Agreement For Sale
THIS AGREEMENT of sale made at Janakpuri, New Delhi- 110012 on this 22nd day of
- Mr. Sagar Kathori, (Aadhar no. ************) Son of Mr. Shyam Kathori, aged
about 45 years, residing at Janakpur, New Delhi- 110012, herein called the
Mr. Ashish Manoharan, (Aadhar no. ************) Son of Mr. Ramesh Manoharan,
aged about 45 years, residing at Janakpur, New Delhi- 110012, herein called the
WHEREAS the Vendor is absolutely seized and possessed of or well and
sufficiently entitled to the house more fully described in the Schedule
AND WHEREAS the Vendor has agreed to sell his house to the Purchaser on the
terms and conditions hereafter set-forth.
- Earnest Money and Forfeit of Earnest Money
Whereas the purchaser has paid a sum of Rs 10 lakhs (Rupees Ten Lakhs Only) as
Earnest Money Deposit out of Rs. 26 Lakhs (Rupees Twenty Six Lakhs Only) in
consideration on 22nd Day of April 2020 (receipt of which sum, the vendor hereby
acknowledges) and whereas the remaining amount of consideration shall be paid at
the time of execution of conveyance deed. In any circumstances the purchaser
herein mentioned as the Second Party fails to pay the remaining amount of Rs. 16
Lakhs (Rupees Sixteen Lakhs Only), the First Party shall be at a liberty to
forfeit the Earnest Money paid by the purchaser under this agreement.
- Representation and Warranty Clause by both Buyer and Seller
- The First Party assures the Second Party that, the First party has not
been included in past in any kind of act where the ownership of this
property could be impaired or challenged, or which could stop the transfer
of ownership from First party to the Second party.
- The First Party hereby declares and represents that the property is not
subject to any Hindu Undivided Family (HUF), no part of the said
property is owned by any other person other than the First Party mentioned in
- The FIRST PARTY assures that the said property is free from all kinds of
encumbrances such as Gift, prior sale, Mortgage, Trust, Will, Exchange,
legal flaw, Leases, claims, prior Agreement to Sell, Surety, Loan, Security,
court injunction, lien, litigation, stay order, notices, charges, family or
religious dispute, and acquisition.
- That in case the ownership of the Second Party is hindered due to any
such reasons mentioned in Clause 3(iii), the First Party shall compensate
the loss suffered by the second party.
- Termination of Deal before Actual Sale
- That both the Parties cannot terminate the Agreement without giving a 15
days prior notice before the actual sale. The Party who terminates the deal
by serving a notice before 15 days shall pay the damages in form of
compensation, in case the Party does not not give notice within 15 days, the
agreement cannot be aborted, unless by paying Exemplary damages. ( For the
purpose of provision of this clause Exemplary Damages are more than the
usual damages to set a example in society)
- The First Party is obligated to ensure Clear title of the Proper before
- The Second Party should arrange the balance of payment which forms the
part of consideration
- That the Party at default shall admit its liability and in any such
event of encumbrances or in case the sale gets aborted or terminated (under
clause iv) then defaulting Party shall pay the amount of Rs 26 lakhs (Twenty Six Lakhs)
apart from interest and damages to other Party.
SIGNED BY THE WITHINH NAMED
IN THE PRESENCE OF ……………..
SIGNED BY THE WITHIN NAMED
IN THE PRESENCE
Answer To Questions:
- While transferring the title of your property to another person, you
will be charged property stamp duty. This is a fee that is levied by the
state government on the documents you need to register your property. Stamp
duty and Registration Charges differ from one state to another. You will
have to pay Stamp duty while registering a property as it is mandatory under
Section 3 of the Indian Stamp Act, 1899
As mentioned earlier, there are many factors that determine the stamp duty
charge you’ll land up paying. The bottom line is that stamp duty charge is
- considering the total market value of the property. If the market value
of your property is high, you will land up paying a high charge and vice
versa. In case you have both the market value and the agreement value of the
property, whichever is higher will be charged.
- Apart from the cost or the value of the property, the type of the
property, location of the property, gender and age of the owner, usage of
the property, and the number of floors in the property all determine the
property registration fee and stamp duty charges.
- Generally, stamp duty officials use Stamp Duty Ready Reckoner to fix
the value of the property. The Stamp Duty Ready Reckoner is published by the
concerned state government every year on 01 of January.
- Discussed in above clause (iii) and (iv)
- Suit for Price
- Damages for non-acceptance.
- Damages for Non- Delivery.
- Remedy for Breach of Warranty.
- Specific Performance.
- Suit for repudiation of contract before date or anticipatory breach.
- Interest by way of damages and special damages.
- A sale deed is an actual transfer of property ownership - there is a conveyancing, and it has to be stamped accordingly.
A sale agreement is a promise of a future transfer of property ownership, once
construction is complete and other approvals are obtained.