executed at Chennai on this ______________________________ (“Execution Date”),

BY AND BETWEEN

Mr. ______________________________, S/o. ______________________________, aged ___ years holding Aadhaar No. ______________________________ and PAN __________________________ residing at ______________________________ hereinafter referred to as the “SELLER/VENDOR” (which expression shall, unless repugnant to the context or meaning thereof, be deemed to mean and include his legal heirs, executors, administrators, legal representatives and assigns) of the ONE PART;

AND

Mr. ______________________________, aged ___ years, holding PAN __________________________ and Aadhaar No. ______________________________; and Mrs. __________________________ B, Wife of ______________________________ aged ___ years, holding PAN __________________________ and Aadhaar No. ______________________________, both residing at ______________________________ hereinafter jointly and severally referred to as the “BUYERS/PURCHASERS” (which expression shall, unless repugnant to the context or meaning thereof, be deemed to mean and include their respective legal heirs, executors, administrators, legal representatives and permitted assigns) of the OTHER PART.

The Seller and the Buyers are hereinafter collectively referred to as the “Parties” and individually as a “Party”.

The Buyers shall jointly purchase the __________________________ Property and shall hold the same in equal shares, i.e., 50% (fifty per cent) undivided right, title and interest each.

WHEREAS the Seller is the absolute and lawful owner of undivided share of land admeasuring __________________________ sq.ft. out of a total extent of __________________________ comprised in Survey No __________________________ Survey No __________________________ Survey No. __________________________ (Survey No __________________________ as per sub-division) and Survey No __________________________ (Survey No __________________________ as per sub-division), situated at __________________________ Village, __________________________ Taluk, __________________________ District (now known as No. 61, __________________________ , __________________________ Nagar, __________________________ West, Chennai – __________________________ ), together with a residential flat bearing Flat No. __________________________ on the Second Floor of B-Block in the apartment complex known as “Sunstone Apartments”, having a super built-up area of about 1,__________________________ sq.ft. (including 22% common area), together with a covered car parking space bearing No: __________________________ in the stilt floor of B-Block, with all rights, amenities, fittings and appurtenances thereto, more fully described in the Schedule of Property hereunder (“__________________________ Property”), having purchased the undivided share of land under a registered Deed of Sale dated ______________________________ registered as Document No __________________________ of __________________________ on the file of the Sub-Registrar, __________________________ and having got the said flat constructed pursuant to a Builders Agreement dated ______________________________ entered into with M/s. __________________________ & Ramesh Builders;

AND WHEREAS the Seller represents that he is in lawful, peaceful and uninterrupted possession and enjoyment of the __________________________ Property and that the same is free from all encumbrances, charges, liens, mortgages, attachments, claims, litigation, acquisition proceedings and third-party rights whatsoever, save and except such as may be specifically disclosed by the Seller to the Buyers in writing prior to execution hereof.

AND WHEREAS the Seller is desirous of selling the __________________________ Property and the Buyers, being husband and wife, are desirous of jointly purchasing the same, in equal shares of 50% (fifty per cent) each, for their own use and benefit;

AND WHEREAS the Parties have agreed that the total sale consideration for the __________________________ Property shall be Rs. __________________________ /- (Rupees __________________________ only);

AND WHEREAS the Buyers have, on or before the execution of this Agreement, paid to the Seller a sum of Rs. __________________________ /- (Rupees __________________________ only) as advance/earnest money, the payment and receipt whereof the Seller hereby acknowledges, and the Parties have agreed that the balance sale consideration of Rs. __________________________ /- (Rupees __________________________ only) shall be paid by the Buyers to the Seller on or before ______________________________.

AND WHEREAS the Parties have agreed that the Seller shall execute and register the absolute Sale Deed in respect of the __________________________ Property in favour of the Buyers upon receipt of the entire balance sale consideration and fulfilment of the other terms and conditions recorded herein;

NOW THEREFORE, THIS AGREEMENT __________________________ AND THE PARTIES HERETO AGREE AS FOLLOWS:

OPERATIVE CLAUSES

1. Agreement to Sell

The Seller hereby agrees to sell, and the Buyers hereby agree to jointly purchase, the __________________________ Property, free from all encumbrances, for the total sale consideration of Rs. __________________________ /- (Rupees __________________________ only), on the terms and conditions contained in this Agreement.

2. Sale Consideration

The total sale consideration agreed between the Parties for the sale of the __________________________ Property is Rs. __________________________ /- (Rupees __________________________ only), payable in the manner set out in Clauses 3 and 4 below.

3. Advance Payment

The Buyers have paid to the Seller, and the Seller hereby acknowledges receipt of, a sum of Rs. __________________________ /- (Rupees __________________________ only) as advance/earnest money towards the sale consideration, paid on ______________________________ by way of Cheque bearing instrument no.__________________________ Bank : __________________________ Bank, __________________________ Nagar Branch

4. Balance Payment

The Buyers shall pay to the Seller the balance sale consideration of Rs. __________________________ /- (Rupees __________________________ only) on or before ______________________________, or earlier, by way of demand draft/pay order/__________________________ /__________________________ transfer to an account designated by the Seller in writing, time being of the essence of this Agreement.

5. Deduction of Tax at Source (TDS)

Since the total sale consideration exceeds Rs. __________________________ /- (Rupees __________________________ only), the Buyers shall, at the time of credit or payment of the sale consideration (or any part thereof), whichever is earlier, deduct income-tax at source under Section 393(1) of the Income-tax Act, __________________________ (currently at 1% of the sale consideration, or such other rate as may be prescribed and in force on the date of payment) and shall remit the amount so deducted to the credit of the Central Government within the time prescribed under the Income-tax Act, __________________________ by filing Form No: __________________________

The Buyers shall furnish to the Seller the TDS certificate in Form No. 132 within the time prescribed under the Income-tax Act,__________________________ The amounts payable by the Buyers to the Seller under Clauses 3 and 4 above shall stand reduced to the extent of the tax so deducted at source, and the Seller shall have no claim against the Buyers in respect of any amount so deducted and remitted in accordance with law. Each Buyer shall deduct and remit TDS in proportion to his/her respective 50% share of the sale consideration, unless the Parties otherwise agree and confirm in writing.

6. Execution and Registration of Sale Deed

Upon receipt of the entire balance sale consideration in terms of Clause 4 above (net of TDS deducted under Clause 5) and upon the Buyers otherwise complying with their obligations under this Agreement, the Seller shall execute and register an absolute Sale Deed conveying the __________________________ Property in favour of the Buyers in equal shares of 50% (fifty per cent) each, before the concerned Sub-Registrar having jurisdiction, within a reasonable time not exceeding 30 (thirty) days of receipt of the entire balance consideration, or on/before ______________________________, whichever is later, unless otherwise mutually agreed in writing.

7. Title Verification

The Buyers and/or their advocate shall be entitled, within from the date of this Agreement, to inspect and verify the Seller’s title, the parent documents and other records relating to the __________________________ Property. The Seller shall extend full co-operation and make available all relevant original documents for such verification.

8. Delivery of Original Documents

The Seller shall hand over to the Buyers all original title deeds, parent documents, tax receipts and other documents of title relating to the __________________________ Property in his possession, at the time of registration of the Sale Deed, or at such earlier stage as may be mutually agreed, subject to any documents genuinely required to be retained for other flats/co-owners under the common Builders Agreement being made available in copy with an undertaking to produce the originals when required.

9. Possession

No instructions have been received as to when vacant, peaceful possession of the __________________________ Property will be handed over to the Buyers. Unless otherwise agreed in writing, it is recorded that possession shall be delivered by the Seller to the Buyers simultaneously with, or within a reasonable time after, execution and registration of the Sale Deed and receipt of full sale consideration, and not on the date of this Agreement.

10. Encumbrances

The Seller shall, at his own cost, clear/discharge any encumbrance, charge, mortgage, lien or liability whatsoever affecting the __________________________ Property, whether disclosed or undisclosed, existing as on the date of registration of the Sale Deed, and shall keep the Buyers indemnified in respect thereof.

11. Taxes and __________________________

All property tax, electricity charges, water/sewerage charges, maintenance charges payable to the association/M/s. Sunstone Apartment Owners Association and other statutory or local-authority dues in respect of the __________________________ Property up to and including the date of handing over of possession shall be borne and paid by the Seller. All such dues accruing from and after the date of possession shall be borne by the Buyers. The Seller shall produce paid-up receipts/no-dues certificates for all such outgoings up to the date of possession, at the time of registration.

12. Stamp Duty and Registration __________________________

The stamp duty, registration fees and all other incidental costs and expenses for the preparation, stamping and registration of the Sale Deed shall be borne and paid entirely by the Buyers.

13. Default by Buyers

If the Buyers commit default in payment of the balance sale consideration within the time stipulated in Clause 4, and such default continues for a further period of 30 days after written notice from the Seller calling upon the Buyers to make payment, the Seller shall be entitled, at his option and subject to applicable law, to either (a) forfeit the advance of Rs. __________________________ /- and terminate this Agreement, or (b) sue for specific performance together with damages, or (c) grant further time on such terms as may be mutually agreed. Any forfeiture shall be reasonable and proportionate and subject to the provisions of the Indian Contract Act, __________________________ and the Specific Relief Act, __________________________ as applicable.

14. Default by Seller

If the Seller, despite the Buyers being ready and willing to perform their obligations under this Agreement (including tender of the balance sale consideration), fails or refuses or neglects to execute and register the Sale Deed in favour of the Buyers, or otherwise commits breach of this Agreement, the Buyers shall be entitled, at their option, to (a) seek specific performance of this Agreement together with damages, or (b) terminate this Agreement and claim refund of the entire advance of Rs. __________________________ /- together with reasonable damages/compensation as may be determined in accordance with law, or (c) pursue such other remedies as may be available under applicable law.

15. Specific Performance

Nothing contained in this Agreement shall be construed to derogate from or limit either Party’s right to seek specific performance of this Agreement, or any other relief or remedy available to it under the Specific Relief Act, __________________________ or any other applicable law, in the event of breach by the other Party.

16. Indemnity

The Seller shall keep the Buyers fully indemnified and held harmless against any loss, cost, damage, claim or liability suffered or incurred by the Buyers on account of any defect in the Seller’s title, any undisclosed encumbrance, charge, claim or lien, or any misrepresentation or suppression of material fact by the Seller in relation to the __________________________ Property.

17. Further __________________________

Each Party shall, at the request and cost of the other Party (unless otherwise agreed), execute all such further deeds, documents and writings and do all such acts and things as may be reasonably necessary to give full effect to this Agreement and to complete the sale transaction contemplated herein, including any documents required by the builder/association of Sunstone Apartments or statutory authorities.

18. __________________________

All notices, demands or other communications required or permitted to be given under this Agreement shall be in writing and shall be deemed to have been duly given if delivered by hand, registered post with acknowledgment due, or reputed courier, or e-mail (with proof of delivery), to the Seller at No. 11, __________________________ Street, __________________________ Nagar, __________________________ Tamil Nadu – __________________________ and to the Buyers at __________________________ 4, Sunstone Apartment, __________________________ Nagar, Ana Avenue, __________________________ West, Chennai – __________________________ or at such other address as either Party may notify to the other in writing from time to time.

19. Dispute Resolution / Jurisdiction

The registration jurisdiction and Sub-__________________________ office for the __________________________ stated as North Chennai Registration District, __________________________ Sub-Registration District; this should be reconfirmed against current jurisdictional records at the time of registration. Subject to the foregoing, the Parties agree that this Agreement shall be governed by and construed in accordance with the laws of India, and that the courts/fora at Chennai, Tamil Nadu shall have exclusive jurisdiction over any dispute arising out of or in connection with this Agreement, without prejudice to the Parties’ right to refer disputes to arbitration or mediation if mutually agreed in writing.

20. Entire Agreement

This Agreement constitutes the entire agreement between the Parties in relation to its subject matter and supersedes all prior discussions, negotiations, understandings or agreements, whether oral or in writing, between the Parties relating thereto.

21. Amendment

No amendment, modification or waiver of any provision of this Agreement shall be valid or binding unless made in writing and duly signed by all the Parties hereto.

__________________________ REGISTRATION

The Seller further undertakes and agrees that, from the date of this Agreement until registration of the Sale Deed, he shall:

(a) maintain the __________________________ Property in substantially the same condition as on the date of this Agreement, ordinary wear and tear excepted;

(b) not create, permit or suffer to be created any mortgage, charge, lien, lease, licence, tenancy, gift, or other third-party interest whatsoever over the __________________________ Property or any part thereof;

(c) not sell, transfer, convey or otherwise deal with the __________________________ Property or any part thereof or interest therein with any person other than the Buyers;

(d) forthwith disclose to the Buyers in writing any material litigation, notice, acquisition proceeding or governmental/statutory proceeding affecting the __________________________ Property that comes to his knowledge;

(e) clear all outgoings and liabilities relating to the __________________________ Property as agreed under Clause 11 above; and

(f) produce and make available all original documents of title reasonably required by the Buyers for title verification and for registration of the Sale Deed.

TERMINATION / CANCELLATION

This Agreement may be terminated in the following circumstances, subject to applicable law:

(a) Buyer’s Default: If the Buyers fail to pay the balance sale consideration as stipulated in Clause 4 and fail to cure such default within the notice period referred to in Clause 13, the Seller may terminate this Agreement in accordance with Clause 13. In such event, the advance of Rs. __________________________ /- may be forfeited by the Seller only to the extent reasonable and proportionate to the loss actually suffered, and subject to applicable law; it shall not be treated as an automatic or punitive forfeiture.

(b) Seller’s Default: If the Seller fails or refuses to complete the sale despite the Buyers being ready and willing to perform, the Buyers may terminate this Agreement in accordance with Clause 14, in which event the Seller shall refund the entire advance of Rs. __________________________ /- together with such compensation/damages as may be agreed or determined in accordance with law.

(c) Material Defect in Title: If, upon verification under Clause 7, a material and irremediable defect in the Seller’s title is discovered which the Seller is unable to cure within a reasonable time, the Buyers may terminate this Agreement, and the Seller shall refund the entire advance of Rs. __________________________ /- (and any part-payment made) without any deduction.

(d) Failure to __________________________ Agreed Conditions: If any condition precedent to registration set out in this Agreement is not fulfilled for reasons not attributable to either Party, the Parties may mutually agree to extend time or terminate this Agreement, in which case the advance shall be refunded in full unless otherwise agreed.

(e) Mutual Cancellation: This Agreement may be cancelled at any time by mutual consent of the Parties recorded in writing, on such terms regarding refund of the advance as the Parties may agree at that time.

IN WITNESS WHEREOF

the Parties hereto have set their respective hands to this Agreement on the day, month and year first above written, in the presence of the following witnesses.

SELLER

Name: Mr. V. __________________________