AGREEMENT OF CONSTRUCTION AND SALE

THIS AGREEMENT OF CONSTRUCTION AND SALE, is made on this

22nd day of July, 2021 at Canacona-Goa.

BETWEEN

1. SHRI. ANAND KASHINATH NAIK DESAI, Son of late Kashinath Naik

Desai, aged about 65 years, Occupation Business, Married, holder of
Aadhaar No. 884273541424, Pan NO. AIMPK7684E, Contact No.
9921877929, and his wife:
2. MRS. MILAN ANAND NAIK DESAI, Daughter of late Shamba Fal
Dessai, aged about 61 years, Occupation Retired Govt. Teacher,
holder of Aadhaar No. 862639736422, Pan NO. AAGPF9232R,
Contact No. 8552893133, both residents of H.No. 59/4, Bhatpal,
Shristhal, Canacona-Goa; hereinafter referred to as the
‘PROSPECTIVE VENDORS’ (Which expression shall unless
repugnant to the context of meaning thereof be deemed to include
their heirs, executors, administrators and assigns) of the SECOND
PART.
AND

MR. ANIL THOMAS, Son of Vilangara Geevarghese Thomas, aged about

34 years, Occupation I.T. Professional, Bachelor, holder of Aadhaar No.
366008017819, Pan No. AMJPA2815Q, Contact No. 7569327609, R/o.
14-20-470/1 Ranaprathap Nagar Lane, Beside Saraswathi School,
Borabanda, Balanagar Moosapet, Rangareddi, Andhra Pradesh 500018;
hereinafter referred to as the ‘PROSPECTIVE PURCHASER’ (which
expression shall unless repugnant to the context of meaning thereof be
deemed to include his heirs, executors, administrators and assigns) of
the SECOND PART.
The Parties to this Agreement of Construction and Sale are INDIAN
NATIONALS.
WHEREAS, there exists a landed Property known as ‘EDUCHACTAM’, (As
per Matriz Records) which is registered under no.119 Situated in ward
Bhatpal, within the Jurisdiction of Village Panchayat of Shristhal, Taluka
and Sub District of Canacona, District of South Goa, State of Goa; which is
inscribed in the name of Ragoba Loximona Naique, who is the Grandfather
of the Vendor No.1, and the said property is recently surveyed under survey
no.157/0 of village Canacona Taluka Canacona Goa.
 2
AND WHEREAS, the Mother of Vendor No.1, Smt. Satyawati alias Yessu
Naik, widow of late Kashinath Naik Desai, upon the death of her husband,
filed a Regular Civil Suit No.46/2014, in the Court of Civil Judge, Jr.
Division, at Canacona, Goa; for partition of the properties, including the
property under survey no.157/0 of village Canacona Taluka Canacona
Goa.

AND WHEREAS, as per the Consent Decree passed in Regular Civil suit
No.46/2014, before the Lok Adalat, dtd.11/4/2015, the said property
under survey no.157/0 of village Canacona, was partitioned into Plots
nos.A, B, C , D, E and F, and the VENDORS were allotted Plot No.A
having area admeasuring about 2900 sq.mts. and Plot B admeasuring an
area about 20,800 sq.mts. of the property under survey no.157/0 of village
Canacona Taluka Canacona Goa.

AND WHEREAS, by a Deed of Relinquishment and Deed of Succession of

Undivided and Illiquid rights to the inheritance, dtd.19 th July, 2007.
recorded at pages 27 reverse to 32 reverse of the Notarial book for Deeds
no.13, dtd.30/5/2016, the five daughters of Smt. Satyawati alias Yessu
Naik, Widow of Kashinath Naik Desai, alongwith their spouses, have
relinquished their rights in the property in favour of their Mother and
Moiety Holder, Smt. Satyawati alias Yessu Naik, half share and half share
in favour of their 02 brothers namely Shri. Anand Kashinath Naik Desai,
married to Milan Anand Naik Desai and Dinesh Kashinath Naik Desai
married to Chanda Dinesh Naik Dessai, both residents of Bhatpal,
Shristhal, Canacona Goa.

AND WHEREAS, based on the Consent Decree, passed in Regular Civil suit
No.46/2014; the VENDOR No.1 alongwith his wife, has applied for
Mutation into the survey records, under Mutation case No. 13384, and
without any objection, their names have been mutated and thereafter the
property allotted to the VENDOR NO.1 and his wife, has been partitioned
and the Inspector of Survey and Land Records has issued a separate
survey no.157/1-E of Village Canacona Taluka Canacona, to the Plot B,
having area admeasuring 20,800 sq.mts. which is more clearly described in
Schedule A appearing hereinafter.

AND WHEREAS, the Office of the Deputy Town Planner, Town and
Country Planning Department, Taluka Office, Canacona-Goa; vide
Technical Clearance Order under Ref. No.
3
TPC/2157/Canacona/157/1/2021/44 dated 21/01/2021 has permitted
the VENDOR No.1, for carrying out the work of proposed construction of
Residential building (G+2) with stilt at lower ground floor in survey
no.157/1-E of Village Canacona, Taluka Canacona-Goa, with the
conditions incorporated therein.

AND WHEREAS, vide Construction licence under no. VPS/CAN/ 2020-

21/02/971 dated 15/02/2021 issued by Village Panchayat of Shristhal,
Taluka Canacona-Goa, the VENDORS have been permitted to do the
construction of Residential building (G+2) with stilt at lower ground floor in
the property described in Schedule B appearing hereinafter, as per the
terms and conditions incorporated in the said Construction Licence and as
imposed in the Order no.TPC/2157/Canacona/ 157/1/2021/44
dtd .21/01/2021.

AND WHEREAS, Vide Sanad under no. AC-II/CAN/SG/CONV/

29/2020/5544 dated 31/05/2021 issued by the Office of the Collector
South Goa District, Canacona-Goa, the VENDORS have been permitted to
use the said plot of the property admeasuring about 3234 Sq.mts. under
survey no. 157/1-E of Village Canacona, Taluka Canacona-Goa, for
construction of the building for Residential purpose only as per the
approved plan by the Deputy Town Planner, at Canacona Goa, and the
said Plot is more clearly described in Schedule B appearing hereinafter.

AND WHEREAS, the PURCHASER has shown his willingness to purchase a

flat in the said proposed building namely Flat No.DB-8, on the Second
floor, of building identified as MOUNT VIEW APARTMENTS, in said
building complex, having super built up area of 97.00 sq. mts.; hereinafter
referred to as the said premises and marked with red boundary lines on the
plan annexed hereto at for a total price consideration of Rs.43,00,000/-
(Rupees Forty Three Lakhs Only) i.e. @ of Rs.44,330/- (Rupees forty
three thousand three hundred and thirty only) per sq. mtr. which
includes cost of construction of the said premises and value of
proportionate undivided right in the said property corresponding the said
premises.

NOW THIS AGREEMENT WITNESSETH AS UNDER;

1. The VENDORS shall under normal conditions and subject to the

payments to be made by the PROSPECTIVE PURCHASER as
 4
enumerated in SCHEDULE ‘C’ hereunder, shall construct and
complete the said premises as per the sanctioned building plans on
the said property and as per the SPECIFICATIONS annexed hereto
seen and approved by the PROSPECTIVE PURCHASER with such
variations in the said plans and specifications as the VENDORS, may
consider necessary or as may be required by the Town and Country
Planning Department, and/or other Concerned Authorities the
PROSPECTIVE PURCHASER hereby expressly consents to all such
variations and further agrees that he shall not be entitled to or
demand any compensation or reduction in the price of said premises
by reason of such variations provided, however, that the total super
built up area of the said premises agreed to be sold to the
PROSPECTIVE PURCHASER shall not be reduced by reason of such
variations.
2. The PROSPECTIVE PURCHASER agrees that all the terms and
conditions contained in the development permissions, construction
license etc. sanctioning the building plans shall be binding upon the
PURCHASER and the PURCHASER shall not raise any objection
whatsoever in respect of or with regard to any of the said building
plans and/or in respect of the rights and privileges conferred upon
the VENDORS under this agreement.

3. The PROSPECTIVE PURCHASER hereby agrees to purchase the said

premises shown in the plan annexed hereto in the said proposed
building in the said property for a price of Rs.43,00,000/- (Rupees
Forty Three Lakhs Only) i.e. @ of Rs.44330/- per sq.mt. (Rupees-
forty four thousand three hundred and thirty only) which will be
paid by the PROSPECTIVE PURCHASER to the VENDORS in
installments as mentioned in the SCHEDULE ‘C’ hereunder.

4. The PROSPECTIVE PURCHASER hereby agrees to pay all amounts

payable under the terms of this Agreement as and when they become
due and payable, the time for payment of each of such installments
being the essence of contract. It is expressly agreed between the
parties that the VENDORS are not bound to give any notice requiring
such payment and shall not be an excuse for no payment or delayed
payment of any amount or amounts on their respective dates.
5
5. If the PROSPECTIVE PURCHASER commits defaults in payment as
when they become due and payable (time being the essence of the
contract) and/or fails to observe and/or perform any of the terms and
conditions of this Agreement, the VENDORS shall be at liberty to
terminate this Agreement, by giving 15 days advance Registered A/d
notice to the PROSPECTIVE PURCHASER, in which event the
amount of 10% of the value shall be forfeited and remaining amount
to be refunded without interest to the PROSPECTIVE PURCHASER.

6. The VENDORS terminating this Agreement under this clause, they

shall be at liberty to sell off the said premises to any other person as
the VENDORS may deem fit and such price as the VENDORS may
determine and the PROSPECTIVE PURCHASER shall not be entitled
to question such sale or to claim any amount from the VENDORS.

7. Without prejudice to the VENDORS other rights under this Agreement

and/or in law, the PROSPECTIVE PURCHASER shall be liable to pay
to the VENDORS interest at the rate of 24% (Twenty four per cent) per
annum on all amounts due and payable by the PROSPECTIVE
PURCHASER under this Agreement, if such amounts remain unpaid
for 15 (fifteen) days or more becoming due.

8. The said premises shall be delivered to the PROSPECTIVE

PURCHASER after the said premises is ready for occupation,
PROVIDED all the amounts due and payable by the PROSPECTIVE
PURCHASER are paid to the VENDORS as enumerated in
SCHEDULE C. The issuance of the Occupancy Certificate or
Completion Certificate from the concerned Authority shall be
conclusive proof of completion.

9. The possession of the said premises has not been delivered or secured
under this Agreement and same shall be secured either by conveying
the said premises with building to Housing Society, if formed, or by
executing the individual Sale Deed.

10. The PROSPECTIVE PURCHASER shall take delivery of the said

premises on payment of the aforesaid amounts within 7 (seven) days
on the VENDORS giving written notice to the PROSPECTIVE
PURCHASER intimating that the said premises is ready for
 6
occupation. SUBJECT to the PROSPECTIVE PURCHASER making
the full payment of all the amounts due by him/her/them under this
Agreement and subject to ‘Force Majeure’ the said premises shall be
delivered by the VENDORS to the PROSPECTIVE PURCHASER on or
before expiry of 24 months (twenty four months) from the date of
execution of this Agreement. The VENDORS shall not incur any
liability if they are unable to deliver the said premises by the date
aforesaid, if the completion of the said premises is delayed by reason
of non-availability of Vital construction materials or Electric Power or
Water supply or by reason of War, Civil Commotion or any Act of God
or if non-delivery of same as a result of any Notice, Order, Rule or
Notification of the Government or Municipality or a Court of law or
Tribunal on account of the Government not granting any Permissions,
Licences, Certificates, NOC’S and other requirements or for any
reason whatsoever or on account of any circumstances beyond the
control of the VENDORS or for any other unavoidable, unforeseen
or inevitable circumstances.

11. Upon the said premises being delivered to the PROSPECTIVE

PURCHASER, he/she/they shall be entitled to use and occupy the
same for permissible purposes by concerned Authorities and not for
any other purpose. Upon the PROSPECTIVE PURCHASER taking
delivery of the said premises, he/she/they shall have no claim against
the VENDORS in respect of the nature of work of the said premises,
which may be alleged not to have been carried out, or completed.

12. Commencing a week after the notice is given by the VENDORS to

the PROSPECTIVE PURCHASER that the said premises is ready for
use and occupation, the PROSPECTIVE PURCHASER shall be liable
to bear and pay all taxes and charges for Electricity and other services
and outgoings payable in respect of the said premises. The said
payments shall be made before taking the possession of the said
premises.

13. The PROSPECTIVE PURCHASER hereby expressly agrees that in

the event of any amount by way of premium or Security deposit,
Service tax or any other taxes becoming payable to Village Panchayat
Authorities or any other Government Authorities, either for
betterment charges or any development tax or security deposit or any
 7
other tax including Service tax or payment of similar nature becoming
payable by the VENDORS the same shall be reimbursed by the
PROSPECTIVE PURCHASER to the VENDORS in proportionate to
the area of the said premises agreed to be purchased by the
PROSPECTIVE PURCHASER.

14. The PROSPECTIVE PURCHASER shall not use the said premises
in contravention of the conditions as stipulated in the licence issued
for the purpose of construction of said building complex by the
Panchayat Authorities or any other concerned Authorities.

15. The PROSPECTIVE PURCHASER shall maintain the front

elevation and the side and rear elevations of the said premises in the
same form as the VENDORS constructed it and shall not at any time
alter the said elevations in any manner.

16. The PROSPECTIVE PURCHASER has satisfied himself about the

specifications of the said building and the said premises and
amenities to be provided therein. PROVIDED, HOWEVER, that if the
PROSPECTIVE PURCHASER requires any amenities other than those
provided, the VENDORS may provide them on such written request
made by the PROSPECTIVE PURCHASER to the VENDORS during
the construction. The said amenities provided upon such request in
writing shall be considered as extra amenities and shall be charged
for over and above the consideration contained at clause (2) above.
The PROSPECTIVE PURCHASER shall be bound to pay to the
VENDORS the price for the extra amenities provided at the market
price, which shall be quoted to the PROSPECTIVE PURCHASER by
the VENDORS before starting of said extra works.

17. The PROSPECTIVE PURCHASER shall from the date of taking

delivery of the said premises at his/her/their costs, in a good and
tenantable repair and condition and shall not do or suffer to be done
anything in or to the said premises or the stair case and commons
passages which may be against the rules or bye laws. PROVIDED, it
does not in anyway effect or prejudice the rights of the PROSPECTIVE
PURCHASER in respect of the said premises, the VENDORS shall be
at liberty to sell, assign, transfer or otherwise deal with his/her rights,
title and interest in the said premises and/or in the building to be
constructed thereon.
 8
18. The PROSPECTIVE PURCHASER shall have no claims
whatsoever, except in respect of the said premises hereby agreed to be
acquired and the proportionate right in the land where the building is
constructed as also the proportionate right to the staircase.

19. Nothing contained in this Agreement is intended to be nor shall be

construed to be a grant, demise or Assignment in law of the said
premises or the land, hereditaments and premises or any part thereof
or of the said building thereon or any part thereof.

20. The PROSPECTIVE PURCHASER shall not Let, Sub-let, Sell,

Transfer, Assign or Part with his/her/their interest under this
Agreement unless the payments payable under this Agreement are
fully paid up and only if the PROSPECTIVE PURCHASER, has not
been guilty of breach of or Non-observance of any of the terms and
conditions of this Agreement and until he obtain previous Consent in
writing from the VENDORS.

21. The PROSPECTIVE PURCHASER and the persons to whom the

said premises is Let, Sub-let, Transferred, Assigned or given
possession shall from time to time sign all applications, papers and
documents and do all acts, deeds and things as the VENDORS may
require for safeguarding the interest of the VENDORS and/or the
PROSPECTIVE PURCHASER in the Building Complex.

22. All notices to be served to the PROSPECTIVE PURCHASER as

contemplated in this Agreement shall be deemed to have been duly
served if sent to the PROSPECTIVE PURCHASER under certificate of
posting at his/her/their address given herein below;
MR. ANIL THOMAS,
Son of Vilangara Geevarghese Thomas,
R/o. 14-20-470/1 Ranaprathap Nagar Lane, Beside
Saraswathi School, Borabanda, Balanagar Moosapet,
Rangareddi, Andhra Pradesh 500018.

23. The VENDORS shall have a Second lien and paramount charge on
the said premises agreed to be purchased by the PROSPECTIVE
PURCHASER in respect of any amount payable by the
PROSPECTIVE PURCHASER under the terms and conditions of this
agreement.
9
24. If at any time prior to or even after the execution of the Deed of
Conveyance the floor area ratio at present applicable to the said land
is increased, such increase shall accrue to the benefit of the
VENDORS alone without any rebate to the PROSPECTIVE
PURCHASER, however the right conferred to the PROSPECTIVE
PURCHASER under this Agreement shall not be reduced.

25. The PROSPECTIVE PURCHASER shall join the co-operative

society or any other legal entity that may be formed by the purchasers
of various premises in the said building and shall pay all fees, shares,
etc. that may be payable on account of formation, registration and
membership of such society or any other legal entity. The VENDORS
undertakes to co-operate with the PROSPECTIVE PURCHASER and
purchaser of other premises in formation of such society or any other
body and to sign all documents and other papers as may be required
for said purposes.

26. The PROSPECTIVE PURCHASER shall pay to the VENDOR an

amount of Rs.30,000/- (Rupees Thirty Thousand only) as charges towards
Maintenance, for first one year and the PROSPECTIVE PURCHASER shall
pay the above-referred amount to the VENDOR on taking the possession of
the premises and further Maintenance charges, shall be paid on formation of
the Housing Co-operative Society, of which the accounts are to be submitted
to the Housing Society on its formation or the same shall be maintained by all
the flat owners.

27. It is hereby agreed that the Deed of Conveyance and all such other
Deeds and documents to be executed between the PROSPECTIVE
PURCHASER and the VENDORS shall be prepared by the Advocate
for the VENDORS and that all such costs and expenses including
Stamp duty and Registration charges incurred for executing the Deed
of Conveyance shall be borne by the respective buyer as per
his/her/their proportionate share.

28. The PROSPECTIVE PURCHASER does hereby agrees and declares

that he/she/they has inspected all the titled documents/licences of
the said Project and is fully satisfies with the same and is further
satisfied of the Authority of the VENDORS to execute this Agreement.
29. The Parties hereto agree that all questions and disputes regarding
completion of stages of construction or final completion of the said
building complex fixed for the payments of installments shall be
finally decided and/or settled by the Architect’s Certificate of such
stage or of final Completion and such Certificate shall be binding on
both the Parties.

30. In case any one of the Party to this Agreement violates any terms
and conditions of this Agreement, the aggrieved party shall be entitled
for Specific Performance of this Agreement at their option.
--10--
31. That in terms of payment of SCHEDULE as enumerated in the
annexed SCHEDULE ‘C’ the PROSPECTIVE PURCHASER has paid
an amount of Rs.2,15,000/- (Rupees Two Lakhs Fifteen Thousand
only) equivalent to 5% of the total consideration of the Flat.

SCHEDULE A
(Description of the said property)

All that Plot B being part of the landed Property known as

“EDUCHACTAM’, (as per Matriz records) situated in ward Bhatpal,
within the Jurisdiction of village Panchayat of Shristhal, Taluka and Sub
District of Canacona, District of South Goa, State of Goa; which is not
described in Land Registration Office but enrolled in the Taluka Revenue
Office of Canacona, under Matriz no. 119 having area admeasuring
about 20,800 sq.mts. and the said property is recently surveyed under
survey no.157/1-E of village Canacona Taluka Canacona Goa and as per
matriz records the entire property is bounded as under;
East :- by road
West :-by property survey under no.157/1D of village Canacona Taluka
Canacona
South :- by property surveyed under survey no.157/1-A and 157/1-A of
village Canacona Taluka Canacona
North :- by property surveyed under survey no.156/5 of village
Canacona Taluka Canacona.

SCHEDULE B
 (Description of the said property)
ALL THAT Plot being part of the landed Property known as
“EDUCHACTAM” described in Schedule A hereinabove situated in
ward Bhatpal within the Jurisdiction of Village Panchayat of Shristhal,
Taluka and Sub-District of Canacona, District of South Goa, State of
Goa, which is not described in the Land Registration Office but enrolled
in the Taluka Revenue Office of Canacona, under Matriz no.119 and
surveyed under survey no.157/1-E (part) of Village Canacona, Taluka
Canacona-Goa; used for construction of the said building having area
admeasuring about 450 sq.mts. and the said plot is bounded as under:-
East :- by road
West :-
North :-
South :-
--11--

SCHEDULE C
(Modes of payments of installments)
1. At the time of booking 80% of the total consideration.
2. At the time of handing over of the ready flat 20%.

SPECIFICATIONS

FLOORING :-
Living/Dining, Balconies Other Rooms ---all Vitrified flooring

Wall Finish
External paints will be two coats of cement paint ;
Internally in oil bound distemper.

Kitchen
Platform-Granite Counter with Stainless Steel Sink with Drain Board.
Dado-Ceramic Tiles 600 mm above Counter.
Purifier/Water Point.

Toilets
Dado-Ceramic Tiles up to 7 ft. height.
All Quality branded Fittings.
And flooring Ceramic stones.

Doors
Main Entrance Door -Teakwood Door.
Hall/Balcony and Master Bed Room :- Aluminum sliding glass doors and
internal doors with be of wooden doors.

Bathrooms – European Style and PVC Doors.

Windows- Powder Coated/Anodized Aluminium.

Electrical
Ac point to all living areas.
Cable, TV, Intercom, Internet Provision,
Modular Switches quality brand
Geezer points to Bathrooms.

---12--
Plumbing : In good quality PVC piping with standard fitting. standard
bathroom fittings of make Jaquar essco will also be fitted. A common
underground sump with a common electric pump and an overhead water
tank is provided.

IN WITNESS WHEREOF, the parties have signed this Agreement on the

day, month and year Second hereinabove mentioned.

SIGNED BY THE PROSPECTIVE VENDORS:-

1. __________________________
(SHRI. ANAND KASHINATH NAIK DESAI)

2. ___________________________
(MRS. MILAN ANAND NAIK DESAI)

SIGNED BY THE PROSPECTIVE PURCHASER:-

___________________________
(MR. ANIL THOMAS)
WITNESSES:

1. _____________________

2. ______________________