An Agreement for Sale is the most critical document in any Indian property transaction. It records the agreed price, the payment schedule, the representations of the seller (vendor), and the obligations of both parties before the final conveyance deed is executed. The specimen agreement below is designed for the transfer of a flat in a co-operative housing society in India, and is reproduced here for reference purposes only.
THIS AGREEMENT made at ________ (city) on the __ day of ______ (year)
Between
___________________________, of ________ (city), Indian Inhabitant, residing at ________________________________, hereinafter called "The Vendor" (which expression shall, unless it be repugnant to the context or meaning thereof, mean and include his heirs, legal representatives, executors, and administrators) of the One Part,
And
________________________, of ________ (city), Indian Inhabitant, residing at __________________________, hereinafter called "The Purchaser" (which expression shall, unless it be repugnant to the context or meaning thereof, mean and include his heirs, legal representatives, executors, administrators, and assigns) of the Other Part.
WHEREAS the Vendor is the owner of Flat No. _____, admeasuring about _____ square feet on the _____ floor of the building known as "_________" (hereinafter referred to as "the said Building"), belonging to ______________ Co-operative Housing Society Limited, situated at ________________________. He/she is a member of the said Society, registered under Serial No. _________ of _____, and as a member and owner of the said flat he was allotted five fully paid-up shares of the face value of Rs. 50/- (Rupees Fifty only) each, bearing distinctive Nos. _________ to ____________ (both inclusive) under Share Certificate No. _____ (hereinafter referred to as "the said Shares").
AND WHEREAS the Vendor is now absolutely seized and possessed of and is otherwise well and sufficiently entitled to the said Flat in the said Building of the said Society.
AND WHEREAS the Vendor has agreed to transfer, and the Purchaser has agreed to acquire, all right, title, and interest of the Vendor in the said Flat and the said Shares, with all legal consequences including the right of occupation, for a total consideration of Rs. ________/- (Rupees ______________________ only).
AND WHEREAS the parties hereto have agreed to set down in writing the terms and conditions on which the Vendor has agreed to transfer and the Purchaser has agreed to purchase and acquire the right, title, and interest of the Vendor in the said Flat, including the entire interest of the Vendor in the said Society.
NOW IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS:
- The Vendor doth hereby agree to transfer unto the Purchaser, and the Purchaser doth hereby agree to purchase and acquire, all the right, title, and interest of the Vendor in the said Society, including the said Flat admeasuring about _____ square feet of built-up area on the _____ floor of the building known as __________________ belonging to the _________________ Co-operative Housing Society Limited, situated at _________________________, together with the said Shares bearing distinctive Nos. ________ to _______ (both inclusive) allotted under Share Certificate No. ______, and all the right of the Vendor to the use, occupation, enjoyment, and ownership of the said Flat, for a total consideration of Rs. ________/- (Rupees __________________ only).
- The said consideration shall be paid by the Purchaser to the Vendor as follows:
- (a) Rs. ________/- (Rupees _________________________ only) paid on or before execution of this agreement as Earnest Money, the payment and receipt whereof the Vendor doth hereby admit, acknowledge, and acquit the Purchaser from; and
- (b) The balance consideration of Rs. ________/- (Rupees ______________________ only) shall be paid on or before ____________ against delivery of vacant and peaceful possession of the said Flat by the Vendor to the Purchaser.
- It is agreed that in the event of any delay or default by the Purchaser in making payment of the balance consideration on the due date, the Vendor shall be entitled to give seven days' notice in writing to the Purchaser, making time the essence of the contract. If the Purchaser fails to make payment within such notice period, this Agreement shall be terminated and the Vendor shall be entitled to forfeit the Earnest Money of Rs. __________/- (Rupees __________________________ only).
- It is agreed between the parties that if there is any delay or default on the part of the Vendor in performing his part of the contract, the Purchaser shall be entitled to specific performance of this Agreement together with the right to claim costs, charges, expenses, and losses from the Vendor.
- The Vendor doth hereby declare and covenant with the Purchaser that the said Flat is free from all encumbrances of any nature whatsoever, and that the Vendor has full right, title, and interest in the said Flat and full right and authority to assign and transfer his entire interest in the said Society, including the said Flat and the said Shares, to the Purchaser.
- The Vendor has represented to the Purchaser that:
- (a) The Vendor has paid all dues and outgoings in respect of the said Flat up to date.
- (b) The said Flat is free from all encumbrances.
- (c) The said Flat belongs to the Vendor absolutely, and no other person has any right, title, or interest therein by way of sale, gift, exchange, inheritance, lease, lien, or otherwise.
- (d) The Vendor has full right, power, and absolute authority to sell or transfer the said Flat to the Purchaser, and has not done or committed or omitted to do any act whereby the ownership, possession, and/or occupation of the said Flat may be rendered illegal and/or unauthorised.
- (e) The Vendor shall obtain the necessary No Objection Certificate from the said Society for the transfer and sale of the Vendor's interest in the Society and in the said Flat to the Purchaser, and also for the admission of the Purchaser to the membership of the said Society.
- (f) On payment of the full purchase price, the Purchaser shall be entitled to vacant and peaceful possession of the said Flat.
- The Vendor doth hereby agree to sign and execute any deed or writing, as well as all other papers and documents as may be required by the Purchaser, for transferring the said Flat and the said Shares to the name of the Purchaser in pursuance of this Agreement.
- The Purchaser doth hereby covenant with the Vendor that he shall always abide by the Rules, Regulations, and Bye-laws of the said Society and shall pay the municipal taxes and maintenance charges in respect of the said Flat from the day the Vendor delivers possession. It is specifically agreed that until the said Flat is transferred in the name of the Purchaser, the Purchaser shall not be liable to pay any maintenance charges to the said Society; the same shall be borne by the Vendor.
- The Vendor declares that his membership of the said Society is subsisting and in full force and has not been terminated.
- The Vendor has represented to the Purchaser that the total transfer fee, transfer premium, and/or donation payable to the said Society for transfer of the said Flat and said Shares in the name of the Purchaser shall be borne and paid by both parties in equal proportion.
- It is agreed that the expenses for stamp duty on this agreement or on the final sale deed/transfer deed, and registration charges in respect of this transfer, shall be borne and paid by the Purchaser alone. However, stamp duty in respect of all previous transfers of the said Flat shall be the responsibility of the Vendor.
- The Vendor doth hereby undertake to hand over all documents, including the share certificate, receipts, and papers concerning the said Flat to the Purchaser against receipt of the balance consideration of Rs. _________/- (Rupees ________________________ only).
- The Vendor doth hereby undertake to do and execute all acts, deeds, matters, and things as and when necessary, proper, or expedient for the purpose of fully and effectually transferring the said Flat and the said Shares to and in favour of the Purchaser in the records of the said Society, to enable the Purchaser to have and to hold the said Flat and the said Shares absolutely.
SIGNED AND DELIVERED by the within-named Vendor, Shri ________________, in the presence of:
1. __________________ 2. __________________
SIGNED AND DELIVERED by the within-named Purchaser, Shri ____________, in the presence of:
1. __________________ 2. __________________
Received of and from the within-named Purchaser a sum of Rs. ________/- (Rupees _____________ only) as earnest money for the transfer/purchase of the said Flat/said Shares.
WITNESSES I say received,
1. __________________ Vendor
2. __________________
SCHEDULE OF PROPERTY
What Every Buyer Should Verify Before Signing
An Agreement for Sale creates binding obligations on both parties and, once registered, is admissible as evidence in court. Before signing, the purchaser should independently verify the following: (i) that the seller is the recorded member of the co-operative housing society and holds a valid share certificate in his or her name; (ii) that the society has no outstanding dues, such as maintenance arrears or pending litigation, against the flat; (iii) that there is no loan, mortgage, or lien registered against the property by searching the Central Registry of Securitisation Asset Reconstruction and Security Interest (CERSAI); and (iv) that the building has a valid Occupancy Certificate (OC) issued by the competent municipal authority. Purchasing a flat in a building that lacks an OC can create difficulties in obtaining home loans, water and electricity connections, and resale approvals.
Under the Real Estate (Regulation and Development) Act, 2016 (RERA), developers selling units in new projects are required to use a standardised agreement of sale format prescribed by the relevant State RERA authority; private resale transactions between two individuals (as in this specimen) are not covered by RERA but are subject to the Transfer of Property Act, 1882, the Maharashtra Ownership Flats Act (in Maharashtra), and the applicable State Co-operative Societies Act. Buyers are strongly advised to engage an independent advocate to conduct title due diligence and to review the agreement before payment of any earnest money. Stamp duty rates, society transfer charges, and registration fees as of the original article year — verify current rates with your state's stamp duty authority before proceeding.
DISCLAIMER: These legal forms and documents are provided for reference only. Any agreement you enter into should be drafted and reviewed in consultation with a solicitor or an advocate. Holiday Home Times will not be responsible for any claim arising out of the use of any of the documents reproduced above.