Agreement For Sale Of An Apartment - Legal Draft

This

Agreement made at ....................... this .............. day of

.............., 2000 between A, son of .............................. resident

of ........................ hereinafter referred to as the Vendor of the ONE

PART and B, son of ................... resident of ....................

hereinafter referred to as the Purchaser of the OTHER PART.Whereas

the Vendor is absolutely seized and possessed of the land bearing Plot

No............................ situated at .................. and

hereinafter referred to as the said land and more particularly described in the

Schedule 1 hereunder written;And

Whereas the Vendor proposes to develop the said land and for that purpose

obtained permission of the Competent Authority under section ........... of the

Urban Land (Ceiling and Regulation) Act vide his Order No

......................... dated .......................;And

Whereas the Vendor has submitted the building plans to the ....................

Municipal Corporation, which have been approved by the ....................

Municipal Corporation vide letter No ............................ dated

............. subject to certain conditions laid down in the said letter;And

Whereas the Vendor has started the construction of the buildings as per the

building plans approved by the .................... Municipal Corporation

enclosed herewith at Annexure 1;And

Whereas the Vendor has agreed to sell one apartment on the ...............

floor in the building No................. being constructed and having the

specifications mentioned in the Schedule 11 hereunder written at a price of Rs

................... (Rupees ................................. subject to the

terms and conditions hereinafter appearing.And

Whereas the Purchaser has inspected the documents relating to the land, the

order of the Competent Authority, site plans approved by the

.................... Municipal Corporation and is satisfied about the Vendor's

title to the said property and the site plans of the proposed buildings;And

Whereas the title of the Vendor to the said property has been certified to be

clear, marketable and free from encumbrances by M/s.

................................. Solicitors and Advocates...................

and a copy of the said title certificate is hereto annexed at Annexure II ;And

Whereas the Vendor has agreed to sell and the Purchaser has agreed to purchase

the Apartment No..on the............. floor in the building

No.................... hereinafter referred to as the said Apartment on the following

terms and conditions.Now

this Agreement Witnesseth and it is Hereby Agreed by and Between the Parties as

Follows:1.

The

Vendor shall construct the said building on the said plot of land, more

particularly described in the Schedule 1, in accordance with the plans, designs

and specifications approved by the .................... Municipal Corporation

and which have been seen and approved by the Purchaser and kept by the Vendor

at the office of M/s. ...................... Architects at

......................... for inspection. The Vendor shall be entitled to make

such variations and modifications as he may consider necessary or as may be

required by the .................... Municipal Corporation of the Government of

.. or any local authority.2.

The

Vendor agrees to sell and the Purchaser agrees to purchase the Apartment

No.......................... on ........... floor in the building No

................ of Carpet Area admeasuring ............. sq. metres as

delineated on the plan thereof hereto annexed and marked Annexure Ill and

thereon shown surrounded by green coloured boundary line at or for a sum of Rs

........... (Rupees ......................... ). The Purchaser agrees that out

of the said amount of Rs ................... to be paid by him to the Vendor, a

sum of Rs............ has been paid by the Purchaser to the Vendor on the

execution of these presents (the payment and receipt the Vendor doth hereby

admit and acknowledge) and the balance will be paid by installment as follows:1. Rs

.......................... on or before ..........................2. Rs

.......................... on or before ..........................3. Rs

.......................... on or before ..........................4. Rs

.......................... being the final balance on the delivery ofthe

apartment by the Vendor to the purchaser. the amounts payable under these

presents are not paid within the time stipulated, the Purchaser will be liable

to pay interest at the rate of 18% per annum from the due date of payment to

the date of payment.1.2.3.

The

Vendor shall deliver the possession of the apartment to the Purchaser on or

before ................... day of ..............., 2000. The vendor shall

obtain the completion and occupation certificate in respect I the said

apartment from the .................... Municipal Corporation. The purchaser

shall take possession of the apartment within one week of ) a receipt of the

notice of the Vendor to the Purchaser that the said apartment is ready for use

and occupation and that the completion certificate and occupation certificate

has been obtained from the .................... Municipal Corporation;Provided

that the Vendor shall be entitled to reasonable extension time for delivery of

possession of the Apartment on the aforesaid ate, if the completion of the said

building is delayed on account of non- availability of steel, cement, other

building material, water or electric supply or on account of war, civil

commotion or act of God or any notice, order, rule, notification of the

Government, .................... Municipal Corporation and/or other public or

competent authority or on account of non-issue of building completion or

occupation certificate - water or electricity connection or on account of any

order of any Court affecting the construction work of the building. he Vendor

will deliver the possession of the apartment to the Purchaser only if the

Purchaser has paid all the amounts payable by him under this Agreement to the

Vendor and if he has duly observed and performed all obligations and

stipulations contained in this Agreement and on his part to be observed and performed.4.

The

Purchaser hereby declares and undertakes that he shall have no claim, save and

except in respect of the said Apartment hereby agreed to be purchased by him

and the Vendor shall continue to be entitled to the property in all the

structures on the said land, open spaces, parking places, lobbies, staircases,

lifts, terrace, etc., until all the apartments are transferred to the

purchasers and the Declaration of Deeds of Apartment is executed and the

condominium is formed as provided in the .. Apartment Ownership Act.5.

Till

the Purchaser takes the possession of the Apartment, the Purchaser shall be

liable to pay a sum of Rs . ................. per month as his share on account

of rates, taxes, assessments, dues, duties and impositions of any kind or

nature whatsoever in respect of the said land or the building constructed

thereon or any part thereof payable to the Government of ....................,

.................... Municipal Corporation or any other authority and wages of

watchmen, sweepers, mali, and other expenses of common benefit. After the

Purchaser takes the possession of the Apartment, he shall be liable to

contribute proportionate share for common expenses as aforementioned, as

decided by the Association of the Apartment Owners from time to time.6.

The

Vendor agrees that he shall comply with the provisions of section 10 of the

.................... Ownership Flats (Regulation of the Promotion of

Construction, Sale, Management and Transfer) Act, 1963 (hereinafter referred to

as the .................... Apartment Ownership Flats Act, 1963) and the

.................... Apartment Ownership Act, 1970 and shall execute a

Declaration as provided by section 11 of the .................... Apartment

Ownership Act, 1970 and register it with the Registering Officer under Indian

Registration Act and the Purchaser hereby agrees that he shall join and form an

association of all the apartments in the said building as contemplated by the

.................... Apartment Ownership Act.7.

The

Vendor shall convey and assign all rights, title and interest in each apartment

to each purchaser after the completion of building and on receipt of all

payments, price, deposits payable by the Purchasers to the Vendor in respect of

all apartments/car parking spaces and other premises in the said building.8.

The

Purchaser shall on or before the delivery of possession of the said apartment

keep deposited with the Vendor a sum of Rs. ................. towards legal

charges, expenses of formation of Association and execution of these presents

and other documents a required to be executed. The Purchaser shall also be

liable to pay expenses on account of stamp duty and registration charges in

respect of the Deed of Apartment.9.

Any

delay or indulgence on the part of the Vendor in enforcing any of the terms of

this Agreement or any forbearance or giving time by the Vendor to the Purchaser

shall not be considered as a waiver on the part of the Vendor and he shall be

entitled to take action against the Purchaser for the breach or non-compliance

of any terms and conditions of this Agreement by the Purchaser.10. The

Purchaser shall not be entitled to let, mortgage, create charge or assign the

said Apartment, pending the transfer of apartment, to him without the consent

of the Vendor in writing. etc.11. The

Purchaser shall use the apartment or any part thereof or permit the same to be

used only for the purpose of residence and the Purchaser hereby covenants with

the Vendor as follows.-a. He

shall maintain the apartment at his own cost in good tenantable repair and

condition from the date of taking over possession of the apartment and shall

not do or suffered to be done anything in or to the building in which the

apartment is situated, staircase or any passage which may be against the rules,

regulations, or bye-laws of .................... Municipal Corporation or any

other authority or change/alter or make addition in or to the building in which

the apartment is situated and the apartment itself or any part thereof.b. He

shall not demolish or cause to be demolished the apartment or any part thereof

nor at any time make or cause to be made any addition or alteration of whatever

nature in or to the apartment or any part thereof.c. He

shall observe and perform all the rules and regulations which the Association

of Apartment Owners may adopt at its inception and the additions, alterations

or amendments thereof that may be made from time to time for protection and

maintenance of the said building and the apartments therein. The Purchaser

shall also observe and perform all the stipulations and conditions laid down by

the Association of Apartment Owners regarding the occupation and use of the

Apartment in the building and shall pay and contribute regularly and punctually

towards the taxes, assessments, dues, duties and impositions, expenses or other

outgoings in accordance with the terms of this Agreement.1.2.3.4.5.6.7.8.9.10.11.12.13. The

Vendor hereby covenants with the Purchaser as under:-a. Subject

to the Purchaser paying all sums payable to the Vendor under this Agreement and

performing and observing the terms and conditions of this Agreement, the

Purchaser shall be entitled to peaceably hold and enjoy the Apartment without

any interference or obstruction by the Vendor on any person claiming under or

in trust for the Vendor.b. The

Vendor shall maintain a separate account in respect of sums received by the

Vendor from the Purchasers of the Apartments as advance or deposit sums

received on account of the legal charges and execution of other documents

required to be executed, and shall utilise the amounts only for the purposes

for which they have been received and after transfer of the said property, the

balance amounts shall be paid and transferred by the Vendors to the flat

purchasers.c. The

Vendor shall pay all outgoings, including ground rent, taxes, assessments,

dues, duties, impositions and outgoings upto the date of delivery of the

possession to the flat owners and transfer of the building is complete.1.2.3.4.5.6.7.8.9.10.11.12.13.14. The

Deed of Apartment shall be made and executed by the Vendor, and other persons

having any right or interest in the said property.15. If

before the completion of transfer of the building, the building including the

apartment is notified by the Government under the Land Acquisition Act or any

other law for the time being in force for acquisition or requisition, the

Purchaser shall not be entitled to cancel this agreement and in case of

acquisition of the building including the said apartment, the Purchaser shall

be entitled to a proportionate part of the compensation if and when awarded by

the Government or any other authority. If the said apartment is requisitioned

by the Government or any other authority, the Purchaser shall be entitled to

the compensation awarded by the requisitioning authority in respect of the

apartment.16. This

Agreement shall not be construed as a grant, demise or assignment in law of the

said apartment or of the said land and building or any part thereof.17. The

Purchaser shall execute a Deed of Declaration in the prescribed form along with

or prior to the execution of Deed of Apartment to the effect that he submits

his apartment to the provisions of the .................... Apartment Ownership

Act.18. The

Sale of the said Apartment shall be subject to the provisions of

.................... Apartment Ownership Act and rules made thereunder.19. The

Vendor shall be entitled to construct additional building or buildings in the

said land, if any additional Floor Space Index (FSI) becomes available before

the completion of the transfer of the said )and with buildings and allowed by

the .................... Municipal Corporation and the Vendor shall be

authorised to sell the same and the Purchaser will not be entitled to any

right, benefit or interest on the same.20. All

notices to be served on the Purchaser as contemplated by this Agreement shall

be deemed to have been duly served to the Purchaser by Registered Post A.D. at

his address specified below:Viz

......................................-------------------------------1.2.3.4.5.6.7.8.9.10.11.12.13.14.15.16.17.18.19.20.21. This

Agreement shall be executed in triplicate. The original copy shall be lodged

for registration by the Purchaser and the vendor shall admit execution before

the Sub-Registrar and the Second and Third copy shall be retained by the

Purchaser and vendor respectively. The original copy of this Agreement will be

received by the Purchaser from the Registrar as and when ready after

registration.IN

WITNESS WHEREOF the parties hereto have hereunto put their respective hands the

day and year first hereinabove mentioned.The

Schedule I above referred toThe

Schedule II above referred toAnnexure

IAnnexure

IIAnnexure

IllSigned

and delivered by the within named VendorSigned

and delivered by the within named PurchaserWITNESSES;1.2.