AGREEMENT TO SELL
This AGREEMENT TO SELL is executed on this 26th day of Nov, 2021 at
Gurugram.
BETWEEN
M/s. Indiabulls Housing Finance Ltd a company incorporated under the
provisions of the Companies Act, 2013 having its registered office at M-62, 63,
First Floor, Connaught Place, New Delhi - 110001 & having the Corporate
Identity Number L65922DL2005PLC136029 and having PAN AABCI3612A
& GSTIN 06AABCI3612A1ZD through its authorized signatory,
……………………………,authorized vide board resolution dated …………..
…… hereinafter referred to as `the Seller’ (which expression shall unless it be
repugnant to the context or meaning thereof, be deemed to mean and include
his/her/its successors in interest and permitted assigns etc.) of the ONE Part.
AND
Ms Priyanka Gupta D/o Mr Rajnish Kumar R/o Plot No.1A, GF, H-2, Sector
82, Vatika India Next, Kherki Daula, Gurgaon, Haryana 122004 PAN
ARHPG9239K & ADHAAR 479856047060 and Ms Parul Bansal D/O Ram
Chander Gupta R/o S 161, First Floor, Uppal Southend, Sector 48-49, South
City II, Sohna Road, Gurgaon, Haryana 122018 PAN ANFPB8357B &
ADHAAR 319904698799 hereinafter referred to as `the Purchaser’ (which
expression shall unless it be repugnant to the context or meaning thereof, be
deemed to mean and include his/her/its successors in interest and permitted
assigns etc.) of the OTHER Part.
Whereas the above said Seller is the absolute and exclusive Owner and in
possession of unit No. REE-004-Tower D-12A-1205A admeasuring 795 sq. ft.
super area approx.(i.e. 40.45 sq. mtr. approx.. carpet area) , 12th floor,
Tower/Block No. D, in the commercial project/colony known as ‘Vatika Town
Square’ situated in the revenue estate of Village Shikohpur, Sector 82 A, Tehsil
and District Gurgaon, Haryana (hereinafter called the said Unit).
AND WHEREAS the above said Seller has purchased the above said Unit from
M/s. Vatika Limited and other Confirming Parties vide Conveyance Deed
Registered as Document no. 4738 dated 21-09-2021 in Book No. 1 Volume No.
1425 at Page No. 100 to 102 registered in the office of Sub Registrar, Manesar.
AND WHEREAS the Seller represents that the said Unit is free from all
charges, mortgages, encumbrances, lien, lispendenses, wills, prior agreements,
gifts, trusts, stay orders, etc and represents that the same has a good and a
marketable title and the Seller is entitled to sell the same to the Purchaser on
“AS IS WHERE IS BASIS” condition, on terms and conditions mentioned
herein and receive the sale consideration.
AND WHEREAS on the representation of the Seller, the Purchaser has agreed
to purchase the said Unit, for a total sale consideration of Rs. 35,65,575/-
(Rupees Thirty Five Lakhs Sixty Five Thousand Five Hundred and Seventy
Five Only) free from all encumbrances, charges, liens, lispendens, litigations,
prior agreement, mortgages etc. subject to the terms and conditions mentioned
herein below:
NOW THIS AGREEMENT TO SELL WITNESSETH as under:
1. That in consideration of a total sale consideration of Rs. 35,65,575/-
(Rupees Thirty Five Lakhs Sixty Five Thousand Five Hundred and
Seventy Five Only) One Car Parking included, the Seller has agreed to
sell and the Purchaser has agreed to purchase ALL THAT the said unit
No. REE-004-Tower D-12A-1205A admeasuring 795 sq. ft. super area
approx.(i.e. 40.45 sq. mtr. approx.. carpet area) , 12th floor, Tower/Block
No. D, in the commercial project/colony known as ‘Vatika Town Square’
situated in the revenue estate of Village Shikohpur, Sector 82 A, Tehsil
and District Gurgaon, Haryana on “AS IS WHERE IS BASIS” condition,
on the terms and conditions more specifically mentioned herein. The
Total Sale Consideration is all inclusive which includes costs towards
Basic Sale Price, external development charges and internal development
charges and PLC charges.
2. (i)That out of the total sale consideration of Rs. 35,65,575/- (Rupees
Thirty Five Lakhs Sixty Five Thousand Five Hundred and Seventy Five
Only), the Purchaser has paid(a) a sum of Rs 3,60,000/- (Rupees Three
Lakhs Sixty Thousand Only) vide RTGS / NEFT No./Cheque No.
000089 dated 11th Nov 2021 total amounting to Rs 3,60,000/- (Rupees
Three lakh Sixty Thousand Only) to the Seller, on or before the date of
execution of this Agreement, the receipt whereof the Seller doth hereby
admit and acknowledge.
(ii) 10 % of total sale consideration shall be treated as Earnest Money for
the purpose of this Agreement.
3. The balance sale consideration of Rs 32,05,575/- (Rupees Thirty Two
Lakhs Five Thousand Five Hundred and Seventy Five Only) less
applicable TDS shall be paid by the Purchaser to the Seller :- (i) by or
before 60 days from the date of this Agreement; or (ii) on the intimation
to the Purchaser by the Seller for delivery of possession of the said Unit ,
whichever is later. The Seller shall hand over the possession of the Said
Unit to the Purchaser simultaneously on execution and registration of
transfer deed/sale deed in favour of the Purchaser.
4. The Purchaser shall be bound to execute a separate maintenance
agreement with the Developer/Builder /Maintenance Agency and pay
amount of maintenance charges/amount(s) advance and interest free
maintenance deposit , as may be demanded by them.
5. That the Seller doth hereby assure and covenant with the Purchaser as
follows:
(a) That the Said Unit is free from all encumbrances, charges, liens,
attachments, mortgage, trusts whatsoever or howsoever and there is
no litigation/injunctions/stay orders/status quo or any other
proceedings pending relating thereto.
(b) That there is no order of attachment by the Income-tax Authorities
or any other Authority or any notice of acquisition/requisition has
been received in respect of the said Unit or the land beneath.
(c) That excepting the Seller nobody else has any right, title, interest,
claim or demand whatsoever or howsoever in respect of the Said
Unit.
(d) That there is no legal impediment or bar whereby the Purchaser can
be prevented from obtaining any permissions and approvals to
transfer the Said Unit in his favour.
(e) That there is no subsisting Agreement for sale in respect of the
said Unit or any part thereof nor has it been disposed off or
transferred to any other person or persons under any Agreement,
Allotment, Gift, Will, Exchange, Settlement or any other
arrangement etc., except with the Purchaser.
(f) That no part of the Said Unit belongs to any HUF, any minor or
any lunatic.
(g) That the Seller shall pay and discharge all obligations in respect
of the said Unit including all taxes, Municipal tax, Maintenance
Charges, water, and electricity charges and any other charges
payable to any authority/ies up to the date of execution of the
transfer/sale deed.
6. The Purchaser reserves the right to get the transfer/sale deed executed in
respect of the said Unit in his own name and the Seller shall not object to
the same.
1. That the said Unit is in possession of the Seller and the Seller hereby
assures and represents that it shall not part with the possession and to
hand over vacant physical possession to any other person.
2. In event the Purchaser fails to pay balance sale consideration to the Seller
and execute and register the Transfer deed/sale deed in his favour within
(i)60 days from the date of this Agreement; or (ii) on the intimation to the
Purchaser by the Seller for delivery of possession of the said Unit ,
whichever is later, then the Seller shall be entitled to cancel and terminate
this Agreement and shall also forfeit the earnest money of 10% of total
sale consideration and refund the balance amount to the Purchaser within
15 days forthwith termination of this Agreement. On termination of this
Agreement, the Purchaser shall not be left with no right, interests or claim
of any type of whatsoever nature and Seller shall be free to deal with the
said Unit as it may deem fit .
3. On receipt of balance sale consideration by the Seller from the Purchaser,
in event the Seller fails to execute the Transfer/ Sale Deed of said Unit by
or before 60 days from this agreement in favour of the Purchaser then the
Purchaser shall be entitled to get the transfer deed /Sale Deed executed
and registered through competent court of law at the cost and expenses of
the Seller.
4. The clauses and provisions of this Agreement are independent of and
severable from each other, and no provision shall be affected or rendered
invalid or unenforceable by virtue of the fact that for any reason any one
or more clauses or provisions hereof is held legally invalid or
unenforceable in whole or in part by a court having jurisdiction over the
Parties.
5. That the Purchaser hereby agrees and undertakes to keep the Seller
indemnified at all times against all claims/costs/expense etc. raised by
any person and/or suffered by the Seller in respect of the said Unit for any
acts, omission or fault of the Purchaser.
6. That the Purchaser shall abide by all the terms and conditions of the
Allotment Letter, Conveyance Deed, Deed of Declaration and License
issued by the DTCP, Haryana.
7. That the Purchaser shall be liable to pay and discharge all obligations in
respect of the said Unit including all taxes, Municipal tax, Maintenance
Charges, water, and electricity charges and any other charges payable to
any authority/ies/developer/maintenance agency after the date of
execution of the transfer deed/sale deed of the said Unit.
14. This Agreement contains the entire understanding of the parties hereto in
respect of the subject matter referred to herein. Other than the foregoing,
there are no restrictions, promises, warranties, covenants or undertakings
other than those expressly set forth herein or therein.
15. This Agreement is subject to the exclusive jurisdiction of the Courts in
Gurugram, Haryana only.
16. That all costs and expenses for registration of the transfer Deed/sale deed
of the said Unit including the cost of stamp duty and the registration fees
shall be borne by the Purchaser alone.
17. This Agreement is executed in two original and each party shall retain
one original each.
IN WITNESS WHEREOF the parties hereto have signed this Agreement to
Sell, on the day, month and year first above written.
SIGNED AND DELIVERED by the
Within named THE SELLER
SIGNED AND DELIVERED by the
Within named THE PURCHASER
WITNESSES:
1.
2.
