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AGREEMENT OF SALE


This AGREEMENT OF SALE is made and executed on this _______________
(00/00/0000) at ________:
BETWEEN:
1. _______________ltd,
Rep. by _______________
_______________,
_______________
_______________.

[Hereinafter referred to as the FIRST PARTY/OWNER

(The expression FIRST PARTY/OWNER/VENDOR wherever it so requires
shall unless it be repugnant to the context or meaning thereof mean and
include their legal heirs, legal representatives, executors, administrators,
successors and assignees etc.,) of the FIRST PART:

M/S _______________
A Company incorporated under the Companies Act 1956,
Having its Corporate Office at: _______________,
_______________,
_______________
_______________.

Represented by its Managing Director,
_______________ [

Hereinafter referred to as the CONFIRMING PARTY

(The expression CONFIRMING PARTY wherever it so requires shall
unless it be repugnant to the context or meaning thereof mean and include
its legal representatives, executors, administrators, successors and
assignees etc.,) of the FIRST PART:




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AND:

2. _______________,
Aged about _____ years,
W/o. _______________,
R/at. No _______________
_______________,
_______________.

Hereinafter referred to as the SECOND PARTY/PURCHASER

(The expression SECOND PARTY/PURCHASER wherever it so requires
shall unless it be repugnant to the context or meaning thereof mean and
include his legal heirs, legal representatives, executors, administrators,
successors and assignees etc.,) of the OTHER PART:



WITNESSES AS FOLLOWS:

WHEREAS, the Confirming Party has vast experience in the field of
development of Real Estate/establishment of Apartments, Residential Plots
etc., the various parts of Karnataka State and other places to suit the
customary and Luxurious Style of living and the Purchaser/s are fully
satisfied as to the standing and credibility of the Confirming Party and also
aware that _______________ _______________., has successfully completed a
number of projects to the satisfaction of their clients.


WHEREAS, the Vendor has agreed the exclusive Marketing rights in favour
of the Confirming Party i.e, M/s _______________., that the _______________
layout is developed by the Vendor/Owner, shall have exclusively marketed
by M/s _______________., Hence, it has been made as Confirming Party to
execute this Sale Agreement.






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WHEREAS the Vendor is the absolute owner of immovable property bearing
Sy.No. _______________ measuring to an extent of _______________ Acres
situated at _______________,_______________,_______________,_______________
which is more fully described in Schedule A hereunder and herein after
referred and called to as Schedule A Property, having acquired in terms of a
Sale Deed dated _______________ vide Document Nos. _______________
registered at the office of the Su-Registrar, _______________. Ever since then
the Vendors herein are in peaceful possession and enjoyment of the
Schedule B Property in its entirety.
WHEREAS the Deputy Commissioner, Bangalore District has converted the
nature of the Schedule B Property from agricultural to non-agricultural
residential purpose vide Official Memorandum Nos. _______________ on
payment of requisite fee as fixed by the said authority.
WHEREAS, the VENDORS/OWNERS have formed a Residential layout
known as _______________ consisting with different dimension plots in
Sy.No. _______________, situated at situated at _______________,
_______________ _______________ _______________ _______________, which is
more fully described in the Schedule A hereunder and hereinafter referred
and called to as Schedule A Property.
WHEREAS the Vendors/Owners are in fully seized and possessed of the
Schedule A & B Properties as mentioned above having absolute power and
authority to sell or otherwise dispose of the same in favour of any person
and other than Vendors/Owners, no one else having Right, Title and
Interest over Schedule A & B Properties.
WHEREAS, the Second Party/Purchaser has approached the party of the
First Part/Vendors and Confirming Party with divulging his intention to
purchase a Residential Plot and has selected the residential Plot bearing
No. _____, _____ Sq.ft, forming in the Schedule A Property, which is more
fully described in the Schedule B hereunder and hereinafter referred and
called to as the Schedule B Property. Wherein the First Parties/Confirming
party are also agreed to sell the Schedule B Property for a valuable sale
consideration.
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WHEREAS the parties herein have decided to enter into an Agreement in
writing as to the specific terms and conditions of sale of plot to the Second
Party by the party of the First Part, now it is mutually agreed as
hereunder.+



NOW THIS AGREEMENT OF SALE WITNESSETH AS FOLLOWS:

On mutual understanding and consent of both the parties of the First Part
and the Purchaser herein this Agreement of Sale is carried the following
terms and conditions on both the parties as applicable.

[
1. The Purchaser has agreed to purchase the Plot in the layout formed in
the Schedule A Property and more particularly described in the
Schedule 'B' Property herein, and the Purchaser shall pay the sale
consideration of the Plot as per the payment schedule averred in the
table hereunder in respect of the Schedule 'B' Property. [


Sl.
No.
Description Amount(in
rupees)
1. The basic cost of the Residential Plot No. _____,
measuring _____ Sq.ft. in SAMJI TOWN project.

00,00,000/-
2 Total Consideration: 00,00,000/-
3 Advance paid
00,00,000/-
4 Balance amount 00,00,000/-

The total Sale Consideration payable by the Purchaser for the purchase
of the Schedule B Property shall be Rs. 00,00,000/-/- (Rupees
___________ only). The Purchaser has paid Rs. 00,00,000/-/- (Rupees
___________ only). in the following modes:

a. Rs. 00,00,000/-/- (Rupees ___________ only)., paid by way of Cash ,
on dated __/__/__ __ at Bangalore.

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b. Rs. 00,00,000/-/- (Rupees ___________ only)paid through Cheque
bearing No: ___________, dated __/__/__ __ drawn on __________, as
an advance towards the sale consideration to the First Party and shall
pay the balance amount of Rs. 00,00,000/-/- (Rupees ___________
only) to the party of the First Part on the date of registration/on being
informed that the plot is ready for registration.


2. That the seller has assured and represented to the purchaser, that
the Vendors/Owners are the absolute owner and their predecessors-
in-title have been in continuous and undisturbed possession of the
Schedule B Property.

3. That the Schedule B Property is not subject to any, Charge,
encumbrance, court attachment or revenue attachment or acquisition
proceedings of what so ever kind.

4. That the Sellers have not entered into any Agreement or Agreement of
Sale or Transfer of the Schedule Property in favour of any person or
person/s whomsoever. That the Seller being the absolute owner of the
Schedule Property has good marketable and subsisting title to the
schedule property.

5. The purchaser hereby agreed to pay a sum of Rs.________/- ( Rupees
_______ Only), as a documentation and advocate fee in favour of the
Confirming Party.






[
6. Further the both the parties have agreed that, at the time of
registration the Second Party/Purchaser has to pay all the expenses
including stamp duty and registration charges.

7. If the Purchaser fails to pay the balance sale consideration within
______ (__) Days from the intimation by Owners that the plot is ready
for registration, the Vendors/Owners and Confirming Party are having
sole discretion to cancel this Sale Agreement without any further
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intimation and the agreement stands revoked with immediate effect.
Registration can be completed at any time after the payment of the
balance.

8. If the agreement is cancelled as in Clause.7 the Vendors/Owners will
return the advance amount paid by the Purchaser as on that day
within ____ days from the cancellation of the Agreement.
9. The Purchaser shall pay the said sale price on or before the date of
Registration. On receipt of the total sale price along with the other
maintenance/miscellaneous charges, the First party shall execute an
absolute sale deed in favour of the Purchaser/s forthwith.


10. That the total sale consideration amount payable by the Purchaser to
the Vendors/Owners does not include the Stamp Duty, Registration
Charges, taxes, Khatha transfer charges and any other miscellaneous
charges to complete the registration in favour of the Purchaser with
respect to the Schedule B property.

11. In the event of any defaults, violations of the terms and conditions of
this Agreement on the part of either PURCHASER or the OWNERS
each of the parties shall have the right to enforce specific performance
with respect to the terms and conditions of this Agreement against the
party who is in default.

12. The Purchaser shall bear and pay for outgoing levied on and expenses
for the maintenance, repair and effective operation of common area
and common facilities including common electricity and water
charges, common utilities network such as water, sewage, electricity,
telephone, satellite, cable TV, storm water, drainage, street lights,
roads, security, buses, garbage truck and any other facility or a thing
duly provided for the common use of the residents of the layout.








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13. Notwithstanding what is stated herein above, on failure on the part of
the First Party to perform its part due to the ACT OF GOD, ACT OF
NATURE, breakout of civil or other war, force majeure, shall not be
deemed to be a default or failure to specific performance within the
meaning of the expression herein before contained and in such case
the First party shall not hold any liabilities to the Second Party for
same.


14. The First Party has agreed to complete the developmental works in the
said residential layout as per the norms and regulations of the Local,
State, Central and other concerned authorities within the _____
months from the date of execution of the Sale Deed in favour of the
Purchaser with respect to the Schedule B Property.


15. It is mutually agreed that any disputes or differences between the
parties arising out of, or in connection with this agreement of sale
shall be decided through the arbitration of sole arbitrator; and if the
same fails only then by three arbitrators may be appointed i.e., one to
be appointed by each party and the two arbitrators appointing the
third arbitrator who shall be the presiding arbitrator. The venue of the
arbitration proceedings shall be at Bangalore and the provisions of the
Arbitration and Conciliation Act-1996 shall be applicable to such
proceedings.

16. In the event of any default, violations of the terms and conditions of
this Agreement occurred on the part of the Owners/Vendors, the
purchaser is having right to claim for Specific performance before the
concerned court of law with respect to the Plot/Villa Plot only if both
the parties fails to come to the conclusion in the arbitration
proceedings. However both the parties as the mandatory terms and
conditions shall not approach any court of law, consumer forum any
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other authority/tribunal without following the arbitration
proceedings.


17. That the Purchaser has to make his own vehicle arrangement for
going to the Sub-Registrar Office to register the Sale Deed, the
Vendors/Owners will not make any arrangement.

18. The Original of the agreement of sale shall be in the custody of the
Purchaser and photocopy of the same duly signed by both the parties
shall retain with the First Party.



SCHEDULE A PROPERTY
[COMPOSITE PROPERTY OF RESIDENTIAL LAYOUT]
All that piece and parcel of the properties bearing Survey Sy.No.____
_________, totally measuring ___ Acres situated at _________,
____________________________________ and all the lands mentioned above
converted from agricultural into non-agricultural residential purpose vide
different Official Memorandum passed by the Deputy Commissioner,
__________________, vide his order dated __________________bearing No.
________________________, with respect to plots formed in the above survey
numbers.



Bounded by:


East by : ________________________

West by : ________________________

North by : ________________________

South by : ________________________

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SCHEDULE B PROPERTY

[SUBJECT MATTER OF THE SALE AGREEMENT]

All that piece and parcel of the immovable property bearing Vacant
Residential Plot No. _____, formed in the Sy.No. _______________situated at
__________________, ______________________________, in the developed
Residential Layout known as ________________________ developed on the
entire Schedule A Property described hereinabove together with rights
appurtenances whatsoever whether underneath or above the surface.

Measuring to an extent of:

East to West : _____ feet.
North to South : _____ feet.
Measuring in all : _____ Square feet

Bounded by:


East by : ________________________

West by : ________________________

North by : ________________________

South by : ________________________







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IN WITNESS WHEREOF the parties herein have affixed their signatures to
this sale agreement on the day, month & year mentioned above.
WITNESSES:

1.




_______________________________________,
Rep. by __________________________________,
(VENDOR/OWNER)







2. _______________________________________,
Rep. by __________________________________,
(CONFIRMING PARTY)







_____________________
(SECOND PARTY/PURCHASER)