MODEL FORMAT OF AGREEMENT FOR SALE
AGREEMENT
FOR SALE
THIS
AGREEMENT FOR SALE is made and executed at ------ on this the --
day of January, 2022
BETWEEN
Mr.-----------,(Aadhaar No.---------------) son of Mr.---------------, Hindu, aged about -- years, residing at No.--, ---------------Nagar Extension, Part -, ------------, PLACE, hereinafter called the VENDOR which expression where ever it occurs shall mean and include himself, his respective heirs, successors, executors, administrators, legal representatives, attorneys and assigns of the ONE PART;
AND
1)Mr.-----------, (Aadhaar
No.--------------)son of Mr. ------------, Hindu, aged about -- years, residing at No.--,
--------- Street, ----------, ----------------, PLACE,2) Mr.--------, (Aadhaar No.---------------) son of Mr.--------------,
Hindu, aged about --- years, residing at No.---, ------ Street, -----------, PLACE
and 3)Mrs.----------,(AadhaarNo.--------------)
wife of Mr.--------------, Hindu, aged
about -- years, residing at No.--,------ Road, --------, PLACE hereinafter
called the "PURCHASERS" which
expression wherever it occurs shall mean and include themselves, their legal heirs,
successors, successors-in-interest, executors, administrators, legal
representatives, and assigns of the OTHER
PART.
WHEREAS
the Vendor herein represents that he is the absolute owner, of the vacant Plot No.----, measuring an
extent of -- Ground ---- sq.ft, (----
sq.ft), in ----- Nagar, Comprised in Survey No.---/--, as per Patta No.-----
Sub–division Survey No.----/--, situated at ---------- Village, ------------
Taluk, ---------- District, more fully described in the schedule here
under, he having possessed the same by way of Deed of Sale dated -- / -- / 20-- registered as Document No.----
of 20-- SRO: ------ and by way of Deed
of Release dated -- / -- /20--
registered as Document No.------ of 20--- SRO:----.
AND WHEREAS
the Vendor is in absolute possession
and enjoyment of the property and obtained Patta No. ------- in his name as per patta sub division Survey
No.---- /--.
AND WHEREAS the Vendor being in need of funds had decided to sell the Schedule mentioned
property hereunder and had offered to sell and the PURCHASERS had accepted to
purchase the same.
AND WHEREAS
the VENDOR offered to sell and
transfer the schedule mentioned property to the PURCHASERS for a sale
consideration of Rs.---------------/-
(Rupees -------------- only) and the
PURCHASERS herein had agreed to purchase the same for the aforesaid
consideration on the following terms and conditions.
NOW THIS AGREEMENT
WITNESSETH AS FOLLOWS:
1. The Sale consideration of the Schedule
mentioned Property is agreed at of Rs.-------------- /- (Rupees --------------- only).
2. The PURCHASERS had this day paid a sum of
1)Rs.----------------/- by way of Demand Draft No.------------------
dated --/--/20--, drawn on ------------- Bank Ltd, ---------- Branch, PLACE,
and 2) Rs.---------------/- by way of Cash on
--/--/30--, to the vendor totally Rs.------------/- as advance the
receipt of which sum the VENDOR hereby admit and acknowledge.
3.
The balance payment of Rs.---------------, shall be paid by the PURCHASERS to
the VENDOR on the day of registration of Sale deed and the entire sale
transaction shall be completed within 45 days from the date of this agreement
and subject to approval of loan by the banker’s of the purchaser.
4)
The VENDOR covenant with the purchasers that he shall not do any act, deed or
thing creating any charge, lien or encumbrance in respect of the schedule properties during the subsistence of this
Agreement and the Vendor agrees to permit the Purchasers to survey the Plot.
5)
The parties mutually agree that the sale agreement shall be registered in due
course.
6)
The Parties herein covenant that the payment of the sale consideration agreed as aforesaid shall be inclusive of the Tax
Deduction at Source.
7)
It is agreed between the parties herein that the vendor shall hand over vacant possession
of the property to the purchasers at the time of registration.
8)
The Vendor had this day handed over the Xerox Copies of the title deeds
relating to the schedule mentioned property to the purchaser and further
undertake to produce such original document on the day of registration of the
sale deed and other documents and information that may be called for and
undertakes to produce the same.
9)
The Vendor shall pay all the duties, levies, charges, taxes, rates etc, till
the date of completion of sale and the VENDOR hereby assure the PURCHASERS and he
had absolute power to convey the same and there are no encumbrances, liens,
charges, Government dues, attachments, acquisition, or requisition, proceedings
etc.
10)
The VENDOR covenant with the purchasers that he shall not do any act, deed or thing
creating any charge, lien or encumbrance in respect of the schedule-properties
during the subsistence of this Agreement.
11) The VENDOR confirm with the PURCHASERS that
he had not entered into any agreement for sale, mortgage or exchange whatsoever
with any other person relating to the Schedule Property of this Agreement.
12) The Vendor further undertake to allow the
Purchasers Advocate or their nominees or
their representative to inspect the original documents.
13)
The
Vendor have specifically agreed and covenant with the PURCHASERS that they shall
do all acts, deeds and things which are necessary and requisite to convey
absolute and marketable title in respect of the schedule properties in favour of
the PURCHASERS or their nominee(s).
14)
IT IS AGREED between the parties that
all expenses towards Stamp Duty and Registration charges shall be borne by the
PURCHASERS only.
15) The
PURCHASERS shall have the right to nominate or assign their right under this agreement
to any person / persons of his choice and the VENDOR shall execute the Sale
Deed as per terms and conditions of this Agreement in favour of the PURCHASERS
or their nominee or assignee. Time is essence of this agreement.
16) AND WHEREAS any and all controversy(ies)/
dispute(s)/ difference(s)/ claim(s)/ claim(s) in tort arising out of or in
connection with or in relation to this contract, including its existence,
validity or termination, during its existence or thereafter shall be referred
to and finally resolved by arbitration of a Sole Arbitrator nominated by the
Council for National and International Commercial Arbitration (CNICA) and its
Rules shall prevail. The award so rendered shall be final and binding on the
parties. The language shall be English and the venue shall be at --------.
SCHEDULE
All that
piece and parcel
of Vacant Plot No.----, measuring an
extent of -- Ground ---- sq.ft, (----
sq.ft), in ----- Nagar, Comprised in Survey No.----/--, as per Patta No.------
Sub –division Survey No.----/---
situated at ---------
Village, ------------- Taluk, ---------- District and
bounded on the
North by
: Plot No.-----
South by
: Previously Agricultural lands
now Apartments.
East by
: Road and
West by
: Plot No.-----
Measuring
North to
South on the
Eastern side : -- feet
North to
South on the
Western side : -- feet
East to
West on the
Northern side : -- feet
East to
West on the Southern
side : -- feet
Totally
measuring ------ sq.ft, and situated
with in the Registration District
of -------- and Sub-Registration District of
-------.
IN WITNESS WHEREOF THE
ABOVE PARTIES HAVE PUT THEIR SIGNATURE
OF THIS AGREEMENT OF SALE ON THE DAY,
MONTH AND YEAR HEREIN ABOVE MENTIONED IN THE PRESENCE OF:
WITNESSES:
1.
VENDOR
2.
PURCHASERS
***
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