Agreement for Sale of an
Apartment[CD1]
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 Witnessed 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 installment 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 above referred to
The Schedule above referred to
Annexure I
Annexure II
Annexure III
WITNESSES
1 Signed and delivered by the within named Vendor
2. Signed
and delivered by the within named Purchaser
0 Comments
Thank you for your response. It will help us to improve in the future.