Agreement for Sale of Flat

THIS AGREEMENT made at ------------- this ------- day of ------------- 2002 between -------------
Limited, a Company registered under the Companies Act, 1956 and having its registered office
at ------------------------------------------- (hereinafter referred to as the Vendor) which expression
unless repugnant to the context shall be deemed to refer and include its successors-in-title of
the ONE PART and ----------------------------------------, a Company registered under the
Companies Act, 1956 and having its registered office at
-------------------------------------------------------------------

(hereinafter referred to as

the Purchaser) which expression unless repugnant to the context shall be deemed to refer

and include its successors and assigns of the OTHER PART:

W H E R E A S
(i) The Vendor is a registered holder of ---(----) shares of the face value of Rs.----/=
each bearing distinctive numbers ----- to -----(both inclusive) hereinafter called "the said
Shares") under Share Certificate No.--- issued by the ------------------------------- a S
ociety

registered

under the provisions of the Maharashtra Co.Operative Societies Act

XXIV of 1961 (Registration No.--------------------), and having its registered office at
-------------------------------------- (hereinafter

referred

to

as

'the

said

Society')
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Agreement for Sale of Flat

and as such shareholder the Vendor is entitled to the use, occupation, possession and
enjoyment of a Flat bearing No.---admeasuring --------------- sq.mtrs (approx.)(carpet area) and
--------------sq.mtrs (approx.) (built up area) on the ------- floor (---------- side) in the building of the
said Society known as ----------------- situate at ---------------------------- Road, Mumbai -----------
bearing CTS No. ---------------------- of the ------------------------------------- Division, Mumbai
(hereinafter referred to as the `said premises') more

particularly set out in the

Schedule

hereunder written.

(ii) The Purchaser has approached the Vendor and has requested the Vendor to sell
and transfer to it the said Shares and as incidental thereto the right to use, occupy, possess and
enjoy the said flat bearing No. --- (hereinafter referred to as 'incidental rights to the
said premises') which the Vendor has agreed to do so on certain terms and conditions mutually
agreed upon by and between them in the manner hereinafter appearing.

(iii) The Vendor has represented to the Purchaser that the Vendor had entered into a
Memorandum of Understanding dated ----------------------- with -------------------------- Limited, a
Company registered under the Companies Act, 1956 and having its registered office at
---------------------------------------------------- (hereinafter referred to as --------) under
with which it was agreed that upon the Vendor herein becoming the owners of the said flat with
all requisite documentation in that behalf having been executed viz. The Declaration by the
landlords under the provisions of the Maharashtra Apartment Ownership Act and the execution
of the Deed of Apartment and the registration thereof and within 15 days of all such formalities
being completed in all respects, the Vendor herein would agree to sell and -------would agree to
purchase the said flat and in this behalf the Vendor herein and -------- as the Purchasers would
execute an Agreement for Sale or Memorandum of Intention wherein the Vendor herein would
be the Vendor and ---------- would be the Purchasers in respect of the said flat on the terms and
conditions set out therein.

(iv) The Vendor herein was required to make all necessary endeavour to complete the
execution of all requisite documentation as was required to be done by the landlords including
the filing of the Declaration under the Maharashtra Apartment Ownership Act and the execution
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Agreement for Sale of Flat
of the Deed of Apartment in favour of the Vendor herein.
(v) For diverse reasons the Vendor herein and ------- have not proceeded further the
sale process of the said premises and have entered into a further understanding in terms of
which it has been agreed to inter se between the Vendor herein and -------- that the said
premises shall be sold and the Vendor herein shall give proper and effectual right, title, interest
in the said premises to the intending purchaser with the sale consideration being drawn in
favour of --------- for which --------- would be willing to confirm the receipt thereof and relinquish
its rights whatsoever, in the said premises and the Vendor herein would do all acts, deeds and
things as may be necessary and expedient to give full and effectual title of the said premises to
the intending purchaser of the said premises.
(vi) The Vendor has agreed to enter into this Agreement and to execute the
conveyance of the said premises in favour of the Purchaser on the Purchaser having signified
its acceptance to representation had been made hereinabove and having agreed to abide by
the same.
(vii) This writing is an intended transfer of the right title and interests in the said
premises and subject to the clearance under Section 269 UC of the Income Tax Act, 1961.
However, in view of amendment to Section 269 UC of the Income Tax Act, issuance of No
Objection Certificate under Section 269 UL(3) has been repealed and as such no
permission is required to be applied for .
NOW THIS AGREEMENT WITNESSETH AND IT IS HEREBY AGREED BY AND BETWEEN
THE PARTIES HERETO AS FOLLOWS:-
1. The Vendor shall sell and transfer to the Purchaser and the Purchaser shall accept and
take over from the Vendor, the Vendor's shareholding in the Society in respect of the said
Shares issued under Share Certificate No.--- by the said Society together with the incidental
right to use, occupation, possession and enjoyment of Flat No. ----- admeasuring ---------
sq.mtrs. (approx.) (carpet area) and ---------- sq.mtrs (approx.) (built up area) on the ------ floor
(---------- side) in the building known as ----------------- situate at ------------------- Road, Mumbai
----------------, at or for the price of Rs.----------------/= (Rupees ----------------------------
only). It is clearly understood by the Purchaser

that
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Agreement for Sale of Flat

the aforesaid

Flat

No. ---- is currently in

occupation

of

Mr.------------------------- Mr. ----------------shall be permitted to continue to use and occupy the said
Flat until an alternate accommodation is arranged for, but not beyond ----------------- by which
date the Vendor has agreed to hand over vacant and peaceful possession of the premises to
the Purchaser.

2. The Purchaser will pay as consideration the said purchase price of Rs.--------/= (Rupees
--------------------------- only). The payment shall be made out by way of Pay Order payable at
Mumbai in favour of --------.
3. The Vendor shall simultaneously with the execution of this Agreement make an
application to the Society for its approval, if required, for the transfer of the said shares and the
said premises to the Purchaser.
4. On receipt of approval of the Society, the Vendor and the Purchaser shall execute a
formal Deed of Transfer and other documents and papers as may be necessary and required
for effectively transferring the said shares and the said premises in favour of the Purchaser.

5. The sale and transfer of the said shares and the said premises shall be completed after
the aforesaid permission, if required, are obtained as aforesaid on or by ----------in the following
manner:-
(a) The Vendor and the Purchaser shall duly complete and sign the requisite transfer forms for
transfer of the said shares and the said premises from the name of the Vendor to the
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Agreement for Sale of Flat
name of the Purchaser and the same shall be retained by the Purchaser.

(b) The Vendor shall hand over to the Purchaser the said two original documents viz. the
Share Certificate and the Agreement relating to the said premises which are in its possession.

(c) The Vendor shall hand over to the Purchaser quiet, vacant and peaceful possession of the
said premises.
6. All outgoings payable by the Vendor to the Society upto the date of the completion of the
sale shall be borne and paid by the Vendor and if need be, the same shall be brought into
account and apportioned. All such payments after the date of completion of the sale shall be

borne and paid by the Purchaser alone.

7. The Vendor has represented and warranted to the Purchaser:-

(a) that the Vendor is the absolute owner of the said shares and the said premises and that no
one other than the Vendor has any right, title, interest, claim or demand in to and upon the said
shares and the said premises;
(b) that there are no original documents and title deeds other than the said Share Certificate
and the Memorandum of Understanding dated --------------------, entered into between the Vendor
herein and ------- relating to the said premises. The Vendor hereby declare that they have not
created to a lien on the said premises.
(c) that the Vendor has absolute right and authority to sell and transfer the said shares and
the incidental rights to the said premises to the Purchaser;
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Agreement for Sale of Flat
(d) that there is no impediment or restraint or injunction against the Vendor in respect of the
said Shares or the said premises;
(e) that it has duly complied with and observed and performed the rules, regulations and
bye-laws of the Society;
(f) that it has paid its contribution to the monthly outgoing to the Society and that there are no
outstanding or arrears payable to the Society and if there are any arrears, the Vendor shall clear
the same before the completion of the same.
8. The Purchaser hereby agrees and undertakes to observe and abide by the bye-laws of
the said Society.
9. The Vendor agrees to do all such further acts and execute all such further writings
including Deed of Transfer, as may be necessary at the cost of the Purchaser to give effect to
the provisions of this Agreement and effect the sale and transfer of the said shares and the said
premises from the Vendor in terms of this Agreement.
10. Transfer fee/donation of contribution, if any, payable in respect of the said premises for
transfer of the share Certificate from Vendor's name to the name of the Purchaser to the
Society shall be paid by the Purchaser.
11. All out-of-pocket expenses of and incidental to this Agreement and the formal Deed of
Transfer to be executed in pursuance hereof including stamp duty and registration charges shall
be borne and paid by the Purchaser alone. Each party shall, however, bear and pay their
own respective Advocates and Solicitors' costs.

THE SCHEDULE ABOVEREFERRED TO:-

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Agreement for Sale of Flat
IN WITNESS WHEREOF the parties hereto have hereunto set and subscribed their respective
hand and seal the day and year first hereinabove written.
SIGNED, SEALED AND DELIVERED )
by the withinnamed --------- LIMITED by the )
hands of its Authorised Representative Mr )
-------------------------------------------- in the )
presence of - )
1.
2.
SIGNED, SEALED AND DELIVERED )
by the withinnamed ------------------ by the )
hands of its Authorised Representative Mr )
-------------------------------------------- in the )
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Agreement for Sale of Flat
presence of - )
1.
2.

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