Agreement for Sale of Apartment

AGREEMENT is made at…………..this…………day of…………between
Mr. A of………….hereinafter referred to as "the Vendor" of the one part and Mr. B of ……….. hereinafter referred to as "the Purchaser" of the other part.
WHEREAS
1. The Vendor is absolutely seized and possessed of the land and premises situate at………….and more particularly described in the Schedule hereunder written.
2. On the said land described in the First Schedule hereunder written there are certain buildings or structures.
3. The Vendor proposes to develop the said land by demolishing the existing structures and by constructing a new building in their place, as per the Building Plans hereinafter mentioned and to sell the flats in the said Building on Apartment Ownership basis.
4. The Vendor has obtained permission of the Competent Authority under section 22 of the Urban Land (Ceiling & Regulation) Act, 1976 by his order……….No…….dated…..
5. The Purchaser has agreed to purchase one flat or apartment in the said building being Apartment No………on the……….floor of the said building and having the specifications mentioned in the 2nd Schedule hereunder written at the price of Rs………………. (Rupees) only but subject to the provisions herein contained.
6. The Purchaser has examined the title of the Vendor to the said land and has seen the documents of title in the Vendor's possession and is satisfied with the Vendors title to the said property. The Purchaser has also taken inspection of the said order of the Competent Authority.
7. The Vendor declares that the said property is not subject to any encumbrances.
8. The title of the Vendor to the said property has been certified to be marketable by M/s……..Advocates and a copy of the said certificate is hereto annexed as Annexure 'A'.
9. The Purchaser declares that he has taken inspection of the plans and specifications of the proposed construction and which have been approved by the Municipal Corporation under No…….
10. The Vendor proposes first to enter into an agreement for sale of the said Apartment to the said Purchaser pending the construction of the said building.
11. The Purchaser has agreed to purchase and the Vendor has agreed to sell on ownership basis the said Apartment No……….on the……….floor in the said building, hereinafter referred to as "the said Apartment" on the following terms and conditions:

NOW IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS:
1. The Vendor shall, under normal circumstances, construct a building on the said plot of land more particularly described in the First Schedule hereunder written in accordance with the plans and specifications sanctioned by the Municipal Corporation of…………….and kept by him at the office of M/s Vendor's Architects at…….for inspection and the Purchaser has taken inspection of the same. A copy of the said plan is hereto annexed and marked 'B'.
2. The Purchaser agrees that the Vendor shall be entitled to make such variations therein as shall be required to be carried out by the Government or the Municipal Corporation of…….and other local body or authority and as may be necessary by the exigencies of the circumstances from time to time. The Purchaser has satisfied himself as to the title of the Vendor to the said land and premises and accepts the same and also accepts the Certificate of title to the said plot of land issued by the Advocates of the Vendor and a copy of which is hereto annexed and marked Annexure 'A'.
3. The Vendor shall sell and the Purchaser shall purchase the apart ment being Apartment No…………having a carpet area of approximately 	sq. feet, equal to……..square metres on the ……….floor of the building to be constructed on the said property and delineated on the plan thereof hereto annexed and marked Annexure 'B' and thereon shown surrounded by red coloured boundary line at or for a lump sum price of Rs………………………(Rupees…..) only (subject to what is provided hereinafter) and this lump sum price shall (subject as aforesaid) be final and binding and shall be independent and irrespective of the actual carpet area of the Apartment on completion of the Building. Out of the said amount a sum of Rs……….has been paid by the Purchaser to the Vendor on the execution of these presents and the balance will be paid by instalments as follows:
Rs.       on or before     
Rs.       on or before    
Rs.       on or before    
Rs.    being the balance against delivery of possession of the Flat to the Purchaser. The time will be the essence of the contract in case of each instalment.

4. Without prejudice to the rights and remedies of the Vendor under these presents and/or in law, the Purchaser shall be liable to pay interest at the rate of 12% p. a. on all the amounts due and payable by the Purchaser under this Agreement if such amounts remain unpaid for 7 days or more after becoming due-
5. The possession of the said Apartment shall be given by the Vendor to the Purchaser after the said building is ready for use and occupation and the building occupation or completion certificate shall have been obtained from the Municipal Corporation of……….or other concerned authority. 
Subject to the provisions of Clauses (6) & (7) hereof, the Vendor shall give possession of the said Apartment to the Purchaser on or before the........ day of………The Purchaser shall, within seven days of the receipt by him of the written notice from the Vendor that the said Apartment is ready for use and occupation and that the building completion certificate or occupation certificate has been obtained from the concerned authority, take possession of the said Apartment.
6. The Purchaser shall be entitled to take possession of the said Apartment as contemplated in Clause 5 hereof only if he has duly observed and performed all the obligations and stipulations contained in this Agreement and on his part to be observed and performed and has also duly paid to the Vendor all and whatsoever the amounts are payable by him under this Agreement.
7. Notwithstanding anything contained in this Agreement or in the above Clauses the Vendor shall not incur any liability if he is unable to deliver possession of the said Apartment on or before the……….day of ………..if the completion of the said building is delayed by reason of non availability of steel, cement or any other building material or on account of civil commotion, riot or any Act of God or on account of any notice, order, rule or notification of the Government and/or public body or authority or on account of withholding of or delay in the grant of the building completion or occupation certificate, water connection and/or any other necessary facilities, permission or sanctions by the Government,  the Municipal Corporation of…….and/or any such other or similar public body or authority or on account of any order of any Court affecting the construction work of the building by way of injunction or other restraint.
8. Nothing herein contained shall be construed as a grant in law to the Purchaser of the said plot and building to be constructed thereon or any part thereof until a formal deed of Apartment or Conveyance is executed as hereinafter mentioned.
9. On the Vendor informing the Purchaser that he has obtained occupation or completion certificate from the Municipal Corporation, the Purchaser shall not be entitled to refuse to take possession or delay in taking possession thereof on the ground that in the opinion of the Purchaser some work still remains to be done or completed in or in respect of the said Apartment or building. On taking possession the Purchaser shall have no claim against the Vendor as to any item of work viz. construction, designs, finishing or any other items or quality of work in the said Apartment. On the delivery of possession it shall be the sole responsibility of the Purchaser to maintain the Apartment in good and tenantable repairs in all respects at all times.
10. The Purchaser shall have no claim, save and except in respect of the said Apartment hereby agreed to be purchased by him to all the other structures on the said land, open spaces, parking places, lobbies, stair cases, lifts, terrace etc. which will remain to be the property of the Vendor until all the Apartments are sold and transferred to the purchasers thereof and the Declaration if any required and Deeds of Apartment are executed and an Association is formed as provided in the Apartment Ownership Act,
11. Notwithstanding anything herein contained, upon notice in writing from the Vendor calling upon the Purchaser to take possession of the said Apartment, the Purchaser shall be liable to contribute a monthly sum of Rs- 	on account of or against the outgoings in respect of the said property, such as all rates, taxes, assessments, dues, duties and impositions of any kind or nature whatsoever in respect of the said land and or the building thereon or any part thereof as may be charged or imposed by Government and/or the Municipality and/or any other competent authority as well as wages of watchmen, mali and sweeper and other expenses of common benefit irrespective of the fact whether or not the Purchaser has actually taken possession of the Apartment, upon notice as aforesaid and until such time all the flats to be constructed are sold to the buyers thereof. Thereafter, the Purchaser shall also continue to be liable to contribute to all such common expenses as aforementioned during all the time he would be entitled to the said Apartment and his contribution shall be in proportion to the area of the Apartment and as the Association of the Apartment owners shall from time to time decide,
12. The Vendor shall comply with the provisions of Apartment Owner ship Act, (hereinafter referred to as the said Act) and subject thereto, it is hereby expressly agreed and declared that the purchasers of all the flats and the premises in the said building including the Purchaser herein shall join and form an association as contemplated by the said Act and the Purchaser agrees to join such association or society. On the completion of the building and receipt by the Vendor of the full price of all the flats/car parkings places and other premises in the said building under this and similar agreements in respect thereof and all other charges and deposits payable by each purchaser to the Vendor under this Agreement and similar agreements, with other Apartment Purchasers the Vendor shall convey and
assign all his rights, title and interest in each Apartment to each purchaser including the Purchaser herein free from all encumbrances. However, the Vendor will not be obliged to execute the Deed of Apartment until such time as all the flats and premises are sold. The Purchaser shall be liable to contribute to and at the time of the execution of this Agreement deposit and keep deposited with the Vendor a sum of Rs………..towards legal costs (exclusive of stamp duty and registration charges of the Deed of Apartment), in connection with the execution of this and other documents required to be executed. All the legal expenses including the expenses of Stamp duty and Registration charges will be borne by the Purchaser alone.
13- All costs charges and expenses of preparing, engrossing stamping and registering all the Agreements, Conveyances. Deeds or any other document or documents required to be executed by the Vendor or by the Purchaser as well as the entire professional costs of the Advocates of the Vendor in preparing and approving all such documents shall be borne by the Purchaser in proportion to the area which the flat agreed to be sold bears to the total built up area of the building.
14. The Deed of Apartment to be executed in favour of the Purchaser will be in the form prepared by the Vendor's Advocate and the form will be common to all the flat purchasers in the said building. The Vendor will furnish a copy of such draft of Deed of Apartment and after approval the Purchaser shall get the same engrossed and stamped and the Vendor will sign the same. It will be the responsibility of the Purchaser to lodge the same for registration.
15. The Vendor shall, provided he does not in any way adversely affect or prejudice the right created in favour of the Purchaser in respect of the said Apartment, be at liberty to sell, assign or otherwise deal with his own interest in the said land and building and every or any part thereof. Any such deal shall be subject to the terms of this Agreement.
16. Any delay or indulgence by the Vendor in enforcing any of the terms of this Agreement or any forbearance or giving of time to the Purchaser shall not be construed as a waiver on the part of the Vendor of any breach or non- compliance of any term and condition of this Agreement by the Purchaser nor shall the same in any manner prejudice the right of the Vendor.
Pending the transfer of the said Apartment to the Purchaser, the Purchaser shall not agree to let, or transfer or assign or give on Leave and License the said Apartment till all dues payable to the Vendor have been fully paid and discharged and with the previous consent in writing of the Vendor which consent shall not be unreasonably withheld.
17. The Vendor hereby covenants with the Purchaser that upon his paying the Vendor's dues and performing the terms of this Agreement and stipulations herein contained, the Purchaser shall peacefully hold and enjoy the Apartment forever without any interference by the Vendor or any person rightfully claiming under or in trust for the Vendor.
18. The Purchaser covenants with the Vendor and through him with the purchasers of the other flats or premises in the said building that the Purchaser on getting possession of the said Apartment shall not demolish or cause to be demolished any construction work in or about the said Apartment or any part or portion of the same nor shall the Purchaser at any
time make or cause to be made any new construction or work of whatsoever nature in or about the said Apartment or any part thereof nor will he make any additions or alterations to the said Apartment without the previous consent in writing of the Vendor or in contravention of any Municipal Rules and Regulations nor without such consent or in such contravention as aforesaid, close lounges and any balcony, effect any alterations in the elevation or change the colour, scheme of the exposed walls of the varandas lounges or external walls.
19. The Purchaser shall do all acts, and things and sign and execute all other documents and papers as shall be incidental to the due carrying out the performance of the terms of this Agreement and for safeguarding the interests of the Vendor and other purchasers of Apartments in the said building as the Vendor may require him to do and execute from time to time.
20. The Purchaser shall duly observe and perform all the rules and regulations which the Association of Apartment Owners may adopt at its inception and from time to time and at all times for fully and effectively vesting the management of the building and otherwise observe all stipulations and conditions laid in respect of the use and occupation of particular fiats by particular members and to ensure regular and punctual payment of contributions and charges. The Purchaser shall observe all the rules and regulations which (he Vendor may frame and bring into force for the like purpose as aforesaid including rules and regulations regarding parking of cars, storing of materials and goods outside the Apartments, playing games likely to cause damage, injury, nuisance and other similar matters over the interim period until all the Apartments are sold, the building is completed and Association is formed.
21. The balance if any of the deposits paid by the Purchaser to the Vendor under clauses 11 & 12 above in the Vendor's hands, after defraying the expenses in the said clauses mentioned shall be paid and transferred by the Vendor to the respective flat owners after transfer of the said property is complete. The said deposits shall not carry any interest,
All letters, receipts and/or notices will be issued by the Vendor and despatched under certificate of posting to the following address of the Purchaser and if so despatched it will be sufficient proof of receipt of the same by the Purchaser and shall effectually discharge the Vendor. Address:
22. The Purchaser shall not use or permit to be used the said Apartment for any purpose other than residential purpose (or as the case may be) and the Purchaser shall not cause or permit to be caused any nuisance or annoyance to the occupiers of other flats and Apartments in the said building. The Purchaser shall not be entitled to use any parking or other space in the compound of the building, for parking his vehicle, except any parking space he may have agreed to purchase, and his right to park the vehicle will be subject to the rules and policy of the condominium.  
23. If any question or difference whatsoever shall arise between the parties hereto or their respective legal representatives or between any of the parties hereto and the legal representatives of the other of them touching this Agreement or any matter or things contained or the construction thereof or as to any matter in any way connected therewith or arising thereout or the operation thereof or the rights and liabilities of either of the parties then and in any such case the matter in difference shall be referred to arbitration and such arbitration shall be governed and be subject to the provisions of the Indian Arbitration Act, 1940, or any statutory modifications or re-enactment thereof for the time being in force.
Subject to the other provisions of this Agreement the sale of the said Apartment will be completed within……..weeks from the date of completion of the building and the occupation certificate being issued by the Municipal Corporation.
24. The Vendor and all other necessary parties, if any interested in the said property shall make and execute the Deed of Apartment (Deed of Conveyance) in terms of the draft to be prepared by the Vendor's Advocate as aforesaid.
25. The Vendor shall pay all the outgoings including ground rent, taxes, etc. pertaining to the property upto the date of the occupation certificate of the flat, and the same, if necessary may be apportioned as on the said date between the Vendor on the one hand and the Purchaser and other purchasers of the other Apartments on the other hand.
26. The Vendor shall satisfy the Purchaser that there are no notices issued by the Government or Municipal Corporation or any other Public Body for carrying out repairs to the said property and if such notice is issued prior to the completion of the sale the Vendor shall comply with the same at his expenses.

27. If before the completion of the sale of the said Apartment to the Purchaser the said whole building including the said flat is notified by the Government or any other authority for acquisition or. requisition the Purchaser will not be entitled to cancel this Agreement but in the case of acquisition of the whole building including the said Apartment the Purchaser will be entitled to a refund of the amount paid by him to the Vendor under this Agreement as the price of the said Apartment or to a proportion ate part thereof in case the compensation awarded for the property is less than the cost incurred by the Vendor in the construction of the building including the price of the land, out of the compensation if and when awarded by the Government or other authority (but not otherwise), in the case of requisition of the said Apartment the Purchaser will be entitled to the compensation that will be awarded by the requisitioning authority and save as aforesaid all his liabilities under this Agreement and subsequently as the owner of the said Apartment will continue to subsist. 
28. The Purchaser shall, alongwith or prior to the execution of the Deed of Apartment (Sale) execute a Declaration to the effect that he submits his Apartment to the provisions of the Apartment Ownership Act, in the form prescribed by or under the said Act and will abide by the terms thereof. 
29. The sale of the said Apartment shall be subject to the provisions of the said Apartment Ownership Act, and the Rules made hereunder and the said Declaration and the Purchaser shall be bound by the same. 
30. The Purchaser shall also join the Association of the Apartment Owners in the said building and will be bound by the bye-laws of such Association.
31. If the Purchaser fails to complete the Purchase of the said Apartment in terms of this agreement within the lime stipulated herein for completion, the Purchaser shall forfeit the said earnest money and will be liable to pay proportionate costs, charges and expenses and damages incurred by the Vendor.
32. If the Vendor wilfully fails to complete the sale within the stipulated time, the Vendor will be liable to refund to the Purchaser the amount of earnest money and all other moneys paid to him by the Purchaser forthwith with interest at 12% p. a. till repayment and all costs, charges and expenses incurred by the Purchaser of and incidental to this Agreement till then.
33. If any additional F. S. I. becomes available at any time but before the execution of the Deeds of Apartments the Vendor will be entitled to put additional construction on the said building as may be allowed by the Municipal Corporation and to sell or otherwise deal with same and the Purchaser will not object to the same and will not be entitled to any benefits arising out of the same. If any such additional construction is sold by the Vendor as Apartment, the Purchaser thereof will be entitled to join the said Association and the Purchaser herein will not object to the same.
34. The Vendor shall be the Promoter in respect of the said construction work within the meaning of the Apartment Ownership Act.
IN WITNESS WHEREOF the parties hereto have hereunto put their respective hands the day and year first hereinabove written.
THE SCHEDULE ABOVE REFERRED TO
Signed and delivered by the
withinnamed  Vendor
in the presence of
Signed and Delivered by the
withinnamed   Purchaser
in the presence of