AGREEMENT FOR SALE

THIS AGREEMENT made at Mumbai, on this the _______day of November, 2019,

BETWEEN ______________ & ______________, Adults, having their address
__________________________________________, Mulund East, Mumbai –
400081, hereinafter referred to as the “Transferors”, (which expression shall, unless
it be repugnant to the context or meaning thereof, mean and include their heirs,
executors, administrators and assigns) of the FIRST PART, AND ______________ &
______________, Adults, Indian Inhabitants, having their address at
__________________________________________ New Link Road, Andheri (W),
Mumbai – 400053, hereinafter referred to as the “Transferees”, (which expression
shall, unless it be repugnant to the context or meaning thereof, mean and include
their heirs, executors, administrators and assigns), of the SECOND PART.
WHEREAS the Transferors herein are the sole and rightful owners of Flat No. _____,
_____ floor, _____Wing, ______________ Co-operative Housing Society Ltd.,
bearing C.T.S. Nos. _____ to _____, Survey No. 41(part) located at Village Oshiwara,
Taluka Andheri, Greater Mumbai in the Mumbai Suburban district, Building No.
______________, ______________, Off J. P. Road, Andheri (West), Mumbai –
400053 (more particularly described in the Schedule annexed hereto) having a built
– up area of _____ sq. ft., i.e., _____ sq. mtrs., hereinafter referred to as “the said
Flat”.

AND WHEREAS the Transferors are the members of the ______________ Co-
operative Housing Society Ltd. (registered under Registration No. ______________
and having its registered address at Building No. ______________,
______________, Off J. P. Road, Andheri (West), Mumbai – 400053.

AND WHEREAS as such members, the Transferors are the absolute owners of five
shares of face value Rs. 50/- each in the capital of the Society, bearing distinctive
Nos. _____ to _____, of the aggregate value of Rs. 250/- (Rupees Two Hundred Fifty
only), hereinafter called the shares, under Share Certificate No. ______, issued by
the said Society and which share certificate stands in the name of the Transferors.

AND WHEREAS the Transferors had purchased the said flat and the said shares from
______________ by way of an Agreement for Sale dated ______________, duly
registered with the Sub – Registrar of Assurances vide no. ______________. The
said ______________ had inherited the said flat and the said shares by virtue of
being the sole nominee of his late mother, ______________, and was duly endorsed
as the owner of the said flat and the said shares by the Society on ______________.
The late ______________ had purchased the said flat from the promoter /
developer ______________, then having its address at ______________, by way of
an Agreement for Sale dated ______________.

AND WHEREAS the Transferors have represented to the Transferees that they have
been holding the abovesaid flat alongwith the five shares as stated hereinabove and
being the members of the said Society, they are desirous of disposing of their right,
title and interest in the abovesaid flat alongwith the five shares, and the
membership of the said Society, and the Transferee herein has agreed to acquire all
 the right, title and interest of the Transferors in the abovesaid flat alongwith the five
shares issued to them, and the membership of the said Society on the terms and
conditions contained herein.

NOW THEREFORE THIS AGREEMENT WITNESSETH and it is hereby agreed upon by

and between the parties hereto as under :-

1. The Transferors hereby agree to sell, transfer and assign all their right, title and
interest in respect of the said flat, being Flat No. _____, _____ floor,
_____Wing, ______________ Co-operative Housing Society Ltd., bearing C.T.S.
Nos. _____ to _____, Survey No. 41 (part) located at Village Oshiwara, Taluka
Andheri, Greater Mumbai in the Mumbai Suburban district, Building No.
______________, Shastri Nagar, Off J. P. Road, Andheri (West), Mumbai –
400053, and the shares in the said Society, more particularly described in the
Schedule annexed hereto, for a full consideration of Rs. 1,15,00,000/- (Rupees
One Crore Fifteen Lakhs only).

2. The Transferees have agreed to pay to the Transferors the full consideration of
Rs. 1,15,00,000/- (Rupees One Crore Fifteen Lakhs only). The said consideration
will be paid by the Transferees to the Transferors as follows:-

a. Rs. 1,00,000/- (Rupees One Lakh only) paid by the Transferees to the
Transferors, as the earnest money (token), prior to the execution of this
Agreement, by way of Cheque No. ______________ dated ______________,
drawn on ______________, the receipt whereof the Transferors do hereby
admit and acknowledge and acquit, release and discharge the Transferees from
the payment and receipt thereof and every part thereof.

b. The Transferees have paid a sum of Rs. 59,00,000/- (Rupees Fifty Nine Lakhs
Only) directly to the State Bank of India against the mortgage created by the
Transferors on the said flat with the State Bank of India, in the manner described
hereibelow, the receipt whereof the Transferors do hereby admit and
acknowledge and acquit, release and discharge the Transferees from the
payment and receipt thereof and every part thereof.
c. The Transferees have deducted, from the amount payable to the Transferors, a
sum of Rs. 1,15,000/- (Rupees One Lakh Fifteen Thousand Only), being a sum
equal to 1% of the total consideration of Rs. 1,15,00,000/- (Rupees One Crore
Fifteen Lakhs only) towards TDS as per the provisions of Section 194 – 1A of the
Income Tax Act, 1961, inserted as per the Finance Bill, 2013, w.e.f. 1 st June, 2013.
The Transferees shall deposit the said amount of Rs. 1,15,000/- (Rupees One
Lakh Fifteen Thousand Only) in the Government Treasury / Account, and hand
over the proof of payment thereof to the Transferors. The TDS Certificate will be
handed over to the Transferors immediately upon the same being issued by the
relevant government department.

d. And the balance amount of Rs. 53,85,000/- (Rupees Fifty Three Lakhs Eighty
Five Thousand Only) shall be paid by the Transferees to the Transferors, after the
Transferees receive the original documents of the said flat and the lien release
letter from the State Bank of India after paying the balance amount outstanding
against the abovementioned mortgage created by the Transferors with the State
Bank of India, and terminate the said mortgage. The Transferors shall submit the
lien release letter from the State Bank of India confirming the payment of the
outstanding amount and the termination of the said mortgage to the Society of
the said building and obtain from the Society the No – Objection Certificate for
the sale and transfer of the said flat and the said shares without any
encumbrance to the Transferees. The Transferees shall pay to the Transferors the
balance amount of Rs. 53,85,000/- (Rupees Fifty Three Lakhs Eighty Five
Thousand Only) within ______ days of the Transferors furnishing the No –
Objection Certificate from the Society and a copy of the lien release letter from
the State Bank of India to the Transferees. The Transferors shall hand over the
vacant and peaceful possession of the said flat to the Transferees simultaneously
upon receiving the full and final payment. The sale of the said flat shall be
deemed to have taken place, the title of the said flat shall be deemed to be
transferred and the possession of the same shall be given only after the receipt
by the Transferors of the balance amount of Rs. 53,85,000/- (Rupees Fifty Three
Lakhs Eighty Five Thousand Only). It is hereby agreed that the time for the
payment shall be the essence of this Agreement.
3. The Transferors have obtained the consent of the said Society for the transfer and
sale of the right, title and interest of the Transferors in the said Society, as well as
the right, title, and interest of the Transferors in the said Flat, as herein
contained in favour of the Transferees, and also to the admission of the
Transferees to the membership of the said Society in place and in stead of the
Transferors, when the Transfer herein is completed by delivering the vacant and
peaceful possession of the said flat to the Transferees, subject to the submission
of the lien clearance letter from the State Bank of India by the Transferors to the
Society.

4. The Transferors shall execute and hand over all original documents regarding the
said flat to the Transferees including the Original share certificate, the original
agreement, including all enclosures, Transfer forms and all other letters,
documents and writings as required under the Maharashtra Co-operative
Societies Rules, 1961 and as per the bye-laws of the said Society for the effectual
transfer of the said Flat and the said Shares simultaneously upon the receipt of
the final balance payment of Rs. 53,85,000/- (Rupees Fifty Three Lakhs Eighty
Five Thousand Only).

5. The Transferors hereby declare that the title to the said shares and the said Flat
No. _____ on the _____ floor is clear, marketable and self acquired, and that
they have not created any lien, mortgage charges, or any encumbrances in
respect of the said shares and the said flat, save and except for the mortgage
created with the State Bank of India as mentioned hereinabove, or the right,
title, and interest thereof, and they have not received any decree or prohibitory
order, or attachment for transfer of the said flat. The Transferors have also not
sold the said shares and the said flat to any other person, so as to disentitle and
disqualify them from entering into this Agreement, or whereby the Transferees
may be obstructed, prevented or hindered in enjoying the rights to be conferred
or transferred or assigned in their favour or the quiet and peaceful enjoyment or
possession of the said flat. If the Transferees may be disturbed, or in the event of
being found that the Transferors are not entitled to enter into this Agreement
and transfer their rights, or the Transferees are not able to enjoy the quiet and
peaceful possession of the said flat, due to any such reason, then the Transferors
 shall be liable to compensate, indemnify, and / or reimburse to the Transferees
for the loss or damage that the Transferees may suffer or sustain on this behalf.

6. The Transferors hereby declare and confirm that they have a right to transfer &
sell the said shares and the said flat, and they are not restricted by any
agreement or any declaration for the transfer of the said shares and the said flat.
The Transferors hereby further covenant with the Transferees, that the
Transferees shall henceforth after payment of full consideration to the
Transferors, be entitled to quietly and peacefully possess and occupy and enjoy
the said premises without any hindrance, denial, demand, interruption or
eviction by the Transferors or any other person lawfully or equitably claiming
through, under or in trust for the Transferors.

7. The Transferors will pay and clear the charges payable to the Society by way of
Municipal taxes and any other dues / outgoings in respect of the said flat up to
the date of handing over the possession to the Transferees as per the Society
bills or any other dues in respect of the said flat and the Transferors hereby
agree and undertake to indemnify the Transferees and keep the Transferees fully
indemnified against any claim that may be made by the Society or anyone else in
respect of the said Flat for the above period at a later date.

8. The Transferees hereby agree to pay all the charges payable by way of Municipal
taxes and any other dues / outgoings in respect of the said flat from the date of
taking over the possession of the said flat and hereby declare and confirm that
they will abide by the by – laws of the said Society without any reservation
whatsoever.

9. The Transferors hereby declare and confirm that the Transferors have the sole
and absolute right, title and interest in the said shares and the said flat and that
they have not created any gift, loan, lease, mortgage, charge, lien,
encumbrances on the said flat or the five shares and these are free from any gift,
loan, lease, mortgage, charge, lien, encumbrances or attachments of any
Statutory authorities or otherwise, save and except for the mortgage created
with the State Bank of India as mentioned hereinabove, and that there is no
litigation, stay or any legal proceedings with regard to the said shares and the
said Flat in any Court of Law, taxation authority, or with Municipal and Society
 authorities. The Transferors further undertake to indemnify the Transferees
against any such claim that may be made by anyone at a later date.

10. The Transferors, subject to the payment of balance consideration, hereby

release, relinquish, give up and surrender all their right, title and interest in the
membership of the said Society, the Share Certificate and the said flat in favour
of the Transferees for ever.

11. The Transferors shall execute and hand over all the documents and papers
required for the effective transfer of the said flat and the said shares in favour of
the Transferees to the Transferees including Transfer forms, and all other letters,
documents and writings as required under the Maharashtra Co-operative
Societies Rules, 1961 and as per the bye-laws of the said Society for the effectual
transfer of the said Flat and the said Shares simultaneously upon the receipt of
the balance amount of Rs. 53,85,000/- (Rupees Fifty Three Lakhs Eighty Five
Thousand Only) mentioned hereinabove from the Transferees, and undertake
to co – operate in future with the Transferees to execute all such further papers /
documents / writings whatsoever for the effective transfer of the said flat along
with the five shares..

12. The Society transfer charges will be paid by both the parties in equal 50% share
each. However, the stamp duty and registration charges, along with any other
charges as may be applicable, will be borne and payable by the Transferees. The
Transferors shall not be liable for any such payment, and the Transferees
indemnify the Transferors from any such claim laid in this respect at a later date.

13. Should there be any claim in respect of the said flat from any person / persons
or any authority pertaining to any period prior to the transfer of the said flat in
the name of the Transferees, the Transferors hereby agree to indemnify the
Transferees against any such claims by settling such claims from their own funds
only and taking all the legal responsibilities upon themselves.

14. The Transferors hereby undertake and declare that in case of any nomination,
assignment, lien or charge in respect of the said flat and the said shares have
been made and / or created by the Transferors and / or anyone claiming through
them prior to this day, in favour of any person or persons other than the said
 Transferees, the same shall after the execution of these presents, be deemed to
be null and void, inoperative, cancelled and deemed to be withdrawn and not
binding upon the said Society and / or the Transferees.

15. Subject to the provision of Clause No. 2 above of this Agreement for Sale
regarding payment of balance sale consideration, the Transferors agree to
transfer the said shares and their interest in the said flat to the Transferees and
the Transferees are entitled to hold, possess, occupy and enjoy the said flat
without any interruption from the Transferors or any one else claiming through
them. The Transferors hereby further declare that they have the full right and
absolute authority to enter into this Agreement for Sale and transfer the said flat
and that they have not done or performed any act, deed, matters or things
whatsoever whereby they may be prevented from entering into this Agreement
for Sale as purported to be done hereby or whereby the Transferees may be
obstructed, prevented or hindered in enjoying the rights to be conferred or
transferred or assigned in their favour or the quiet and peaceful possession of
the said flat upon payment of balance sale consideration by the Transferees.

16. The Transferors, subject to the payment of balance consideration, hereby

undertake to furnish any other documents, at the cost of the Transferees, which
may be required by the Transferees to make the title of the said flat complete
and absolute without claiming any extra charges or compensation. The
Transferors also agree and undertake to sign any other documents or forms for
the payment of stamp duty to be paid on this Agreement by the Transferees.

17. This Agreement shall operate as a Sale Deed upon payment of the balance sale
consideration as stated hereinabove by the Transferees to the Transferors, and
thereafter, the sale and transfer of the said Flat and the said shares as
contemplated under this Agreement shall be deemed to be completed in all
respects and the Transferees shall be deemed as the sole and absolute owners
of the said Flat and the said shares.   
18. The PAN numbers of the parties hereto are as follows :

Name PAN No.

______________ ______________
______________ ______________
______________ ______________
______________ ______________

19. This Agreement for Sale has been executed in Mumbai, the property is situated
at Mumbai and the payments are made in Mumbai, hence it is subject to the
jurisdiction of the Courts of Law of the Metropolitan City of Mumbai only.

SCHEDULE OF THE PROPERTY HEREINABOVE REFERRED TO

Flat No. _____, _____ floor, _____Wing, ______________ Co-operative Housing

Society Ltd., Bldg. No. ______________, ______________, Off J. P. Road, Andheri
(West), Mumbai – 400053, bearing C. T. S. No. _____ to _____, Survey No. 41 (Part),
Village Oshiwara, Taluka Andheri, Greater Mumbai in the Mumbai Suburban district,
having a built – up area of _____ sq. ft., i.e., _____ sq. mtrs.
IN WITNESS WHEREOF THE PARTIES hereto have hereunto set and subscribed their
respective hands and seals this day and year first hereinabove written.

SIGNED, SEALED AND DELIVERED )

by the withinnamed Transferors  )

SIGNATURE OF LEFT THUMB

______________ IMPRESSION PHOTOGRAPH

SIGNATURE OF LEFT THUMB

______________ IMPRESSION PHOTOGRAPH

in the presence of ___________________ )

SIGNED, SEALED AND DELIVERED )

by the withinnamed Transferees )

SIGNATURE OF LEFT THUMB

______________ IMPRESSION PHOTOGRAPH

SIGNATURE OF LEFT THUMB

______________ IMPRESSION PHOTOGRAPH
in the presence of ___________________ )
 RECEIPT

Received with thanks from the Transferees ______________ & ______________, a

sum of Rs. 60,00,000/- (Rupees Sixty Lakhs only), in the manner described
hereinbelow, as a part payment towards the total consideration of Rs. 1,15,00,000/-
(Rupees One Crore Fifteen Lakhs only) for the sale of Flat No. _____, _____ floor,
_____Wing, ______________ Co-operative Housing Society Ltd., Bldg. No.
______________, ______________, Off J. P. Road, Andheri (West), Mumbai – 400053.

Sr. Cheque/ D.D. / Pay Dated Drawn on Amount

No Order No.
.
1 ______________ 01/11/2019 State Bank of India Rs. 1,00,000/-
2 ______________ 22/11/2019 Canara Bank, Lokhandwala Rs. 19,00,000/-
3 ______________ 22/11/2019 Canara Bank, Lokhandwala Rs. 40,00,000/-
Total Rs. 60,00,000/-

WE SAY RECEIVED

______________

______________

WITNESSES :

1.

2.
 RECEIPT

Received with thanks from the Transferees ______________ & ______________, a

sum of Rs. 1,15,000/- (Rupees One Lakh Fifteen Thousand Only), by way of TDS paid @
1% of the total consideration of Rs. 1,15,00,000/- (Rupees One Crore Fifteen Lakhs
only) as a part payment towards the total consideration of Rs. 1,15,00,000/- (Rupees
One Crore Fifteen Lakhs only) for the sale of Flat No. _____, _____ floor, _____Wing,
______________ Co-operative Housing Society Ltd., Bldg. No. ______________,
______________, Off J. P. Road, Andheri (West), Mumbai – 400053.

WE SAY RECEIVED

______________

______________

WITNESSES :

1.

2.
 RECEIPT

Received with thanks from the Transferees ______________ & ______________, a

sum of Rs. 53,85,000/- (Rupees Fifty Three Lakhs Eighty Five Thousand Only) in the
manner described hereinbelow, as the full and final balance payment towards the total
consideration of Rs. 1,15,00,000/- (Rupees One Crore Fifteen Lakhs only) for the sale
of Flat No. _____, _____ floor, _____Wing, ______________ Co-operative Housing
Society Ltd., Bldg. No. ______________, ______________, Off J. P. Road, Andheri
(West), Mumbai – 400053, and handed over the vacant and peaceful possession of the
said flat.

Sr. D.D. / Pay Dated Drawn on In favour of Amount

No Order No.
.
1 _______ 03/12/2019 _______ ______________ Rs. 26,92,500/-
2 _______ 03/12/2019 ______________ Rs. 12,44,000/-
3 _______ 03/12/2019 ______________ Rs. 3,000/-
4 _______ 03/12/2019 ______________ Rs. 1,37,000/-
5 _______ 03/12/2019 ______________ Rs. 13,08,500/-
Total Rs. 53,85,000/-

WE SAY RECEIVED

______________

______________
WITNESSES :

1.
2.