Apartment Sale Agreement Template India

About this agreement

Title: Agreement for Sale of an Apartment Format

Are you preparing to buy or sell an apartment in India and need a reliable Agreement for Sale of an Apartment Format? This essential legal document outlines the terms and conditions between the buyer and seller, ensuring a smooth property transaction while complying with Indian laws like the Real Estate (Regulation and Development) Act, 2016 (RERA) and the Transfer of Property Act, 1882.

What is an Agreement for Sale of an Apartment?

An Agreement for Sale of an Apartment Format is a binding contract that details the sale of a residential apartment. It serves as a precursor to the final sale deed and protects both parties by specifying obligations, timelines, and remedies for breaches. In India, this agreement is crucial for registering the property transaction and avoiding future disputes over ownership, payments, or possession.

Why is an Agreement for Sale of an Apartment Format Important?

This document is legally mandatory under RERA for all real estate projects, making it indispensable for transparency and accountability. It safeguards buyers from project delays or developer defaults and provides sellers with secured payment assurances. Using a standardized Agreement for Sale of an Apartment Format minimizes risks like title disputes, encroachments, or hidden liabilities, ensuring court-recognized validity. Without it, transactions can lead to costly litigation in civil courts.

Key Elements of the Agreement for Sale of an Apartment Format

A comprehensive Agreement for Sale of an Apartment Format should include:

Parties Involved: Full details of the buyer(s) and seller(s), including names, addresses, and PAN/Aadhaar numbers.
Property Description: Precise details like apartment number, super built-up area, location, amenities, and undivided share in common areas.
Sale Consideration: Total price, payment schedule (e.g., booking amount, installments, balance on possession), GST, and stamp duty clauses.
Possession and Handover: Timeline for possession, grace periods, and penalties for delays.
Representations and Warranties: Seller's assurances on clear title, no encumbrances, and compliance with approvals.
Default and Termination: Remedies, forfeiture clauses, and arbitration provisions.
Other Clauses: Force majeure, jurisdiction (usually local court), and signatures with witnesses.

These elements make the template ready-to-use and customizable for specific needs.

Who Should Use This Agreement for Sale of an Apartment Template?

Ideal for:

Homebuyers purchasing under-construction or ready-to-move apartments.
Sellers or developers in residential projects across India.
Real estate agents facilitating deals in cities like Mumbai, Delhi, Bangalore, or Chennai.
NRIs involved in property sales. Common use cases include primary residences, investments, or resale apartments, applicable in civil property matters.

Download Your Agreement for Sale of an Apartment Format Now

Get our professional Agreement for Sale of an Apartment Format in PDF or Word format for instant free download. For advanced needs, opt for our paid customizable legal template with AI-assisted modifications or lawyer-reviewed versions. Ready-to-use and compliant with Indian court/company requirements, it's perfect for quick execution.

Customize and Get Legal Advice

While this Agreement for Sale of an Apartment Sample is designed for ease, we recommend consulting a property lawyer for personalization based on state-specific laws (e.g., Maharashtra or Karnataka stamp duties). Pair it with related documents like Sale Deed Format, Builder-Buyer Agreement, or No Objection Certificate (NOC) templates. Ensure e-stamping and registration for full enforceability.

Secure your property deal today with our trusted Agreement for Sale of an Apartment Format in India – download now and proceed confidently! (Word count: 528)

AGREEMENT FOR SALE OF AN APARTMENT

Non-Judicial

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:

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.
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.

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.

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.
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.
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.
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.
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.
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.
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.
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.

The Deed of Apartment shall be made and executed by the Vendor, and other persons having any right or interest in the said property.
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.\
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.
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.
The Sale of the said Apartment shall be subject to the provisions of .................... Apartment Ownership Act and rules made thereunder.
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.
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 ......................................

-------------------------------

……………………………

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;

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Important Guidelines

Guidelines for Drafting an Agreement for Sale of an Apartment

Usage: An Agreement for Sale of an Apartment is a crucial legal document used in real estate transactions when an individual or entity (the seller) is selling an apartment or condominium unit to another party (the buyer). This agreement outlines the terms and conditions governing the sale, ensuring clarity and legal protection for both parties involved.

Common Mistakes to Avoid:

Complete Identification: Clearly identify both parties with their full legal names, addresses, and contact details.

Property Description: Describe the apartment or unit being sold, including its location, unit number, size, and any common facilities or amenities.

Purchase Price and Payment Terms: Specify the total purchase price, payment schedule, and any applicable taxes, registration fees, or maintenance charges.

Title and Ownership: Confirm the title status and ownership rights of the property, ensuring it is free from encumbrances or legal disputes.

Possession Date: Clearly state the date of possession and the process for handing over the apartment.

Inspections and Disclosures: Include provisions for property inspections, disclosures of defects, and the right to cancel the agreement if necessary.

Default and Penalties: Define the consequences of default by either party and the remedies available, including forfeiture of earnest money.

Legal Compliance: Ensure the agreement complies with local real estate laws and regulations, including required disclosures and cooling-off periods.

Legal Counsel: Seek legal advice or have the agreement reviewed by an attorney experienced in real estate transactions to ensure compliance and protection of rights.

Cancellation and Refund: Specify the conditions and consequences of cancellation by either party, including refund procedures.

Dispute Resolution: Define the process for resolving disputes, which may include mediation, arbitration, or litigation.

Amendments and Governing Law: Address the conditions for amending the agreement and specify the governing law for dispute resolution.

Witnesses and Signatures: Provide spaces for witnesses to sign and date the agreement, and ensure all parties involved sign the document.

By following these guidelines and avoiding common mistakes, both buyers and sellers can draft a comprehensive Agreement for Sale of an Apartment that safeguards their interests, complies with legal requirements, and ensures a transparent and legally binding real estate transaction.

Frequently asked questions

What is an Agreement for Sale of an Apartment?→

This is a legal document in India that outlines the terms and conditions for the sale of an apartment between the buyer and seller, including price, possession date, and payment schedule.

Is this Agreement for Sale of an Apartment valid in India?→

Yes, it is legally valid across India when properly executed, stamped as per state laws, and registered with the sub-registrar's office.

Do I need to pay stamp duty on this Agreement for Sale?→

Yes, stamp duty is mandatory in India based on the property's market value and applicable state rates; e-stamping is also available in many states.

In what format can I download this Agreement for Sale of an Apartment?→

You can download it in editable Word format or non-editable PDF format for convenience and legal use in India.

Can I customize or edit this Agreement for Sale of an Apartment?→

Yes, the agreement is fully customizable; edit clauses like price, timelines, and conditions to suit your specific apartment sale in India.

When should I use this Agreement for Sale of an Apartment?→

Use it when finalizing the sale of a residential apartment in India, before executing the final sale deed, to protect both buyer and seller legally.