Agreement for Sale
This agreement made Thursday, January 17, 2013 between AWAS CONSTRUCTIONS a firm incorporated under the Indian partnership act 1932, having its office at Kankarbagh, Patna-20 through its Managing Partner,Mr.Binod Kumar Vishwash s/o Late Gokul Pd. Biswas Residing at flat no-402, Block “B” , “GANESH TOWER” Apartment Bhootnath Road,Patna-26. hereinafter referred to as the “BUILDER” of the one part and Mr. Dheeraj Kumar s/o Mr. Ravindra Kumar Sinha Resident of vill-Neori Tole Dath, Post-Jayantipur, Thana-Biraul, via—Benipur,Dist-Darbhanga 847103, .Hereinafter referred to as “BUYER” of the other part.
And whereas, the builder has framed a scheme for constructing a complex to known as “TULSI ENCLAVE” on the said land for residential purposes, comprising of several flats, parking spaces etc.
And whereas, buyer has inspected and/or otherwise satisfied himself about the right, title and interest of the builder over such land and is also aware of the fact that the builder has entered and are interested in acquiring the proposed Flats, parking spaces etc.
And whereas, the buyer has also inspected and/or otherwise satisfied himself about the building plans and is desirous of acquiring as Flat in the said complex more fully described in the schedule “B” hereto upon the terms and conditions hereinafter mentioned.Now this agreement witness and it is hereby agreed by and between the parties hereto as follows:
1. In the agreement unless it be Contrary or Repugnant to the Context.
1. “Builder” Shall Mean the Builder Above – Named and its Promoters as Also its Executors, Successors and / or Successors in Interest Assigns, Representatives and Nominee or Nominees.
2. “Buyer” Shall Mean and Include:
a) If the Buyer be an Individual then his/her Heirs, Executors Administrators, Legal Representatives Successors and Assigns.
b) If buyer be a Hindu Undivided family, then its karta and Member for the time Being their survivors and Respective heirs, Executors, Administrators, Legal Representatives and Assigns.
c) In case the buyer be a partnership firm, then its partners for the time Being their Respective Heirs and Executors, Administrators, Legal Representatives and Assigns, and
d) In case Buyer be a joint stock Company, then its successors or Successors-in-interest and Assigns:
3. “Land” shall mean the said land, as Fully Described in the Schedule “A” of this Agreement.
4. “Complex” shall mean all Flats, Parking Spaces etc. To be constructed on the said land and to be known as “TULSI ENCLAVE”.
5. “Unit” shall mean any one Flat with joint ownership of its floor, Roof and walls as Explained in the Schedule “B” of this Agreement and shall also include the Parking Space if the same has been acquired by the buyer.
6. “Building” shall mean the Multi-Storied Building in which Buyer has purchased his unit and / or units.
7. “The Plans” shall mean the Plans and Designs of Buildings to be constructed in “TULSI ENCLAVE” Including any Variations ThereinArchitect or Architects.
8. “Parking Space” shall mean the open or Covered Space Reserved on the Demised land or in the Building Sufficient for parking of an Indian Make Car and/or Scooter.
2. The builder shall construct a Complex known as “TULSI ENCLAVE” over the said land Described in the Schedule “A” Hereunder in terms of the Scheme Framed by the Builder.
1. The Builder shall be entitled to make Such Charges, Additions and/or Alterations in the Plans as the Exigency to the Situation or Circumstances shall warrant or require.
3. The Buyer Agrees To Acquire From the Builder the said Flat along with the said Parking Space Hereinafter jointly Referred to as the “Said Unit” More Fully Described in the Schedule “B” Hereunder at or for a Total Consideration as Mentioned in part I of the Schedule “C” Hereunder written and the Builder has Agreed to transfer the same in favour of buyer at the said Consideration.
1. The said Total Consideration Has been calculated on the Basis of Super-Built up Area as detailed in Part I of the Schedule “C” Hereunder written. In case any difference is found in the area at the time of taking Final Measurement after Completion of the building, the Difference in Consideration amount shall be adjusted accordingly. The Certificate for the Architect shall be final and binding on Both Buyer and the Builder.
2. The said total consideration shall be paid by the buyer to the builder as and in the manner set out in part II of the schedule “C” hereunder written. It is also agreed that all such payments shall always be maid by crossed A/C payee cheques or pay order or demand draft drawn on any bank in Patna in favour of the builder and that for any payment made in cash the builder shall not be responsible.
3. In case any sales tax purchase tax or any other government duty or tax (not being Income - Tax) is payable in relation to the said unit, the same shall be on the account against any such claim or demand that may be any authority.
4. The buyer shall make timely payment of all amounts under this agreement whether demanded or Not by the builder, In default of payment of any amount in time, buyer shall pay to the builder interest at the rate of 18% per Annum compounded every month on all the amount which become due and payable by buyer to the builder under the terms of this agreement calculated from the date the said amount becomes payable by the buyer to the builder up to the date of payment Provided. That Payment of the interest shall not prevent the right of cancellation of this Agreement by the builder on account of any default committed by buyer in payment of any amount payable by the buyer to the builder on due date. It is specifically agreed that time for payment of the consideration amount by the buyer to the builder as set-out in part II of the schedule “C” hereunder written shall be the essence agreement.
5. On the buyer not clearing all his dues along with interest 18% per annum within 30 days from the date the said amount become payable and /or committing default in payment on due date under his agreement twice and/ or on the buyer committing Breach of any of the terms and condition herein contained the builder shall be entitled at its own option to cancel and terminate this agreement in which event all right title and interest of the buyer over the said unit shall stand extinguished and the buyer shall have no further right, title and interest over the said unit and the builder shall be entitled to transfer the said unit to any other person, the builder apart from interest at the rate of 18% per annum on all delayed payments shall also be entitled to liquidated damages of 10% of total cost of the said unit ...