Flat Resale Purchase Agreement Template India

About this agreement

Title: AN INSTRUMENT FOR PURCHASE OF A FLAT IN RESALE WHERE SOCIETY OR LIMITED COMPANY OR CONDOMINIUM IS YET TO

Are you planning to buy a resale flat in a building where the society, limited company, or condominium is yet to be formed? Secure your purchase with our professionally drafted AN INSTRUMENT FOR PURCHASE OF A FLAT IN RESALE WHERE SOCIETY OR LIMITED COMPANY OR CONDOMINIUM IS YET TO Format available for free download in PDF and Word formats.

This essential legal document, commonly used in India under property laws like MOFA (Maharashtra Ownership Flats Act) and RERA, provides a robust framework for transferring ownership of a resale flat when the housing society or managing entity is not yet established. It protects buyers from potential disputes arising from incomplete society formation, unclear titles, or developer liabilities.

Why is AN INSTRUMENT FOR PURCHASE OF A FLAT IN RESALE WHERE SOCIETY OR LIMITED COMPANY OR CONDOMINIUM IS YET TO Format Important?

Purchasing a resale flat in a nascent society setup can be risky. Without a proper instrument, buyers may face issues like disputed possession, unpaid society charges, or challenges in membership transfer. This format ensures compliance with legal requirements, clearly delineates rights and obligations, and safeguards your investment. It's crucial for transactions in states like Maharashtra, Karnataka, and Delhi where resale in under-formed societies is common. Using a ready-to-use AN INSTRUMENT FOR PURCHASE OF A FLAT IN RESALE WHERE SOCIETY OR LIMITED COMPANY OR CONDOMINIUM IS YET TO Sample minimizes errors and speeds up registration at the sub-registrar office.

Key Elements of the AN INSTRUMENT FOR PURCHASE OF A FLAT IN RESALE WHERE SOCIETY OR LIMITED COMPANY OR CONDOMINIUM IS YET TO

A comprehensive template includes:

Details of Parties: Full identification of seller (previous owner) and buyer.
Property Description: Precise flat details, including carpet/built-up area, location, and share in common areas.
Consideration and Payment Schedule: Sale price, mode of payment, and receipts.
Title and Encumbrance Certificate: Seller's clear title declaration and no-objection from developer/builder.
Society Formation Clause: Provisions for future society membership transfer and proportionate undivided share.
Indemnity and Warranties: Seller's guarantee against defects, litigations, or dues.
Possession and Handover: Date of possession and keys handover.
Stamp Duty and Registration: Clauses for execution on stamp paper.

This customizable legal template covers all court and company requirements for validity.

Who Should Use This Format?

Ideal for:

Homebuyers purchasing resale flats in new or under-construction buildings without formed societies.
Investors in real estate where condominiums or limited companies are pending formation.
NRIs or second-home buyers ensuring seamless title transfer in India. Common in civil property transactions, business investments, and family transfers.

Download Your Ready-to-Use Template Now

Get instant access to our AN INSTRUMENT FOR PURCHASE OF A FLAT IN RESALE WHERE SOCIETY OR LIMITED COMPANY OR CONDOMINIUM IS YET TO Format in editable Word or printable PDF. Customize it online with AI assistance or seek legal help for specific clauses. Perfect for quick, hassle-free purchases.

Note on Customization and Legal Advice

While this free downloadable AN INSTRUMENT FOR PURCHASE OF A FLAT IN RESALE WHERE SOCIETY OR LIMITED COMPANY OR CONDOMINIUM IS YET TO legal template is ready-to-use and compliant with Indian laws, we recommend consulting a property lawyer for personalization based on your location and case specifics. Explore related formats like Agreement to Sale, Sale Deed, or Society NOC for comprehensive real estate documentation. Ensure proper stamping and registration for enforceability.

AN INSTRUMENT FOR PURCHASE OF A FLAT IN RESALE WHERE SOCIETY OR LIMITED COMPANY OR CONDOMINIUM IS YET TO

Non-Judicial

An Instrument for Purchase of a Flat in Resale where Society or Limited Company or Condominium is yet to
be formed

DEED FOR SALE

THIS DEED OF SALE MADE AT ____________ this ________ day of ______________ 200___ BETWEEN (1) ABC and (2) XYZ, both
of _________, Indian Inhabitants having their common address
at _________________________________________________________________ _________________________, hereinafter collectively called ?THE VENDORS? (which expression shall unless it be repugnant to the context or meaning thereof be deemed to mean and include their respective heirs, executors and administrators) of the One Part; and (1) DEF and (2) PQR, both of ________, Indian Inhabitants, having their common address at ____________________________________________, hereinafter collectively called ?THE PURCHASERS? (which expression shall unless it be repugnant to the context or meaning thereof be deemed to mean and include their respective heirs, executors, administrators and assigns) of the Other Part:

WHEREAS:?

(a) By an agreement for sale dated __________________ and made between M/s. Pinky Builders, therein and hereinafter referred as the ?THE DEVELOPERS? of the One Part and the Vendors herein and therein referred to as the ?THE PURCHASERS? of the other part, the said Developers agreed to sell and the Vendors agreed to purchase a Flat No. _____ of Built up area admeasuring _________ square feet on the 2nd floor
of the building known as ?AAVISHKAR? situate at __________ _______________________________________________ (hereinafter referred as ?the said Flat?) on the terms and conditions recorded therein. The said agreement for sale is duly stamped and registered as required in law and the same is in possession of the Vendors. The land on which the said building is constructed is more particularly described in the First Schedule hereunder written. The said flat is more particularly described in the second schedule hereunder written.

(b) The Vendors have complied with all their obligations under the said agreement for sale dated 10th May, 1999 with the said Developers and have also made payment of entire consideration to the said Developers and the said Developers have put the Vendors in vacant and peaceful possession of the said flat as owners thereof.

(d) The various Purchasers of the flats and other premises in the said building ?AAVISHKAR? have yet to form the Co-operative Housing Society.

(e) The Purchasers have agreed to purchase and acquire from the Vendors the said flat and all their right, title and interest therein, free from all encumbrances and reasonable doubts of whatsoever nature to which the Vendors have agreed upon the terms and conditions recorded hereinafter;

NOW THIS DEED WITNESSETH and it is hereby agreed by and between the parties hereto as follows:?

1. The Vendors hereby sell, transfer, convey and assign, free from all claims and encumbrances whatsoever, all and singular their ownership right, title and interest in the said Flat No. ___ admeasuring ______ sq.ft., of Built up area on the 2nd floor of the building known as ?AAVISHKAR? situate at ________________________________ and more particularly described in the First Schedule hereunder written together with all their rights and benefits under their agreement for sale dated ______________________ with the said Developers to
the Purchasers at and for the lumpsum price of
Rs. ______________/- (Rupees ________________ only) already paid in full on or before the execution of these presents (the payment and receipt whereof the Vendors do and each of them doth hereby admit, confirm and acknowledge).

2. It is agreed and recorded that upon execution hereof the sale of the said flat by the Vendors in favour of the Purchasers is completed and the Vendors have delivered vacant and peaceful possession of the said Flat to the Purchasers as owners thereof along with their said Original agreement for sale dated _______ _____________ with the said Developers.

3. The Vendors have at their cost obtained the Developers consent and No Objection Certificate for transfer of the said flat in favour of the Purchasers.

4. The Vendors declare, represent and covenant with the Purchasers that:?

(a) The Vendors are the sole and absolute owners of the said flat and have the absolute and sole right to hold, use, occupy and possess the same as owners.

(b) The Vendors? all rights and benefits under the said agreement for sale dated 10th May, 1999 in respect of the said flat shall hereafter belong to the Purchasers as if the said agreement was entered into by and between the said Developers and the Purchasers, in place of the Vendors as Purchasers. The said agreement for sale dated 10th May, 1999 is valid and subsisting and they have not assigned the benefit of the said agreement for sale to anybody else by way of security or otherwise.

(c) That the said flat is free from all claims, encumbrances and reasonable doubts of any nature whatsoever and the same is not attached either before or after judgement or at the instance of any taxation authority or any other authorities and the Vendors have not given any undertakings to the taxation authorities or any authorities so as not to deal with or dispose of the right, title and interest in the said flat and that the Vendors have full and absolute power and authority to deal with the same. That they have not created any mortgage, charge, lien, tenancy, license or any encumbrances or liability or third party rights in respect of the said flat and that they have not done any act whereby the rights in respect of the said flat have been prejudiced or jeopardized in any manner whatsoever.

(d) Save and except the Vendors no other person has or had any claim, share, right, title, interest in the same and the Vendors are competent and entitled to sell and transfer the same as provided in these presents.

(e) The Purchasers shall hereafter be entitled to quietly and peacefully possess, occupy and enjoy the said flat without any hindrance, denial, interruption or eviction or claim by the Vendors and/or through under or in trust for them. Henceforth, the Vendors shall have no right, title, claim or interest of whatsoever nature in the said flat as the same is conveyed to the Purchasers. The various deposits and other amounts paid by the Vendors to the said Developers under the said agreement for sale dated ____ ___________ shall also hereby stand transferred in favour of the Purchasers as the lumpsum consideration is inclusive of the same and the Vendors shall not be entitled to receive back the said amount from the said Developers. The Purchasers shall be entitled to become members of the proposed society which shall be formed by the Purchasers of premises in the said building ?AAVISHKAR? in place of the Vendors.

4. The Vendors have paid all the dues and outgoings in respect of the said flat till the date hereof and thereafter the Purchasers shall be liable to pay the same.

5. The Vendors shall hereinafter as and when required by the Purchasers at the cost of the Purchasers sign and execute in favour of the Purchasers all such further and other documents as may be required for effective and complete transfer of the said flat in favour of the Purchasers.

6. The Vendors have represented and assured to the Purchasers that their title to the said flat is free from all encumbrances and claims of whatsoever nature. In the event it is found that Vendors title to the said flat is defective or any claim is made on the said flat or Purchasers have suffered any loss or damages by the statements, declarations, representations and assurances made by the Vendors or any claim whether directly or indirectly is made on the said flat in that case Vendors agree to indemnify the Purchasers and hereby indemnifies the Purchasers, their nominees and their successors in title to the said flat against all loss, damages, cost and expenses which may be suffered by the Purchasers/their nominees/their successors in title on account of above and the Vendors shall reimburse the Purchasers and/or their nominees and/or successors in title for the same on their making demand to that effect.

7. The Stamp duty and registration charges on this instrument shall be borne and paid by the Purchasers alone. The Transfer charges payable to the said Developers are paid by the Vendors.

THE FIRST SCHEDULE ABOVE REFERRED TO:

(Give detailed description of the land on which subject
building is completed)

THE SECOND SCHEDULE ABOVE REFERRED TO:

(Give detailed description of the subject flat)

IN WITNESS WHEREOF the Vendors and the Purchasers have set and subscribed their respective hands, the day and year first hereinabove written.

SIGNED AND DELIVERED by )

the within Named (1) ABC )

and (2) XYZ, THE VENDORS )

above Named, in the presence of .... )

SIGNED AND DELIVERED by )

the within Named (1) DEF and (2) PQR, )

THE PURCHASERS above Named, )

in the presence of ???????? )

RECEIPT

Received the day and year first hereinabove written of and from the within Named Purchasers the sum of Rs.______________/- (Rupees __________________________________ only) being the full and final consideration amount as under:

Rs___________/- (Rupees ____________________)

WE SAY RECEIVED

(ABC)

(XYZ)

THE VENDORS

Witness:

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Important Guidelines

An Instrument for the Purchase of a Flat in Resale, where a society, limited company, or condominium association is yet to be formed, is a legal document used when an individual intends to buy a residential property in a building that has not yet established a formal homeowners' association. This document outlines the terms and conditions of the purchase. Here are guidelines for drafting such an instrument and

Common Mistakes to Avoid:

Parties and Property Details: Clearly identify the buyer and seller, providing their full names and addresses, and provide a detailed description of the property, including its address, dimensions, and any common areas.

Purchase Price and Payment Terms: Specify the agreed-upon purchase price, payment schedule, and any contingencies related to financing.

Property Inspection: Outline the conditions under which the property will be inspected and any remedies or adjustments that may arise from inspection findings.

Title and Ownership: Confirm that the seller has clear title to the property and specify the transfer of ownership terms.

Common Mistakes to Avoid:

Incomplete Information: Failing to provide comprehensive details about the property, purchase price, or parties involved can lead to misunderstandings.

Ignoring Local Laws: Neglecting to comply with local real estate and property laws can result in legal issues.

Unclear Terms: Using vague language or not clearly defining the terms of the purchase can lead to disputes.

Lack of Legal Review: Not having the document reviewed by a qualified attorney may result in errors or omissions.

Notarization: Skipping notarization, if required, can make the instrument legally invalid.

Drafting an Instrument for the Purchase of a Flat in Resale without the formation of a formal homeowners' association requires careful consideration of the terms and conditions to ensure a smooth transaction and protect the interests of both parties. Consulting with a qualified attorney experienced in real estate and property law is essential to avoid common pitfalls and maintain a legally sound purchase agreement.

Frequently asked questions

What is an Instrument for Purchase of a Flat in Resale where Society or Limited Company or Condominium is Yet to be Formed?→

This is a legal agreement in India for buying a resale flat in a building where the owners' society, limited company, or condominium has not yet been established. It protects buyer and seller rights and is downloadable in Word or PDF format.

Is this agreement legally valid in India?→

Yes, it is legally enforceable across India when drafted correctly, stamped as per state laws, and registered under the Registration Act, 1908.

Do I need to pay stamp duty on this resale flat purchase agreement?→

Yes, stamp duty is mandatory in India, typically 5-7% of the consideration amount for resale flats, varying by state. Get it adjudicated at the sub-registrar's office.

In what format can I download this agreement?→

Download in editable Microsoft Word or non-editable PDF format. Word version allows easy customization for your specific flat details.

Can I customize or edit this agreement before using it?→

Absolutely, it's fully customizable. Modify clauses for parties, flat description, payment terms, and other details to fit your resale flat transaction in India.

Who should use this agreement and when?→

Buyers and sellers should use it for resale flats in projects where the society or condominium is yet to form. Ideal before formal society registration in India.

AN INSTRUMENT FOR PURCHASE OF A FLAT IN RESALE WHERE SOCIETY OR LIMITED COMPANY OR CONDOMINIUM IS YET TO

Non-Judicial

An Instrument for Purchase of a Flat in Resale where Society or Limited Company or Condominium is yet to
be formed

DEED FOR SALE

WHEREAS:?

(d) The various Purchasers of the flats and other premises in the said building ?AAVISHKAR? have yet to form the Co-operative Housing Society.

NOW THIS DEED WITNESSETH and it is hereby agreed by and between the parties hereto as follows:?

3. The Vendors have at their cost obtained the Developers consent and No Objection Certificate for transfer of the said flat in favour of the Purchasers.

4. The Vendors declare, represent and covenant with the Purchasers that:?

(a) The Vendors are the sole and absolute owners of the said flat and have the absolute and sole right to hold, use, occupy and possess the same as owners.

4. The Vendors have paid all the dues and outgoings in respect of the said flat till the date hereof and thereafter the Purchasers shall be liable to pay the same.

7. The Stamp duty and registration charges on this instrument shall be borne and paid by the Purchasers alone. The Transfer charges payable to the said Developers are paid by the Vendors.

THE FIRST SCHEDULE ABOVE REFERRED TO:

(Give detailed description of the land on which subject
building is completed)

THE SECOND SCHEDULE ABOVE REFERRED TO:

(Give detailed description of the subject flat)

IN WITNESS WHEREOF the Vendors and the Purchasers have set and subscribed their respective hands, the day and year first hereinabove written.

SIGNED AND DELIVERED by )

the within Named (1) ABC )

and (2) XYZ, THE VENDORS )

above Named, in the presence of .... )

SIGNED AND DELIVERED by )

the within Named (1) DEF and (2) PQR, )

THE PURCHASERS above Named, )

in the presence of ???????? )

RECEIPT

Rs___________/- (Rupees ____________________)

WE SAY RECEIVED

(ABC)

(XYZ)

THE VENDORS

Witness:

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