AGREEMENT OF SALE

This AGREEMENT OF SALE is executed on this Tenth day of March, Year

Two Thousand Twenty Two (10.03.2022) at Bangalore;

:BY AND BETWEEN:

M/s. BEST PROPERTIES & DEVELOPERS,

A registered partnership firm
Office at No.114, CMR Complex, PAN NO: AAQFB 5690R
Chandapura, Anekal Taluk,
Bangalore Urban District,
Represented by its Managing Partner
L.SUBBAIAH NAIDU
S/o. LateVenkaiah,
Aged about 60 Years.
Hereinafter called to as the “VENDOR/DEVELOPER” which term wherever the
context permits shall mean and include his respective heirs, successors, assigns,
executors, administrators, and legal representatives of the FIRST PART;

:AND:

1. SMT. PUTTAMMA,
W/o late Venkataswamy,
Aged about 46 years Aadhar No.

2. SRI. SUNIL
S/o late Venkataswamy,
Aged about 27 years Aadhar No.

3. SMT. GUNA
D/o late Venkataswamy,
Aged about 25 years Aadhar No.
All are residing at:
Guddahatti Village, Attibele Hobli,
Anekal Taluk, Bangalore Urban District.

Hereinafter called to as the “CONFIRMING PARTY” which term wherever the

context permits shall mean and include their respective legal heirs, successors,
assigns, executors, administrators and legal representatives of the SECOND
PART;

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 :AND:

4. Mrs. PADMA MANDIRAM PILLAI,

W/o. Ramasamy, Pan No: BFDPP6011B
Aged about 60 years Aadhar No.3884 5951 6414

5. Mr. RAJESH KUMAR RAMASAMY

S/o. Ramasamy, Pan No: AVRPK0030C
Aged about 39 years Aadhar No.9809 4562 2647

Both are residing at:#202,

Wing-B, Block-4, Aswani Aaesha Apartment,
Doddanagamangala, Electronic city Phase-2,
Bengaluru-560100.

Hereinafter called to as the “PURCHASERS” which term wherever the context

permits shall mean and include their respective legal heirs, successors, assigns,
executors, administrators and legal representatives of the THIRD PART;

WHEREAS, the Residential layout known as “GREEN VALLEY 2.0” is formed on

land measuring 08 acres 16 guntas, comprised in Sy Nos. 69, 70/1, 70/2,

74/3, 74/4 & 74/7, situated at Guddahatti Village, Attibele Hobli, Anekal Taluk,

Bangalore Urban District.

WHEREAS, originally, the land measuring 03 Acres 19 Guntas comprised in

Sy.No.69, situated Guddahatti Village Attibele Hobli, Anekal Taluk, Bangalore

District, hereinafter referred to as ‘Larger Property’ was Thoti Inam Land

possessed by one Sri. Ramappa S/o Jatappa, Sri. Yellappa S/o Muniswamappa,

Sri. Venkatappa S/o Muniswamappa Sri. Akkalerappa S/o Yarappa and others,

the said Sri. Ramappa and others have filed an application before Tahasildhar

Anekal Taluk, for re-grant of Larger Property (i.e., Sy.No.69, measuring 03 Acres

09 Guntas) and other properties. The same has been registered as Case No.VOA

24/1980-81.

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WHEREAS, later, as per the Order dated 24/07/1981, in Case No.VOA 24/1980-

81, the Tahasildhar Anekal Taluk, as re-granted the larger property in the

following manner:

i) An extent of 1 Acre 24 ½ Guntas in Sy.No.69 in favour of Sri.

Ramappa S/o Jatappa.

ii) An extent of 32 ¼ Guntas in Sy.No. 69, in favour of Sri. Yellappa S/o

Muniswamappa and Sri. Venkatappa S/o Muniswamappa.

iii) An extent of 32 ¼ Guntas in Sy.No. 69, in favour of Sri. Akkalerappa

S/o Yarappa/Erappa.

In pursuance to the order dated 24/07/1981, Khatha / mutation pertaining to

larger property has been transferred in the names of Sri. Ramappa S/o Jatappa,

Sri. Yellappa S/o Muniswamappa, Sri. Venkatappa S/o Muniswamappa and Sri.

Akkalerappa S/o Yarappa/Erappa, in respect of their respective holdings, under

mutation register M.R.No.10/1980-81.

WHEREAS, later, Sri. Yellappa S/o Muniswamappa, Sri. Srinivas S/o Sri. Yellappa

being the owners of land measuring 32 ¼ Guntas in Sy.No. 69, have executed

the Sale Deed dated 05/05/2006, Rep by their SPA Holder

Sri.G.R.Krishnamurthy, in favour of Sri. L. Subbaiah Naidu S/o Venkaiah,

registered as document No. ANK-I-7283/2006-07, stored in CD.No. ANKD127,

registered in the office of Sub-Registrar, Anekal. Subsequently the said Sri.

Yellappa S/o Muniswamappa, Sri. Srinivas S/o Sri. Yellappa, along with their

family members have executed Confirmation Deed dated 15/05/2006, in favour

of Sri. L. Subbaiah Naidu S/o Venkaiah, registered as document No. ANK-I-

07287/2006-07, stored in CD.No. ANKD127, registered in the office of Sub-

Registrar, Anekal, in respect of land bearing Sy.No. 69, measuring 32 ¼ Guntas,

confirming the sale of the said land. In pursuance of Sale Deed 05/05/2006,
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Katha / Mutation in respect of the land measuring 32 ¼ Guntas in Sy.No. 69 has

transferred in the name of Sri. L. Subbaiah Naidu under M.R.No. 37/2005-06.

Thus, said Sri. L. Subbaiah Naidu (who is one of the partner of Vendor herein)

has become the absolute owner and in possession of land bearing Sy.No. 69,

measuring 32 ¼ Guntas.

WHEREAS, later, one Sri. Munikrishnappa S/o Akkalerappa had filed suit in

O.S.No. 701/2009, on the file of Senior Civil Judge, Anekal, against the said Sri.

Akkalerappa S/o late Erappa and other family members. Later, said suit came to

be compromised between the parties and interms of said compromise land

measuring 32 ¼ Guntas in Sy.No. 69 was allotted the share of Smt. Puttamma

W/o late Venkataswamy (i.e., Sl.No.1 of Confirming Party). In pursuance of said

compromise Khatha / Mutation in respect of land measuring 32 ¼ Guntas in

Sy.No. 69 has been transferred in the name of Smt. Puttamma (i.e., Sl.No.1 of

Confirming Party) under M.R.No. H10/2012-13. Thus, Sri.Ramappa S/o Jatappa

is the owner of 01 Acre 24 ½ Guntas land in Sy.No. 69 and Smt. Puttamma

(Sl.No. 1 of the Confirming Party) is the owner of 32 ¼ Guntas of land in Sy.No.

69, and Sri. L. Subbaiah Naidu (who is one of the partner of Vendor herein) is

the owner of 32 ¼ Guntas in Sy.No. 69, have jointly obtained conversion of land

bearing Sy.No. 69, totally measuring 03 Acres 09 Guntas, from agricultural use

to non-agricultural / residential use, by paying necessary conversion charges,

vide Official Memorandum dated 04/12/2017, bearing No. ALN(A) (A) SR :

45/17-18, issued by the Deputy Commissioner, in respect of Sy.No. 69,

measuring 03 Acres 09 Guntas.

WHEREAS, as mentioned above the said Sri.Ramappa S/o Jatappa is the owner

of 01 Acre 24 ½ Guntas land in Sy.No. 69 and Smt. Puttamma (Sl.No.1 of

Confirming Party) is the owner of 32 ¼ Guntas of land in Sy.No. 69, and they
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have entered into Registered Joint Development Agreements and General Power

of attorney’s with M/s Best Properties and Developers, Represented by its

Partner Sri. L. Subbaiah Naidu (who is also the owner of land measuring 32 ¼

Guntas in Sy.No. 69) as detailed below:

1. Joint Development Agreement dated 29/07/2017 executed by Sri.

Ramappa S/o Jattappa, Smt. Narayanamma D/o Ramappa, Sri.
Venkataswmy S/o Ramappa and others in favour of M/s Best Properties
and Developers Rep by its partner Sri.L. Subbaiah Naidu, registered as
document No. ABL-1-02096/2017-18, stored in C.D.No. ABLD303,
registered in the office of Sub-Registrar, Attibele, in respect of Sy.No. 69,
measuring 01 Acre 24 ½ Guntas.

2. General Power of Attorney dated 29/07/2017 executed by Sri. Ramappa

S/o Jattappa, Smt. Narayanamma D/o Ramappa, Sri. Venkataswmy S/o
Ramappa and others in favour of M/s Best Properties and Developers Rep
by its partner Sri.L. Subbaiah Naidu, registered as document No. ABL-4-
00082/2017-18, stored in C.D.No. ABLD303, registered in the office of
Sub-Registrar, Attibele, in respect of Sy.No. 69, measuring 01 Acre 24 ½
Guntas.

3. Joint Development Agreement dated 05/07/2018 executed by Smt.

Puttamma W/o late Venkataswamy, Sri. Sunil S/o late Venkataswamy,
Smt. Guna, D/o late Venkataswamy, in favour of M/s Best Properties and
Developers Rep by its partner Sri.L. Subbaiah Naidu, registered as
document No. ABL-1-02078/2018-19, stored in C.D.No. ABLD321,
registered in the office of Sub-Registrar, Attibele, in respect of Sy.No. 69,
measuring 32 ¼ Guntas.

4. General Power of Attorney dated 05/07/2018 executed by Smt. Puttamma

W/o late Venkataswamy, Sri. Sunil S/o late Venkataswamy, Smt. Guna,
D/o late Venkataswamy, in favour of M/s Best Properties and Developers
Rep by its partner Sri.L. Subbaiah Naidu, registered as document No. ABL-
4-00085/2018-19, stored in C.D.No. ABLD332, registered in the office of

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 Sub-Registrar, Attibele, in respect of Sy.N o. 69, measuring 32 ¼
Guntas.
for development of said lands into aforesaid residential layout known as `Green

Valley 2.0” , and agreed to share the said developed area. As M/s Best

Properties and Developers, is developing the adjoining lands of above said

Properties in the Guddahatti Village Attibele Hobli, Anekal Taluk, Bangalore

District (by purchasing some of lands directly into its / partner names and some

of lands by entering into Joint Development Agreements with the land owners).

WHEREAS, the M/s Best Properties and Developers (i.e., the Vendor herein)

had prepared a draft layout plan for developing the land bearing Sy.No.69 with

the adjoining lands into a residential layout plan and submitted the same to the

Anekal Planning Authority (APA) for approval and the same has been approved

by the Anekal Planning Authority, vide plan approval dated 01/07/2020, vide No.

APA/LAO/51/2018-19. Subsequently, the Anekal Planning Authority, has

released all the sites formed on residential layout known as `Green Valley 2.0”

through Release Order dated 01/07/2020, vide No. APA/LAO/51/2018-19 and

pursuant to said Release Order, Neraluru Grama panchayath, has assessed tax

for the Sites and registered Khatha in respect of all the Sites in its record by

assigning new Property ID numbers.

WHEREAS, in the mean while, M/s Best Properties and Developers (i.e., the

Vendor herein) have entered into supplementary/sharing agreement dated

03/08/2019 with Land Owners Smt. Puttamma, Sri. Sunil and Sri. Guna (who

are owners of 32 ¼ Guntas in Sy.No.69) i.e., confirming party herein and in

terms of said Sharing Agreement, Site No.48, having Panchayath PID No.

150200101500820382, measuring 168.13 Sq.Mtrs, is fallen to the share of

Vendor herein, the said Site No. 48, is part/carved out of land measuring 32 ¼

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Guntas in Sy.No. 69 which is owned by the Confirming Party herein. The land

measuring 32 ¼ Guntas in Sy.No. 69 owned by Confirming Party is morefully

described in the Schedule ‘A’ hereunder and herein after referred to as

Schedule ‘A’ Property and the said Site No. 48, having Panchayath PID No.

150200101500820382, measuring 168.13 Sq.Mtrs, is morefully described in the

Schedule ‘B’ hereunder and hereinafter referred to as Schedule ‘B’ Property.

WHEREAS, now the Vendor is in need of funds to develop the residential layout

and to purchase alternative property, hence decided to sell the Schedule ‘B’

Property. In view of the aforesaid decision, the Vendor has offered to sell the

Schedule ‘B’ Property for the sale consideration of Rs.34,23,500/- (Rupees

Thirty Four Lakhs Twenty Three Thousand Five Hundred Only) to the

Purchasers herein, and the Purchasers have accepted the said offer and agreed

to purchase the Schedule ‘B’ Property for the said sale consideration, thus the

Vendor is executing this Agreement to sell in favour of the Purchaser herein in

the following terms and conditions.

NOW THIS DEED OF AGREEMENT TO SELL WITNESSETH AS FOLLOWS:

That the VENDOR / DEVELOPER/ Confirming PARTY assures the

PURCHASER;

a) That the Vendor is the absolute owner of the schedule ‘B’ property and
has good marketable and subsisting title to the schedule ‘B’ property
and no other person or persons have any right, title or interest or
share therein.

b) That the schedule ‘B’ property is not subject to any encumbrance,

attachment or court or revenue or acquisition proceedings of what so
ever kind.

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 c) That the Vendor has not entered into any agreement or agreements of
sale or transfer of the schedule ‘B’ property in favour of any person or
persons whomsoever.

d) The Vendor alone shall be responsible for any of arrears of taxes till
the date of sale in respect of the schedule ‘B’ property any time after
the execution of the sale deed in favour of the Purchaser.

e) That the Vendor has agreed not to encumber or create charge or lien
of what so ever nature in or over the schedule ‘B’ property during the
subsistence of the contract.

2. SALE PRICE:

In Pursuance of the foregoing and in consideration of the mutual

obligations undertaken by the parties hereto, the Vendor has agreed to

sell the Schedule ‘B’ Property in favour of the Purchaser and the

Purchasers hereby agreed to purchase the Schedule ‘B’ Property for the

sale consideration of Rs.34,23,500/- (Rupees Thirty Four Lakhs

Twenty Three Thousand Five Hundred Only).

3. ADVANCE PAYMENT:
Out of the Sale Consideration amount of Rs.34,23,500/- (Rupees

Thirty Four Lakhs Twenty Three Thousand Five Hundred Only),

towards the sale of the Schedule ‘B’ Property, the Purchasers have paid

advance sale consideration amount of Rs.6,84,700/- (Rupees Six

Lakhs Eighty Four Thousand Seven Hundred Only) in the following

manner:

a) Sum Rs.99,999/- (Rupees Ninety Nine Thousand Nine Hundred

Ninety Nine only)paid by way of NEFT Ref no. IDIBH22027371986

Dated:27/01/2022, Drawn on Indian Bank, MG Road Branch, Bangalore.

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b) Sum Rs.5,84,701/- (Rupees Five Lakhs Eighty Four Thousand

Seven Hundred OneOnly)paid by way of Cheque bearing no.

_________, Dated:__________,Drawn on Kotak Mahindra Bank, MG

Road Branch, Bangalore.

The VENDOR hereby acknowledges the receipt of the advance sale

consideration amount of Rs.6,84,700/- (Rupees Six Lakhs Eighty

Four Thousand Seven Hundred Only).

4. PRODUCTION OF DOCUMENTS:

The Vendor undertakes to furnish all relevant documents in respect of

Schedule ‘B’ Property i.e., Encumbrance Certificate, Tax paid receipts,

E- Khatha Certificate, Sharing Agreement etc. etc., in respect of Schedule

‘B’ Property to substantiate its marketable title over the Schedule ‘B’

Property within 10 days month from today to the satisfaction of the

Purchaser.

5. BALANCE SALE CONSIDERATION:

Subject to compliance Clause-4 and other terms and conditions of the

Sale Agreement by the VENDOR, the PURCHASERS undertake to pay the

balance sale consideration of Rs.27,38,800/- (Rupees Twenty Seven

Lakhs Thirty Eight Thousand Eight Hundred Only) when the

registered Sale Deed is executed by the VENDOR in respect of Schedule

‘B’ Property in favour of PURCHASERS and/or their nominee/s and/or their

assignee/s within 15 days from today.

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6. PERIOD FOR COMPLETION:

The VENDOR shall execute the registered sale deed in favour of the

PURCHASERS and/or their nominee/s and/or their assignee/s within 15

days from today.

7. PUBLIC NOTICE:

The PURCHASERS are at liberty to issue public notice in the

Kannada/English Daily News Paper about the purchase of the Schedule ‘B’

Property and if the PURCHASERS receive any claims/objections for sale of

the Schedule Property, then the VENDOR shall settle/clear such

objections/claims at its cost immediately. In the event of VENDOR failure

to comply with the same, and if the PURCHASERS settle the said

objections / claims, the PURCHASERS shall be at liberty to claim the

amount spent for settling the objections / claims from the VENDOR

8. NOMINATION:

The VENDOR shall sell the Schedule ‘B’ Property in favour of the

PURCHASERS and/or their nominee/s and/or their assignee/s

9. TITLE:

a. The VENDOR has delivered to the PURCHASERS photo copies of

available documents in respect of the Schedule ‘B’ Property. The

VENDOR agrees to furnish such other relevant documents (whenever

the PURCHASERS demand for the same without any delay or default) as

may be required and answer all reasonable requests to be made on

title of the VENDOR over the Schedule ‘B’ Property and the sale of

the Schedule ‘B’ Property shall be subject to marketability of title.

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b. The VENDOR covenants with the PURCHASERS that in case the

PURCHASERS are deprived of the right to purchase any part of the

Schedule ‘B’ Property hereby agreed to be sold by reason of any defect

found in the title of the VENDOR or any encumbrance or any charge in

the same to which this agreement is not subjected, the VENDOR shall

pay to the PURCHASERS the whole amount paid herein and all the

consequential losses and damages of like a sum, in the event if the

VENDOR fails to pay the said amount (in full), the PURCHASERS will

have first charge on the Schedule ‘B’ Property until repayment of all the

amounts with losses, damages, interest etc., due.

c. The Purchasers will be at liberty to cancel this Agreement and claim for

advance amount paid under this Agreement If the Purchasers loan is

rejected by the Bank due to the non-production of any property

documents.

10. STATEMENT OF CONFIRMING PARTY:

As the Schedule ‘B’ Property is allotted to the Vendor herein as excess

site in terms of the Supplement Sharing Agreement dated 03/08/2019,

which is entered between Confirming Party and the Vendor herein,

thus Confirming Party hereby declare that, the Vendor herein is the

absolute owner of the Schedule ‘B’ Property and they don’t have any

manner of right, title, interest over the Schedule Property, on token of

their consent the Confirming Party have joined as Parties to this Sale

Agreement and they also undertake to be as Confirming Party to the

Sale Deed to be executed by the Vendor in favour of Purchasers

herein.

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11. STAMP DUTY AND REGISTRATION FEE AND LEGAL FEES:

The PURCHASERS shall bear and pay the cost of stamp duty and

registration fee and other expenses for registration of the Sale Deed in

respect of Schedule Property.

12. VENDOR COVENANT:

a. That during the subsistence of this Agreement to Sell, the VENDOR

shall not deal with the Schedule ‘B’ Property in any manner

prejudicial to the interest of the PURCHASERS, on the other hand it

shall keep its title intact and shall not encumber the Schedule ‘B’

Property.

b. It is agreed by the VENDOR that, the Sale Consideration finalized is

subject to availability of Physical measurement of the Schedule ‘B’

Property, in the event any shortage in the Physical measurement or in

the event of acquisition of portion of Schedule ‘B’ Property by

Government or BBMP or any Authority, then the proportionate Sale

consideration amount will be deducted in the total Sale consideration

amount.

13. POSSESSION:
The VENDOR shall deliver and put the PURCHASERS or their nominee/s

in actual physical vacant possession of Schedule ‘B’ Property at the time

of execution of Sale Deed and it is a condition precedent.

14. MAINTENANCE
The Vendor/developer maintains the Layout for 2 years starting from

1st April 2020 to 31st March 2022. Starting from 1 st April 2022 Layout

maintenance shall be taken over by “GREEN VALLEY PLOT OWNERS

ASSOCIATION”. The maintenance amount, Rs.4/-square feet per

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 annum to be deposited in advance for a period of 5 years to the said

Association at the time of registration. By paying the said maintenance

amount the Purchasers becomes the member of “GREEN VALLEY PLOT

OWNERS ASSOCIATION”. Club house charges to be separately paid to

the DEVELOPER at the time of registration of Absolute Sale deed of

plot. The Club house scheduled to commence its operations from

December 2022 onwards.

15. CUSTODY OF SALE AGREEMENT:

This Sale Agreement is prepared in one set, original will be with the

Purchasers and photocopy of the same will be with the Vendor.

16. SPECIFIC PERFORMANCE:

a) If the Vendor fail to sell the Schedule ‘B’ Property in terms of this

Agreement, the Purchasers are entitled to enforce specific

performance of this Agreement or in the alternative, seek for return

of the advance amount and such other sums paid, if any, and also

entitled to a sum of Rs.50,000/- (Rupees FIFTY THOUSAND Only) by

way of liquidated damages for non-compliance of the terms and

conditions of this Agreement and Vendor agrees to pay the same.

b) In the event, in-spite of Vendor performing its part of obligations set

forth in this sale agreement, if the Purchasers fail to purchase the

Schedule ‘B’ Property in terms of this Agreement, the Vendor is

entitled to enforce specific performance of this Agreement or in the

alternative, forfeit Rs.50,000/- (Rupees FIFTY THOUSAND Only) from

the advance amount paid herein by way of liquidated damages for

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 non-compliance of the terms and conditions of this Agreement and

refund the balance sums on such termination.

SCHEDULE ‘A’ PROPERTY

(Description of the property owned by the Confirming Party in which Schedule ‘B’
Property is carved out)
All that piece and parcel of property bearing Sy.No. 69, measuring an extent of
32 ¼ Guntas (Thirty Two and Quarter Guntas) out of total extent of 03 Acres 09
Guntas of land, situated at Guddahatti Village Attibele Hobli, Anekal Taluk,
Bangalore District, duly converted for residential purposes, vide official
memorandum dated 04/12/2014, bearing No.ALN (A) (A) SR: 45/17-18, issued
by the Deputy Commissioner, Bangalore Urban District, and bounded on the:
East by : Land bearing Sy.No. 71/1,

West by : Land bearing Sy.No. 68.

North by : Bendiganahalli Village Border.

South by : Remaining land in Sy.No.69.

SCHEDULE ‘B’ PROPERTY

(Description of the property agreed to be sold under this Sale Agreement)

ALL THAT PIECE AND PARCEL of immovable property bearing Residential

Conversion Site No.48, PID No. 150200101500820382, Asset No.900/48
carved out of 69, measuring East to West 35.02 feet and North to South:
51.71 feet in all measuring 1810Sq. feet in the layout Known as “GREEN
VALLEY 2.0”, (formed on Sy. Nos. 69, 70/1, 70/2, 74/3, 74/4 & 74/7 in all
measuring 8 acres 16 guntas situated at Guddahatti Village, Attibele Hobli,
Anekal Taluk, Bangalore Urban District. (Conversion Order bearing No. ALN(A)
(A)SR:45/2017-18, Dated: 04/12/2017,Passed by the Deputy
Commissioner, Bangalore Urban Dist. And Layout Approved from Anekal
Planning Authority (BMRDA/APA) vide approved No-APA/LAO/51/2018-19,
Dated:01/07/2020 and bounded on:-

East By : Sy No.71
West By : Site No.47
North By : Site No-42
South By : 9 Mtrs Road.

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IN WITNESS WHEREOF, the parties hereto have signed and executed this
agreement on the day, month and year first above written at Bangalore in the
presence of the following witnesses.

1. [PUTTAMMA] BEST PROPERTIES & DEVELOPERS

Represented by its Partner
L.Subbaiah Naidu
(Vendor/Developer)

2.[SUNIL]
1. PADMA MANDIRAM PILLAI

3.[GUNA] 2. RAJESH KUMAR RAMASAMY

(Confirming Party) (Purchasers)

WITNESSES:

1.

2.

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