Form of agreement to be entered into between Promoter and purchaser of flat in Marathi

FORM OF AGREEMENT TO BE ENTERED INTO BETWEEN PROMOTER AND PURCHASER OF FLAT

This Agreement made at _____________ this __________ day of _______________, 2000 _________ between ______________ hereinafter referred to as ?the Promoter? ( ____________________ ) of the One Part and ( _____________________ ) hereinafter referred to as ?the Flat Purchaser? ( __________ ________________________ ) of the Other Part.

Whereas the Promoter has by an Agreement / Conveyance dated _____________ day of ____________, 2000 and executed between ______________________________ of the One Part (hereinafter referred as ?the Vendor?) and the Promoter of the Other Part, the Vendor has agreed with the Promoter for the absolute sale to the Promoter / sold absolutely to the Promoter an immovable property being piece or parcel of freehold land lying and being at ______________ in the Registration Sub-District of _____________ admeasuring __________________ sq. mts. or thereabouts more particularly described in the First Schedule hereunder written (hereinafter referred to as ?the said land?).

And Whereas by and under a lease / an agreement for Lease dated the ________ day of __________________, 2000 made between ______________________ of the One Part (hereinafter referred to as ?the Lessor?) and the Promoter of the Other Part, the Lessor agreed to grant unto the Promoter a lease in perpetuity / for a term of ____________________ years in respect of an immovable property being piece or parcel of leasehold land being at ________________ in the Registration Sub-District of ____________________ admeasuring _________ sq. mts. or thereabouts more particularly described in the First Schedule hereunder written (hereinafter referred to as ?the said land?) at a rent of Rs. ____________________ per annum / month and on the terms and conditions contained in the said Lease / Agreement for Lease.

And Whereas, the Lease / Agreement for Lease is with the benefit and right to construct any new building/s, if so permitted by the concerned local authority.

And Whereas by an agreement dated ___________ day of ______________, 2000 Power of Attorney, dated ____________ executed between Shri _________________ (hereunder referred to as ?the Original Owner?) of the One Part and the Promoter of the Other Part (hereinafter referred to as ?the Development Agreement) the Original Owner has appointed the Promoter as his agent to develop the piece or parcel of freehold land lying and being at ___________ in the Registration Sub-District of _____________ admeasuring ______________ sq. mts. or thereabouts more particularly described in the First Schedule therein as well as in the First Schedule hereunder written (hereinafter referred to as ?the said land?) and to construct thereon building/s in accordance with the terms and conditions contained in the Development Agreement / Power of Attorney:

And Whereas as a result of the Urban Land (Ceiling and Regulation) Act, 1976 (hereinafter referred to as ?The Ceiling Act?) which came into force in the State of _____________ on ______________. Vendor / Lessor / Original Owner / Promoter were not entitled to hold any vacant land in excess of the ceiling limit except as otherwise provided in the Ceiling Act.

And Whereas the Vendor/Lessor/Original Owner/Promoter having been shown to be the owner of the said land in the Government and revenue records, the Vendor/ Lessor/Original Owner/Promoter submitted to the Government of _________________ (hereinafter referred to as "the Government") in the name of the Vendor/Lessor/Original Owner and or promoter an application under section _______ of the Ceiling Act for exempting the said land from the provisions of the Ceiling Act.

And Whereas by an Order ___________  dated _________   (hereinafter referred to as "the said Order") the Government exempted, subject to the conditions stated in the said Order, the said land from the provisions of the Ceiling Act.

And Whereas as per the said Order and as a result of the Development Agreement the Promoter is entitled and enjoined upon to construct buildings on the said land in accordance with the said order.

And Whereas the Vendor/Lessor/Original Owner/Promoter having been shown to be the owner of the said land in the Government and Revenue records, the Vendor/ Lessor/Original Owner/Promoter submitted to the Government of ________________ (hereinafter referred to as "the Government") in the name of the Vendor/lessor/Original Owner and Promoter an application under section _______of the Ceiling Act and the guidelines framed by the Government in respect of section ____ of the Ceiling Act for the purpose of developing the said land as stated in the application in accordance with the provisions of the Ceiling Act.

And Whereas by Order No. _______ dated ____________  (hereinafter referred to as "the said Order"), the Competent Authority under the Ceiling Act permitted the Vendor/Lessor/Original Owner and/or Promoter to continue to hold the said land for the construction of houses for weaker sections of the society through the Promoter subject to the terms and conditions therein contained.

And Whereas the Vendor/Lessor/Original Owner/Promoter being in possession of the said land and building thereon will be demolishing/have demolished the old buildings and structures and constructing/has constructed instead new multi-storied building thereon.

And Whereas permission contemplated by section _____ of the Ceiling Act for Development has been obtained by the Vendor/Lessor/Original Owner/Promoter.

And Whereas the Promoter has proposed to construct on the said land  __________ new multi-storied buildings of ground floor at stilt level and                              ______________ or more upper floors. (hereinafter referred to as "the said building/s").

And Whereas the promoter has entered into a standard agreement with an Architect registered with the Council of Architects and such agreement is as per the agreement prescribed by the Council of Architects; whereas the promoter has appointed a 'structural Engineer for the preparation of the structural design and drawings of the buildings and the promoter accepts the professional supervision of the Architect and the structural Engineer till the completion of the building/buildings.

And Whereas by virtue of the Development Agreement/Power of Attorney, the Promoter alone has the sole and inclusive right to sell the flats in the said building/s to be constructed by the Promoter on the said land and to enter into agreement/s with the purchaser/s of the flats and to receive the sale price in respect thereof.

And Whereas the Flat Purchaser demanded from the Promoter and the Promoter has given inspection to the Flat Purchaser of all the documents of title relating to the said land, the said Order, the Development Agreement and the plans, designs and specifications prepared by the Promoter?s Architects Messrs _______________ and of such other documents as are specified under the _____________ Ownership Flats (Regulation of the Promotion of Construction, Sale, management and Transfer) Act, (hereinafter referred to as ?the said Act?) and the rules made thereunder.

And Whereas the copies of Certificate of Title issued by the attorney-at-law or advocate of the Promoter, copies of Property card or extract of Village Forms __________ or any other relevant revenue record showing the nature of the title of the Promoter to the said land on which the flats are constructed or are to be purchased by the Flat Purchaser approved by the concerned local authority have been annexed thereto and marked Annexures ?A? ?B? and ?C? respectively.

And Whereas the Promoter has got approved from the concerned local authority the plans, the specifications, elevations, sections and details of the said buildings.

And Whereas while sanctioning the said plans concerned local authority and/or Government has laid down certain terms, conditions, stipulations and restrictions which are to be observed and performed by the Promoter while developing the said land and the said building/s and upon due observance and performance of which only the completion and occupation certificates in respect of the said building/s shall be granted by the concerned local authority.

And Whereas the Promoter has accordingly commenced construction of the said building/s in accordance with the said plans.

And Whereas the Flat Purchaser applied to the Promoter for allotment to the Flat Purchaser Flat No. ______________ on __________ floor in building no. _________ situated at ___________________.

And Whereas prior to making application as aforesaid, as required by the provisions of _____________ Co-operative Societies Act, the Flat Purchaser has made a declaration to the effect firstly, that neither that Flat Purchaser not the members of the family [Family as defined under the Urban Land (Ceiling and Registration) Act of 1976] of Flat Purchaser own a tenements, house or building within the limits of ______________ (Name of town in which flat applied for is located.)

And Whereas relying upon the said application, declaration and agreement, the promoter agreed to sell to the Flat Purchaser a flat at the price and on the terms and conditions hereinafter appearing.

And Whereas prior to the execution of these presents, the Flat purchaser has paid to the Promoter a sum of Rs. ____________ (Rupees _________________________ ) only, being part payment of the sale price of the flat agreed to be sold by the promoter to the Flat purchaser as advance payment or deposit (the payment and receipt whereof the promoter both hereby admit and acknowledge) which shall in no event exceed fifteen per cent of the sale price of the flat agreed to be sold to the Flat Purchaser and the Flat Purchaser has agreed to pay to the promoter balance of the sale price in the manner hereinafter appearing.

And Whereas under section ___ of the said Act the Promoter is required to execute a written agreement for sale of said flat to the Flat Purchaser being in fact these presents and also to register said agreement under the Registration Act.

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

1. The Promoter shall construct the said building/s consisting of ground and ............ upper floors on the said land in accordance with the plans, designs, specifications approved by the concerned local authority and which have been seen and approved by the Flat Purchaser with only such variations and modifications as the Promoter may consider necessary or as may be required by the concerned local authority/the Government to be made in them or any of them:

Provided that the Promoter shall have to obtain prior consent in writing of the flat purchaser in respect of such variations or modifications which may adversely affect the flat of the purchaser.

2. The Flat Purchaser hereby agrees to purchase from the Promoter and the Promoter hereby agrees to sell to the Flat Purchaser one flat No. ..................... of the Type ............................ of carpet area admeasuring  ................... sq. metres. (Which is inclusive of the area of balconies) on ................... Floor as shown in the floor plan thereof hereto annexed and marked Annexure D/Shop No. ...................  /covered/open Garage No. .................. in the .................... Building (hereinafter referred to as "the Flat") for the price of Rs. .................. including Rs. ............... being the proportionate price of the common areas and facilities appurtenant to the premises, the nature, extent and description of the common/limited common areas and facilities/limited common areas and facilities which are more particularly described in the Second Schedule hereunder written. The Flat Purchaser hereby agrees to pay to that promoter balance amount of purchase price of Rs. .................................. (Rupees  ........____________. .......... ) having been paid to the Promoter on or before the execution of this agreement in the following manner:

Model Agreement between Promoters and Purchasers of Flat
 

THIS AGREEMENT made at _________ on this _____________ day of _______________ 200__.

BETWEEN

M/S. ABC VENTURES ESTATE AND DEVELOPMENT PRIVATE LIMITED, a company incorporated under the Companies Act, 1956 having it?s registered address at ________________ ___________________ , hereinafter referred to as ?THE PROMOTERS? (which expression shall, unless contrary to the context or meaning thereof, mean and include its successors and assigns) OF THE ONE PART;

AND

1.

2.

hereinafter collectively referred to as ?THE PURCHASER? (which expression shall, unless contrary to the context or meaning thereof, mean and include in the case of individuals his/her/their heirs and legal representatives and in case of partnership firm the partners constituting the firm for the time being and the survivors or survivor of them and their respective heirs and legal representatives and in the case of a corporate body, its successors and assigns and in the case of the Trust its Trustees for the time being) OF THE OTHER PART;

WHEREAS:?

(a)  The Promoters are seized and possessed of or otherwise well and sufficiently entitled to the pieces or parcels of land or ground situate lying and being at ________________ ___________________________________ containing by admeasurements ________ sq. yards or thereabouts equivalent to ________ sq. mts. bearing Survey No.________ Hissa No._____, C.T.S. No.________ and more particularly described in the First Schedule hereunder written and is hereinafter referred to as ?the said plot?. The said plot stands in the revenue records in the name of the Promoters.

(b)  The Promoters are fully entitled to develop the said plot and construct building/s thereon in accordance with the plans sanctioned by the Municipal Corporation of Greater Mumbai. The Promoters have got approved from the concerned local authority the plans, the specifications, elevations, sections and details of the said buildings to be constructed on the said plot. The Promoters have also obtained Commencement Certificate from Brihanmumbai Mahanagarpalika.

(c)  In accordance with the plans sanctioned by the Municipal Corporation of Greater Mumbai, the Promoters are developing the said plot described in the First Schedule hereto 
and are constructing thereon building to be known as ?________________? consisting inter alia of ground floor plus ten upper floors.

(d)  The Promoters have entered into standard agreement with an Architect registered with the Council of Architects and such agreement is as per the agreement prescribed by the Council of Architects.

(e)  The Promoters have appointed structural Engineers for the preparation of the structural design and drawings of the buildings and the Development shall be under the professional supervision of the Architects and the structural Engineers till the completion of the building/s;

(f)  The Promoters, as the owners alone have the sole and exclusive right to sell the premises in the said buildings to be constructed on the said plot and to enter into agreement/s with the purchaser/s of premises in the said buildings and to receive the sell price in respect thereof.

(g)  The Purchaser has demanded from the Promoters and the Promoters have given inspection to the Purchaser of all the documents of title relating to the said plot, the relevant orders, and the approved plans, designs and specifications prepared by the Promoters? Architects and all other documents as specified under the Maharashtra Ownership Flats (Regulation of the Promoters of Construction, Sale, Management and Transfer) Act, 1964 (hereafter referred as ?the said Act?) and the rules made there under.

(h)  The Promoters have also annexed hereto the copies of following documents:

                                                                                    Annexure

1.    Certificate of the title of the                                 A
 said plot issued by Advocates
 and Solicitors of the Promoters;

2.    Property card;                                                         B

3.    The appropriate order of the Urban Land          C
 (Ceiling & Regulation) Act, 1976;                          

4.    Sketch of layout plan;                                            D

5.    Sketch plan of the flat; and                                   E

6.    Sketch plan of Car Park                                         F           (if applicable)        

(i)   While sanctioning the said plans, in respect of construction on the said plot, the concerned local authority and/or Government has laid down certain terms, conditions, stipulations and restrictions which are to be observed and performed by the Promoters while developing the said plot and the said building thereon and upon due observance and performance of which only the completion and occupation certificate in respect of the said building shall be granted by the concerned authority.

(j)   The Promoters are entering into similar separate agreements with the several other persons and parties for the sale of flats/shops/car parking spaces etc. in the said buildings.

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

1.   The Promoters shall construct the said building called ?_________? on the said plot more particularly described in the First Schedule hereunder written in accordance with the plans, designs, specifications approved by the concerned local authority and which have been seen and approved by the Purchaser with only such variations and modifications as the Promoters may consider necessary or as may be required by the concerned local authority. However, the Promoters shall have to obtain prior consent in writing of the purchaser in respect of such variations or modifications which may adversely affect the flat of the Purchaser agreed to be sold hereunder. The Promoters subject to the aforesaid right of the Purchaser have the right to amend and/or modify the said plans for smooth and better development of the said plot without any reference to the Purchaser.

2.   The Purchaser agrees to purchase from the Promoters and the Promoters agree to sell to the Purchaser Flat No. _____ of carpet area admeasuring ________ sq.metres (which is inclusive of the area of balconies) on ________ floor as shown in the Floor Plan thereof hereto annexed and marked Annexure E in the ?_____________? Building along with covered/open Garage No. ________, [the aforesaid flat and the Garage (wherever applicable) are hereinafter collectively referred to as ? the said premises?], for the price of Rs. __________ including the proportionate price of the common areas and facilities appurtenant to the said premises. The said premises agreed to be sold hereunder are more particularly described in the Second Schedule hereunder written. The Purchaser has paid to the Promoters a sum of 
 Rs. __________/- (Rupees ____________________ only) being part payment towards the sale price (the payment and receipt whereof the Promoters hereby admit and acknowledge) and shall pay to the promoters balance amount of purchase price of Rs. ______________ (Rupees ________________________) in the following manner:-

       (i)  10 percent upon construction of Plinth;

      (ii)  20 percent upon laying of Slab;

      (iii)  7 percent upon Walling;

     (iv)  10 percent upon fixing of Doors and Windows;

      (v)  7 percent upon completion of Flooring;

     (vi)  7 percent upon completion of Plastering work (internal and external);