AGREEMENT FOR SALE OF FLAT BY A FLAT PURCHASER, WHEN CO-OPERATIVE SOCIETY HAS NOT BEEN FORMED AND FLAT IS NOT READY

AGREEMENT FOR SALE OF FLAT BY A FLAT PURCHASER, WHEN CO-OPERATIVE SOCIETY HAS NOT BEEN FORMED AND FLAT IS NOT READY

THIS AGREEMENT made at  ....................  this ........... day of    ..............., 2000, between A, son of ....................... resident of ........................... hereinafter referred to as the 'Transferor" of the FIRST PART, B, son of  ................. resident of ...........................  hereinafter referred to as the "Transferee" of the SECOND PART and M/s ABC Constructions, a partnership firm, having its office at                                   .......................... hereinafter referred to as the Confirming Party of the THIRD PART.

WHEREAS by an Agreement dated ................... made between M/s. ABC Constructions, therein referred to as the Builders and, hereinafter referred to as the Confirming Party of the ONE PART and the Transferor therein referred to as the flat Purchaser of the OTHER PART, the Confirming Party has agreed to sell and the transferor has agreed to purchase one flat bearing No. ............... on the    ................ floor in the building, being constructed by the Confirming Party on the piece of land bearing Plot No. ............... situated at.......................................................... and more particularly described in the Schedule 1 to the said agreement being the same as described in the Schedule 11 hereunder written;

AND WHEREAS the agreement between the Confirming Party and the transferor, hereinafter referred to the said agreement, has been duly registered under the Registration Act, 1908 as required under the .............. Ownership Flats Act, ……….

AND WHEREAS the transferor has agreed to assign his rights and benefits under the said agreement to the transferee and the transferee has agreed to purchase the same on the terms and conditions hereinafter contained;

AND WHEREAS the confirming party has informed transferor that the flat will be ready by .................... and he has no objection in the transfer of the said agreement by the transferor and the transferee and has agreed to join as the Confirming Party to these presents.

NOW THIS AGREEMENT WITNESSETH AND IT IS HEREBY AGREED BETWEEN THE PARTIES HERETO AS FOLLOWS:

1. In pursuance of the said agreement and in consideration of the sum of Rs. ............... paid at the time of these presents (the receipt whereof the said transferor does hereby acknowledge and admit), the transferor assigns to the transferee all his rights, benefits and interest to purchase the flat No                      ........................ on the  ............... floor in the building under construction on the piece of land described in Schedule 1 hereunder written, under the said Agreement between the Confirming Party and the transferor.

2. The transferor hereby declares that the said agreement is valid and subsisting and he has not assigned the benefit of the said agreement to any person.

3. The transferee will be entitled to all the rights, benefits and interest belonging to and available to the transferor under the said agreement.

4. The Confirming Party hereby agrees and declares that he shall hand over the possession of the fiat to the transferee, as soon as it is ready and the transferor will be entitled to the amounts deposited by the transferor with the Confirming Party under the said Agreement and the transferee shall be given the shares in the Co-operative Society of the flat owners in respect of the flat, as and when the Society is registered.

5. The transferor declares that he will have no interest, right and benefits in the said agreement and in the flat to be acquired by virtue of the said agreement.

6. The transferee has satisfied himself about the rights of the Confirming Party about the sale of the flat to the transferor and the building plans and he shall not be entitled to raise any objection about the right of the Confirming Party or the building plans in future.

7. The transferee agrees and undertakes to be bound by the liabilities and obligations of the transferor under the said agreement.

IN WITNESS WHEREOF the parties hereto have put their respective hands the day and year hereinabove written.

The First Schedule above referred to

The Second Schedule above referred to

Signed and delivered by the within named transferor A

Signed and delivered by the within named transferee B

Signed and delivered by the within named Confirming Party

M/s. ABC Constructions through its partners

(1)           ; (2)            ; (3)               ;.

WITNESSES;

1.

2.

AGREEMENT FOR SALE OF AN APARTMENT

AGREEMENT FOR SALE OF AN APARTMENT

THIS AGREEMENT made at ....................... this .............. day of .............., 2000  between A, son of .............................. resident of ........................ hereinafter referred to as the Vendor of the ONE PART and B, son of                 ................... resident of     .................... hereinafter referred to as the Purchaser of the OTHER PART.

WHEREAS the Vendor is absolutely seized and possessed of the land bearing Plot No............................ situated at ………………….................. and hereinafter referred to as the said land and more particularly described in the Schedule 1 hereunder written;

AND WHEREAS the Vendor proposes to develop the said land and for that purpose obtained permission of the Competent Authority under section   ........... of the Urban Land (Ceiling and Regulation) Act vide his Order No      ......................... dated  .......................;

AND WHEREAS the Vendor has submitted the building plans to the .................... Municipal Corporation, which have been approved by the .................... Municipal Corporation vide letter No   ............................ dated  ............. subject to certain conditions laid down in the said letter;

AND WHEREAS the Vendor has started the construction of the buildings as per the building plans approved by the .................... Municipal Corporation enclosed herewith at Annexure 1;

AND WHEREAS the Vendor has agreed to sell one apartment on the ............... floor in the building No................. being constructed and having the specifications mentioned in the Schedule 11 hereunder written at a price of Rs          ................... (Rupees   ................................. subject to the terms and conditions hereinafter appearing.

AND WHEREAS the Purchaser has inspected the documents relating to the land, the order of the Competent Authority, site plans approved by the .................... Municipal Corporation and is satisfied about the Vendor's title to the said property and the site plans of the proposed buildings;

AND WHEREAS the title of the Vendor to the said property has been certified to be clear, marketable and free from encumbrances by M/s. ................................. Solicitors and Advocates................... and a copy of the said title certificate is hereto annexed at Annexure II ;

AND WHEREAS the Vendor has agreed to sell and the Purchaser has agreed to purchase the Apartment No……………..on the............. floor in the building No....................  hereinafter referred to as the said Apartment on the following terms and conditions.

NOW THIS AGREEMENT WITNESSETH AND IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES AS FOLLOWS:

(1)          The Vendor shall construct the said building on the said plot of land, more particularly described in the Schedule 1, in accordance with the plans, designs and specifications approved by the .................... Municipal Corporation and which have been seen and approved by the Purchaser and kept by the Vendor at the office of M/s. ...................... Architects at .........................  for inspection. The Vendor shall be entitled to make such variations and modifications as he may consider necessary or as may be required by the .................... Municipal Corporation of the Government of …………….. or any local authority.

(2)          The Vendor agrees to sell and the Purchaser agrees to purchase the Apartment No..........................  on ........... floor in the building No        ................  of Carpet Area admeasuring .............  sq. metres as delineated on the plan thereof hereto annexed and marked Annexure Ill and thereon shown surrounded by green coloured boundary line at or for a sum of Rs                   ...........   (Rupees .........................    ). The Purchaser agrees that out of the said amount of Rs ................... to be paid by him to the Vendor, a sum of Rs............ has been paid by the Purchaser to the Vendor on the execution of these presents (the payment and receipt the Vendor doth hereby admit and acknowledge) and the balance will be paid by instalment as follows:

1.  Rs  ..........................     on or before          ..........................

2.  Rs  ..........................     on or before          ..........................

3.  Rs  ..........................     on or before          ..........................

4.  Rs  ..........................     being the final balance on the delivery of

the apartment by the Vendor to the purchaser.

the amounts payable under these presents are not paid within the time stipulated, the Purchaser will be liable to pay interest at the rate of 18% per annum from the due date of payment to the date of payment.

(3)          The Vendor shall deliver the possession of the apartment to the Purchaser on or before  ...................   day of  ..............., 2000.  The vendor shall obtain the completion and occupation certificate in respect I the said apartment from the .................... Municipal Corporation. The purchaser shall take possession of the apartment within one week of ) a receipt of the notice of the Vendor to the Purchaser that the said apartment is ready for use and occupation and that the completion certificate and occupation certificate has been obtained from the .................... Municipal Corporation;

Provided that the Vendor shall be entitled to reasonable extension time for delivery of possession of the Apartment on the aforesaid ate, if the completion of the said building is delayed on account of non- availability of steel, cement, other building material, water or electric supply or on account of war, civil commotion or act of God or any notice, order, rule, notification of the Government, .................... Municipal Corporation and/or other public or competent authority or on account of non-issue of building completion or occupation certificate - water or electricity connection or on account of any order of any Court affecting the construction work of the building. he Vendor will deliver the possession of the apartment to the Purchaser only if the Purchaser has paid all the amounts payable by him under this Agreement to the Vendor and if he has duly observed and performed all obligations and stipulations contained in this Agreement and on his part to be observed and performed.

(4)          The Purchaser hereby declares and undertakes that he shall have no claim, save and except in respect of the said Apartment hereby agreed to be purchased by him and the Vendor shall continue to be entitled to the property in all the structures on the said land, open spaces, parking places, lobbies, staircases, lifts, terrace, etc., until all the apartments are transferred to the purchasers and the Declaration of Deeds of Apartment is executed and the condominium is formed as provided in the ………….. Apartment Ownership Act.

(5)           Till the Purchaser takes the possession of the Apartment, the Purchaser shall be liable to pay a sum of Rs   . ................. per month as his share on account of rates, taxes, assessments, dues, duties and impositions of any kind or nature whatsoever in respect of the said land or the building constructed thereon or any part thereof payable to the Government of ...................., .................... Municipal Corporation or any other authority and wages of watchmen, sweepers, mali, and other expenses of common benefit. After the Purchaser takes the possession of the Apartment, he shall be liable to contribute proportionate share for common expenses as aforementioned, as decided by the Association of the Apartment Owners from time to time.

(6)          The Vendor agrees that he shall comply with the provisions of section 10 of the .................... Ownership Flats (Regulation of the Promotion of Construction, Sale, Management and Transfer) Act, 1963 (hereinafter referred to as the .................... Apartment Ownership Flats Act, 1963) and the .................... Apartment Ownership Act, 1970 and shall execute a Declaration as provided by section 11 of the .................... Apartment Ownership Act, 1970 and register it with the Registering Officer under Indian Registration Act and the Purchaser hereby agrees that he shall join and form an association of all the apartments in the said building as contemplated by the .................... Apartment Ownership Act.

(7)          The Vendor shall convey and assign all rights, title and interest in each apartment to each purchaser after the completion of building and on receipt of all payments, price, deposits payable by the Purchasers to the Vendor in respect of all apartments/car parking spaces and other premises in the said building.

(8)          The Purchaser shall on or before the delivery of possession of the said apartment keep deposited with the Vendor a sum of Rs. ................. towards legal charges, expenses of formation of Association and execution of these presents and other documents a required to be executed. The Purchaser shall also be liable to pay expenses on account of stamp duty and registration charges in respect of the Deed of Apartment.

(9)          Any delay or indulgence on the part of the Vendor in enforcing any of the terms of this Agreement or any forbearance or giving time by the Vendor to the Purchaser shall not be considered as a waiver on the part of the Vendor and he shall be entitled to take action against the Purchaser for the breach or non-compliance of any terms and conditions of this Agreement by the Purchaser.

(10)       The Purchaser shall not be entitled to let, mortgage, create charge or assign the said Apartment, pending the transfer of apartment, to him without the consent of the Vendor in writing. etc.

(11)       The Purchaser shall use the apartment or any part thereof or permit the same to be used only for the purpose of residence and the Purchaser hereby covenants with the Vendor as follows.-

(a) He shall maintain the apartment at his own cost in good tenantable repair and condition from the date of taking over possession of the apartment and shall not do or suffered to be done anything in or to the building in which the apartment is situated, staircase or any passage which may be against the rules, regulations, or bye-laws of .................... Municipal Corporation or any other authority or change/alter or make addition in or to the building in which the apartment is situated and the apartment itself or any part thereof.

(b) He shall not demolish or cause to be demolished the apartment or any part thereof nor at any time make or cause to be made any addition or alteration of whatever nature in or to the apartment or any part thereof.

(c) He shall observe and perform all the rules and regulations which the Association of Apartment Owners may adopt at its inception and the additions, alterations or amendments thereof that may be made from time to time for protection and maintenance of the said building and the apartments therein. The Purchaser shall also observe and perform all the stipulations and conditions laid down by the Association of Apartment Owners regarding the occupation and use of the Apartment in the building and shall pay and contribute regularly and punctually towards the taxes, assessments, dues, duties and impositions, expenses or other outgoings in accordance with the terms of this Agreement.

(13)     The Vendor hereby covenants with the Purchaser as under:-

(a)       Subject to the Purchaser paying all sums payable to the Vendor under this Agreement and performing and observing the terms and conditions of this Agreement, the Purchaser shall be entitled to peaceably hold and enjoy the Apartment without any interference or obstruction by the Vendor on any person claiming under or in trust for the Vendor.

(b)       The Vendor shall maintain a separate account in respect of sums received by the Vendor from the Purchasers of the Apartments as advance or deposit sums received on account of the legal charges and execution of other documents required to be executed, and shall utilise the amounts only for the purposes for which they have been received and after transfer of the said property, the balance amounts shall be paid and transferred by the Vendors to the flat purchasers.

(c)        The Vendor shall pay all outgoings, including ground rent, taxes, assessments, dues, duties, impositions and outgoings upto the date of delivery of the possession to the flat owners and transfer of the building is complete.

(14)       The Deed of Apartment shall be made and executed by the Vendor, and other persons having any right or interest in the said property.

(15)       If before the completion of transfer of the building, the building including the apartment is notified by the Government under the Land Acquisition Act or any other law for the time being in force for acquisition or requisition, the Purchaser shall not be entitled to cancel this agreement and in case of acquisition of the building including the said apartment, the Purchaser shall be entitled to a proportionate part of the compensation if and when awarded by the Government or any other authority. If the said apartment is requisitioned by the Government or any other authority, the Purchaser shall be entitled to the compensation awarded by the requisitioning authority in respect of the apartment.

(16)       This Agreement shall not be construed as a grant, demise or assignment in law of the said apartment or of the said land and building or any part thereof.

(17)       The Purchaser shall execute a Deed of Declaration in the prescribed form along with or prior to the execution of Deed of Apartment to the effect that he submits his apartment to the provisions of the .................... Apartment Ownership Act.

(18)       The Sale of the said Apartment shall be subject to the provisions of .................... Apartment Ownership Act and rules made thereunder.

(19)       The Vendor shall be entitled to construct additional building or buildings in the said land, if any additional Floor Space Index (FSI) becomes available before the completion of the transfer of the said )and with buildings and allowed by the .................... Municipal Corporation and the Vendor shall be authorised to sell the same and the Purchaser will not be entitled to any right, benefit or interest on the same.

(20)       All notices to be served on the Purchaser as contemplated by this Agreement shall be deemed to have been duly served to the Purchaser by Registered Post A.D. at his address specified below:

Viz ......................................

      -------------------------------

    ……………………………

(21)       This Agreement shall be executed in triplicate. The original copy shall be lodged for registration by the Purchaser and the vendor shall admit execution before the Sub-Registrar and the Second and Third copy shall be retained by the Purchaser and vendor respectively. The original copy of this Agreement will be received by the Purchaser from the Registrar as and when ready after registration.

IN WITNESS WHEREOF the parties hereto have hereunto put their respective hands the day and year first hereinabove mentioned.

The Schedule I above referred to

The Schedule II above referred to

Annexure I

Annexure II

Annexure Ill

Signed and delivered by the within named Vendor

Signed and delivered by the within named Purchaser

WITNESSES;

1.

2.

AGREEMENT FOR SALE OF A HOUSE

AGREEMENT FOR SALE OF A HOUSE

THIS AGREEMENT of sale made at .................. on this  .............. day of      ................... 2000,  between A          son of       ..................... resident of    .................. hereinafter called the vendor of the ONE PART and B son of         ............................... resident of      .............................. hereinafter called the purchaser of the OTHER PART.

WHEREAS the vendor is absolutely seized and possessed of or well and sufficiently entitled to the house more fully described in the Schedule hereunder:

AND WHEREAS the vendor has agreed to sell his house to the purchaser on the terms and conditions hereafter set-forth.

NOW THIS AGREEMENT WITNESSETH AS FOLLOWS

(1) The vendor will sell and the purchaser will purchase that entire house No....................... Road    ...................... more particularly described in the Schedule hereunder written at a price of Rs. ................. free from all encumbrances.

(2) The purchaser has paid a sum of Rs. ................. as earnest money on ......................... (the receipt of which sum, the vendor hereby acknowledges) and the balance amount of consideration will be paid at the time of execution of conveyance deed.

(3) The sale shall be completed within a period of.........  months from this date and it is hereby agreed that time is the essence of the contract.

(4) The vendor shall submit the title deeds of the house in his possession or power to the purchaser's advocate within one week from the date of this agreement for investigation of title and the purchaser will intimate about his advocate's report within ................  days after delivery of title deeds to his advocate.

(5) If the purchaser's Advocate gives the report that the vendor's title is not clear, the vendor shall refund the earnest money, without interest to the purchaser within        .................  days from the date of intimation about the advocate's report by the purchasers. If the vendor does not refund the earnest money within               ................... days from the date of intimation about the advocate's report, the vendor will be liable to pay interest @ ................  p.m. upto the date of repayment of earnest money.

(6) The vendor declares that the sale of the house will be without encumbrances.

(7) The vendor will hand over the vacant possession of the house on the execution and registration of conveyance deed.

(8) If the purchaser commits breach of the agreement, the vendor shall be entitled to forfeit the earnest money paid by the purchaser to the vendor and the vendor will be at liberty to resell the property to any person.

(9) It the vendor commits breach of the agreement, he shall be liable to refund earnest money, received by him and a sum of Rs. ................. by way of liquidated damages.

(10) The vendor shall execute the conveyance deed in favour of the purchaser or his nominee as the purchaser may require, on receipt of

the balance consideration.

(11) The vendor shall at his own costs obtain clearance certificate under section 230A, Income tax Act, 1961 and other permissions required for the completion of the sale.

(12) The expenses for, preparation of the conveyance deed, cost of stamp, registration charges and all other cut of pocket expenses shall be borne by the purchaser.

Schedule above referred to

IN WITNESS WHEREOF the parties have set their hands to this Agreement on the day and year first hereinabove written.

Signed and delivered by Shri A..............

the within named vendor  

Signed and delivered by Shri B ………..

The within named purchaser

AGREEMENT FOR SALE OF A HOUSE WHEN PURCHASE MONEY IS TO BE PAID IN INSTALMENTS

AGREEMENT FOR SALE OF A HOUSE WHEN PURCHASE MONEY IS TO BE PAID IN INSTALMENTS

THIS AGREEMENT made at ................................ this day of ................., 2000, between A, son of ............................  resident of ........................... (hereinafter called the Vendor) of the ONE PART and B, son of            .............................  resident of .......................... (hereinafter called the Purchaser) of the OTHER PART.

WHEREAS the Vendor is absolutely seized and possessed of or well and sufficiently entitled to the house more fully described in the schedule hereunder written.,

AND WHEREAS the Vendor has agreed to sell and the Purchaser has agreed to purchase the said house for a consideration of Rs. .................. out of which the Purchaser has paid a sum of Rs. ................... as earnest money in part payment of the purchase price and has accepted the title of the vendor as at the date of this Agreement;

 AND WHEREAS the Purchaser has shown his inability to pay the balance consideration in one lump sum and has requested the Vendor to accept the balance purchase price in instalments which the Vendor has agreed upon the terms and conditions hereinafter appearing.

IT IS MUTUALLY AGREED BETWEEN THE PARTIES AS FOLLOWS:

(1) The Vendor shall sell and the Purchaser shall purchase the house bearing No........, situated at ………….......... more fully described in the Schedule hereunder written and hereinafter called the said house, at the price of Rs. ........... out of which the Purchaser has paid Rs. ..........  as earnest money on            .............. to the vendor and balance purchase price will be payable by instalments of Rs. ......... each per quarter on.......... day or ..........., .............  day of ............  day of       ............    and .............. day of    ............. in every year, the first payment being made on the date of this agreement (the receipt of which the Vendor hereby acknowledges) and the last, payment to be made on                               ................

(2) The Purchaser may pay off the entire balance amount of purchase price for the time being remaining due by giving ............. days notice in writing to the Vendor.

(3) As soon as the purchase price is paid in full to the Vendor, he shall execute the deed of conveyance in favour of the purchaser in respect of the said house. The stamp duty, registration charges and other out of pocket expenses in respect of execution and registration of deed of conveyance shall be borne by the purchaser.

(4) If the Purchaser shall make default in payment of any instalment for a period of............... months after the date herein before fixed for payment of the same, the Purchaser shall be deemed to have neglected or failed to comply with the conditions of sale and the Vendor shall be entitled to determine this agreement and the earnest money of Rs. ............. and the instalments paid by the Purchaser shall be liable to be forfeited to the Vendor and may be retained by him in or towards satisfaction of the amount payable by the Purchaser to the Vendor as liquidated damages for breach of the conditions of the sale, which are hereby fixed at Rs. .................... and the balance, if any, shall be paid by the Vendor to the Purchaser without interest thereon within  ............ days of such forfeiture and thereupon the Vendor shall be entitled to resume possession of the said house.

(5) Unless the deed of conveyance is executed in favour of the Purchaser, the Purchaser shall not transfer, mortgage, sub-let or transfer the possession of the house or any part thereof except with the permission of the Vendor in writing.

(6) The Purchaser covenants with the Vendor that he shall keep the said house 'in proper repair and get the same annually whitewashed till any instalment remains unpaid under this agreement.

(7) If there shall be any difference or dispute between the parties on any matter arising hereunder, the same shall be referred to arbitration of Shri ........................ whose award shall be final, and binding on the parties. The arbitration under this clause shall be deemed to be arbitration under the Arbitration and Conciliation Act, 1996 or any statutory modification thereof for the time being in force.

IN WITNESS WHEREOF the parties aforementioned have executed this Agreement on the day and year first above written.

Schedule above referred to

Signed and delivered by Shri................. 

the within named Vendor

Signed and delivered by Shri........... 

the within named Purchaser

WITNESSES;

1.

2.

AGREEMENT FOR SALE FOR PURCHASE OF A PLOT FOR CONSTRUCTING FLATS

AGREEMENT FOR  SALE FOR PURCHASE OF A PLOT FOR CONSTRUCTING FLATS

THIS AGREEMENT of sale made at  ................... on this    .............. day of ....................., 2000, between (1) A, son of ......................  (2) B, son of   ........................... (3) C, son of ......................... (4) D, son of  ...............................  all residents of............................... hereinafter collectively called the Vendors of the ONE PART and M/s. ………………………………………, a company incorporated under the Companies Act, 1956 and having its registered office at ..........................., hereinafter called the Purchaser of the OTHER PART.

WHEREAS the Vendors are absolutely seized and possessed of or otherwise well and sufficiently entitled to the plot of land bearing plot No. ......................, situated at .......................................…………. and more fully described in the Schedule hereunder written.

AND WHEREAS the Purchaser is the builder, who is interested to purchase the plot of land for constructing the flats and the Vendors have agreed to sell the said plot of land to the Purchaser on the terms and conditions mentioned below:

NOW IT IS HEREBY AGREED BETWEEN THE PARTIES AS FOLLOWS:

(1) The Vendors will sell and Purchaser shall purchase the plot of land bearing Plot No. ....................., situated at........................................... and admeasuring about .......... sq. mts. more particularly described in the Schedule hereunder written. The purchase price will be calculated at the rate of Rs. 400 per sq. mtr. of the actual area of the land and the actual area of the land will be ascertained by joint measurement of the land by the representatives of both the parties.

(2) The Vendors declare that the tenure of land is freehold and the user of the said land is for the construction of the buildings including residential buildings thereon. The said plot is not subject to any assessment or tax or levy except assessment payable to ................ Municipal Corporation and the land tax payable to the Government of …………….. as under:

Municipal taxes       Rs. ...................per annum

Land Revenue        Rs...........................  per annum

(3) The Vendors will make out a marketable title to the said plot free from all encumbrances, charges and claims to the satisfaction of the purchaser's advocate. The Vendors will, at their own cost, get in all outstanding estates and clear ail defects in title, encumbrances and claims on or to the property.

(4) The Vendors will within ..................... days of this Agreement deliver the title deeds of the property to the purchaser's advocates on their accountable receipt for investigation of title to the property.

(5) The Vendors declare and confirm that the said plot is not subject to any agreement for sale or lease in favour of any person and no interest in the said plot of any nature whatsoever has been created in favour of any person. The Purchaser shall be able to commence construction on the said plot immediately on completion of sale.

(6) The Vendors hereby agree and declare that the said plot is not affected by any Town Planning or any other scheme and that no notice of requisition/acquisition has so far been served on them by Government or Municipal Corporation or any other local or public body or authority for acquisition, requisition, set back or otherwise of the said plot or any part thereof. If before the completion of the sale, it is found that the said plot or any part thereof is affected by any town Planning intended or published scheme of improvement or is affected in any manner by any intended or published scheme of the municipal corporation or any other public body or Government or is reserved for any public purpose, the Purchaser shall have a right to rescind this agreement and in that event each party shall bear and pay its own costs, provided that if the Vendors or any one of them have or has concealed any notice issued or served as aforesaid, the Purchaser will be entitled to all costs, charges and expenses incurred and damages sustained by it.

(7) The sale shall be completed within  .............. months from the date of this agreement, when the purchase price, shall be paid by the Purchaser to the Vendors. The Vendors shall execute and deliver or to be executed and delivered a proper conveyance deed in favour of the Purchaser or its nominee or nominees.

(8) If the Vendors fail to complete the sale as aforesaid, they will make good to the Purchaser all losses and damages suffered by it by reason of the Vendors default.

(9) The Purchaser hereby declares that it is purchasing the said property for building residential flats and if the Purchaser is satisfied that it will not be able to use the said plot for the construction of flats for residential purposes, the Purchaser shall have an option to rescind this agreement and in that event neither party shall have any claim against the other for costs, charges, compensation, damages or otherwise.

(10) The stamp duty registration charges and all other out of pocket expenses shall be borne and paid by the purchaser. Each party shall bear and pay its own solicitor's or advocate's costs.

(11) The Vendors will deliver vacant possession of the plot to the Purchaser at the time of registration of the conveyance deed.

(12) The Purchaser shall not pay any brokerage in respect of this transaction.

(13) The Vendors shall obtain necessary tax clearance certificate in pursuance of section 230A of the Income-tax Act or any other permission from the Government or any other authority required for the completion of the sale.

(14) If the sale is not completed within ............. months from the date of this agreement for no act or omission or default on the part of the Vendors, the Purchaser shall pay interest to the Vendors on the consideration amount at the rate of .............. % per annum from the date of expiry of the said period of six months till the date of completion of the sale on the purchase price payable by it.

Schedule of property

IN WITNESSES WHEREOF, the Vendors have set their hands and the Purchaser has hereunto set its hand to these presents through Shri   ................................ Managing Director, the day and year first above mentioned.

Signed and delivered by

(1) Shri A

(2) Shri B

(3) Shri C

(4) Shri D

the within named Vendors

Signed and delivered by M/s. ……….,

the within named Purchaser by its duly

authorised executive Shri .....................

Managing Director

WITNESSES;

1.

2.