Agreement for Sale of Immovable Property
THIS AGREEMENT FOR SALE made at ___________this ________ day of ___________ in the Christian Year Two Thousand _______ BETWEEN ABC of ____________, Indian Inhabitant, having address
at _____________________________________________________________, hereinafter called ?THE VENDOR? (Which expression shall unless repugnant to the context or meaning thereof be deemed to include his heirs, executors and administrators) of the One Part; AND M/s. XYZ & CO., a partnership firm having its office at _____________________ ____________________________________________________________ hereinafter called ?THE PURCHASERS? (which expression shall unless repugnant to the context or meaning thereof mean and include the partners or partner for the time being of the firm, the survivors or survivor of them and the heirs, executors and administrators of the last surviving partner and their/his/her assigns) of the Other Part;
WHEREAS:?
(a) The Vendor is seized and possessed of and otherwise well and sufficiently entitled to all that piece and parcel of land here determents and premises situate at __________________ __________________________________ bearing C.T.S./C.S. No. __________ together with building thereon known as ?AAVISHKAR? and more particularly described in the Schedule hereunder written and delineated on the plan thereof hereto annexed and thereon shown surrounded by red colored boundary line (hereinafter collectively called ?the said property?);
(b) The said property consists of ground floor and two upper floors and which is entirely in possession of the Vendor.
(c) The Vendor has agreed to sell and the Purchasers have agreed to purchase the said property at or for the price of
Rs. _____________ (Rupees _____________________________ only) upon the terms and subject to the conditions hereinafter appearing.
NOW THIS AGREEMENT WITNESSETH AND IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERETO as follows:?
1. The Vendor shall sell and the Purchasers shall purchase all and singular the said land here determents and premises together with building known as ?AAVISHKAR? standing thereon situate at ______________________________________ and delineated on the plan thereof hereto annexed being thereon shown surrounded by red colored boundary line and more particularly described in the Schedule hereunder written with their appurtenances, free from all encumbrances, at or for the price of Rs. ______________/- (Rupees _______________________).
2. The aforesaid amount of Rs. _____________/- (Rupees _________________________ only) as the price of the said property shall be paid by the Purchasers to the Vendor in the manner following that is to say:?
(a) Rs. _____________/- (Rupees __________________ only) as deposit or earnest money shall be paid on or before the execution of these presents (the payment and receipt whereof the Vendor doth hereby admit and acknowledge); and
(b) Rs. _____________/- (Rupees ___________________ only) the balance of the sale price shall be paid within three months from the date hereof on completion of the sale as hereinafter provided. Time for payment of the said amount shall be the essence of the contract as provided herein.
3. The said property is fully constructed and no permission from Competent Authority under the provisions of Urban Land (Ceiling & Regulation) Act, 1976 is required for sale and transfer of the said property.
4. The area of the property is _________ sq.mts. according to the documents of title and/or Government Records and the same shall be taken as correct and accepted by the Purchasers. The price of the said property has been agreed to between the parties on a lump sum basis without any reference to the said area and if the said area is ultimately found to be more or less the same shall not be a ground for any increase or decrease in the price or for rescinding this Agreement.
5. The Vendor shall within a period of seven
