Package Deal Agreement for Sale of Flats in bulk to a Purchaser in Marathi

PACKAGE DEAL AGREEMENT FOR SALE OF FLATS IN BULK TO A PURCHASER

THIS AGREEMENT made at  ..................  on  ..................  this .............. day of   ............., 2000,  Between (1) A, son of................ resident of ............... (2) B, son of ............................. resident of ..................................... and (3) C, son of .............................. resident of ........................ (hereinafter called "the Vendor", which expression shall, unless it be repugnant to the context or meaning thereof, be deemed to mean and include their heirs, executors, administrators and Assigns) of the ONE PART and the ................... a company incorporated under the Companies Act, 1956 and having its registered office at .........................  (hereinafter called 'the Purchasers', which expression shall, unless it be repugnant to the context or meaning thereof, be deemed to mean and include its successors and assigns) of the OTHER PART.

WHEREAS the Vendors are absolutely seized and possessed or otherwise well and sufficiently entitled to the piece or parcel of land bearing Plot No  ............. situated at.......................................... more particularly described in the First Schedule hereunder written and delineated on the plan thereof hereto annexed and thereon shown surrounded by red coloured boundary line, which is hereinafter referred to as "the said land".

AND WHEREAS the Vendors have purchased the said land under a Deed of conveyance dated .................... and made between ................. of the one part and Vendors of the other part, which sale deed has been registered with Sub-Registrar of Assurances, in Book No. 1 at pages     ......... at Sr. No   ............ in Volume No      ......................

AND WHEREAS the said land was not vacant as on the date of the commencement of the Urban Land (Ceiling and Regulation) Act, 1976, and as such no permission is required from the Government of ____________ or the competent Authority under the said Act to hold the said land and deal with the same.

AND WHEREAS the Vendors propose to demolish the old structures standing on the said land and intend to construct the buildings thereon and for that purpose, the Vendors have submitted site plans for construction of the building on the said land, to the Municipal Corporation of ____________ and the said ____________. Municipal Corporation have approved the said plans on terms and conditions set out in its letter dated  ..................... a true copy whereof is annexed hereto and- marked as Annexure - A;

AND WHEREAS the Purchasers intend to purchase ready built flats for their executives and employees in the city of .............. and advertised for the same in the newspapers and the Vendors have submitted their offer to sell the flats to the Purchasers which the Purchasers have agreed to purchase.

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

(1) The Vendors shall sell to the Purchasers and the Purchasers shall purchase from the Vendors the said land and four buildings with ____________ flats being constructed thereon at the rate of Rs. ................. (Rs. ...................................................... ) per sq. ft. of built up area of the entire completed buildings.

The purchasers shall pay the said price to the Vendors in the manner given below:

(i)         Rs. ................................... on execution of this Agreement

(ii)       Rs . ........................................   on plinth

(iii)       Rs . .........................................  on casting of 1st slab

(iv)       Rs   ____________..........................  on casting of 2nd slab

(v)        Rs. ........................................   on casting of 3rd slab

(vi)       Rs. .........................................  on casting of 4th slab

(vii)      Rs. ........................................   on casting of 5th slab

(viii)     Rs. ....................................... after completion of sanitary, plumbing and carpentry work.

(ix)       Rs. ......................... on handing over the possession of the buildings.

The Purchasers shall make payment to the Vendors in different stages, on receipt of the certificate from the Architect to the effect that the Vendors have completed the stage on which payment is required to be made in terms of this Agreement.

(2) The Vendors hereby agree and undertake to construct on the said land the buildings consisting of ____________ flats in accordance with the plans approved by .............. Municipal Corporation, true copies whereof are annexed hereto and marked as Annexure - A, in accordance with the specifications set out in the Second Schedule hereunder written:

PROVIDED that the Purchasers may require the Vendors to make changes or alterations in the said plans, as it may deem necessary to suit its requirements AND the Vendors hereby undertake to get the said alterations or changes approved by the Municipal Corporation of .............. at its own cost and execute the said alterations or changes within the aforementioned cost SUBJECT HOWEVER to the condition that the said alteration or changes do not involve any change in the specifications as specified in the Second Schedule hereunder written. It is hereby agreed by the parties hereto that in the event of any such alterations or changes in the specifications annexed hereto, the Purchaser shall pay to the Vendors extra charges to be incurred by them in respect of the changes or alterations.

(3) The fixtures, fittings and amenities to be provided by the Vendors in the said buildings are those set out in Annexure - B annexed hereto.

(4) The rate of Rs...................... per sq. ft. of the built-up area of the said completed buildings on the said land is inclusive of:

(i)         The cost of land.

(ii)        Civil works.

(iii)       Plumbing and sanitary works.

(iv)       Water, electricity and gas connection including internal and external water supply.

(v)        Compound wall of the land with gates.

(vi)       Fire fighting installation.

(vii)      Two lifts each in all the buildings.

(viii)     Underground and overhead tanks, pump houses an installation of electrically operated water pumps.

(ix)       All deposits with the authorities for water, electricity, gas, sewerage, sanction of the plans, etc.

(x)        Remuneration and other expenses of the Architects and RCC specialists.

(xi)       Insurance of the buildings during the construction.

(xii)      All other works required for the completion of the buildings as per bye-laws of the ____________.. for issue of completion and occupation certificates.

The above rates are firm and shall not be varied under any circumstances whatsoever. All taxes payable in respect of the constructions and materials including sales tax on works contract, if payable, shall be payable by the Vendors.

(5) The total built up area of the said building shall be about .................. sq. ft. and the Purchasers shall pay the purchase price on the basis of actual calculations arrived at after joint measurements by the Architects of both the parties.