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AGREEMENT OF SALE

THIS AGREEMENT OF SALE is made and executed on this


4th day of August, 2015 at Nagpur,
BETWEEN
(1)

M/s. RAJKALA DEVELOPERS, through its proprietor Shri

Dilip S/o. Ramdas Ukey, Aged about 38 years, Occupation:


Business, PAN NO> AASPU3922H, here-in-after referred to and
called as THE VENDOR, which expression unless repugnant to
the subject, meaning or context thereof shall always mean and
include the said VENDOR as well as its legal heirs, administrators,
executors, assigns and all other person or persons claiming
through or under him, of THE FIRST PART;
AND
(2)

SHRI SANJAY S/o. TARACHAND HARDWANI, aged about

38 years, Occupation: Business, PAN NO. AAEPH3418B; resident

of Flat No. 602, Ishan Apartments, Clarke Town, Kadbi Chowk,


Nagpur,,

here-in-after

referred

to

and

called

as

THE

PURCHASER, which expression unless repugnant to the subject,


meaning or context thereof shall always mean and include the said
PURCHASER as well as his legal heirs, administrators, executors,
assignees and all other person or persons claiming through or
under him of THE SECOND PART;

WHEREAS the vendor herein is the exclusive owner of all


that piece and parcel of Shop bearing No. S-50 covering a Carpet
area of 268.34 Sq. Fts. (i.e. 24.63 Sq. Mtrs), situated on the
Ground Floor of building known as Utkarsha-Nirman together
with Undivided 0.212 % proportionate share and interest in Nazul
Plot No. 151 & 152, admeasuring about 45640 Sq. Fts., Khasra No.
83/2, Mouza- Wadpakhad, City Survey No. 471, Chalta No. 19,
Sheet No. 196, situated opposite Mangalwari Bazar, Sadar, Nagpur,
within the limits of Nagpur Municipal Corporation, Ward No. 63,
Tahsil and District- Nagpur. The Vendor had purchased the said
property by a registered Sale Deed from the owner of the said
property Kumari Reshben D/o. Pankaj Patel, R/o. Ramdaspeth,
Nagpur which is duly registered in the office of Sub-Registrar,
Nagpur

City

No.

8,

Nagpur

at

Serial

No.

7878/2008

on

31/12/2008. The said property is more particularly described in


the Schedule written hereunder.

AND WHEREAS the vendor was interested in selling the


aforesaid property. The Vendor expressed his desire to sell the said
property and as the purchaser was in search of a suitable premise
in the said vicinity, upon coming to know the desire of the Vendor,
the purchaser contacted the vendor and after detailed discussions
and negotiations, the purchaser agreed to purchase the aforesaid
property from the vendor for a valuable consideration.

AND WHEREAS in the backdrop of these facts the parties


have negotiated the terms and condition for this transaction and
upon finalization of the same, it was decided to reduce them into
writing the same are as under:

NOW, THEREFORE, IT IS HEREBY MUTUALLY AGREED BY


AND BETWEEN THE PARTIES AND THIS AGREEMENT TO SELL
WITNESSES AS UNDER:

1.

That, the Vendor shall sell and the Purchasers shall

purchase all that piece and parcel of Shop bearing No. S-50
covering a Carpet area of 268.34 Sq. Fts. (i.e. 24.63 Sq. Mtrs),
situated on the Ground Floor of building known as UtkarshaNirman together with Undivided 0.212 % proportionate share and
interest in Nazul Plot No. 151 & 152, admeasuring about 45640
Sq. Fts., Khasra No. 83/2, Mouza- Wadpakhad, City Survey No.
471, Chalta No. 19, Sheet No. 196, situated opposite Mangalwari
Bazar, Sadar, Nagpur, within the limits of Nagpur Municipal
Corporation, Ward No. 63, Tahsil and District- Nagpur. The said
premises being the subject matter of the instant transaction is
fully described in the schedule written hereunder and delineated
by Blue lines in the map annexed hereto, which shall form the part
and parcel of this Deed. For the sake of brevity and convenience
here-in-under the same is referred to and called as THE SAID
PROPERTY.

2.

That, the purchaser gave a fairly good offer of Rs.

40,00,000/- (Rupees Forty Lakhs Only) which was duly accepted


by the Vendor, therefore the consideration of the transaction is
agreed to be Rs. 40,00,000/-. It is further agreed between the
parties that out of the total consideration of Rs. 40,00,000/-, an

amount of Rs. 36,00,000/- is handed over to the Vendor by the


Purchaser, both in cash and cheque today i.e. at the time of
execution of this Agreement which is admitted and acknowledged
by the Vendor and no separate receipt is issued by the Vendor
acknowledging the receipt of the same. It is further agreed between
both the parties that the remaining balance consideration amount
of Rs. 4,00,000/- (Rupees Four Lakhs Only) shall be paid by the
Purchaser to the Vendor at the time of execution of sale deed which
is to be executed on or before 6 months from today i.e. date of
execution of this Agreement.
MANNER OF PAYMENT
Rs. 21,00,000/-

(Rupees Twenty One Lakhs Only)


Paid by the Purchaser to the Vendor today
by way of Cash, the receipt of which is
admitted and acknowledged by the Vendor
herein.

Rs. 10,00,000/-

(Rupees Ten Lakhs Only)


Paid by the Purchaser to the Vendor Vide
Cheque

No.

_____ dated

drawn

on

Union

Bank

06/08/2015,
of

India,

Gandhibagh Branch, Nagpur, the receipt


of which is admitted and acknowledged by
the Vendor.

Rs. 5,00,000/-

(Rupees Five Lakhs Only)


Paid by the Purchaser to the Vendor Vide
Cheque

No.

_____ dated

drawn

on

Union

Bank

07/08/2015,
of

India,

Gandhibagh Branch, Nagpur, the receipt


of which is admitted and acknowledged by
the Vendor.

Rs. 4,00,000/-

(Rupees Four Lakhs Only)


To be paid by the Purchaser to the Vendor
at the time of execution of Sale Deed
which is agreed to be executed by the
Vendor in favour of the Purchaser on or
before

months

from

the

date

of

execution of this Agreement.

Rs. 40,00,000/-

3.

TOTAL CONSIDERATION

It is agreed between the parties that the Vendor shall Co-

operate with the purchaser to enable him to use the said property
in the best possible manner and for getting the requisite
permissions and also for mutating the name of the purchaser or
his nominee as an owner and possessor thereof in the records of
Government and Semi-Government Authorities.

4.

That, the Vendor does hereby covenant that the property

hereby agreed to be sold is free from all encumbrances and the title
of the Vendor in respect of the said property is clear and
Marketable. The Vendor further covenant that the said property is
not subject to any charge, claim, lien, attachment, notice of
requisition or acquisition. The Vendor further covenant that if the
said property is found subject to any encumbrances or absolute
title of the Vendor is found to be not clear, the Vendor shall
indemnify the purchaser with all losses sustained by him.

5.

That, it is agreed between the parties that in the event the

Vendor fails to execute the sale - deed as agreed for no fault on


the part of the purchaser, the Purchaser shall in his absolute

discretion will be entitled to claim either specific performance


of the contract or for the refund of the money alongwith damages
and interest.

6.

It is agreed between the parties that the Vendor shall carry

on all the acts and cause to do all such things within the said
time, so as to enable him to execute the sale deed in favour of the
purchaser herein at the earliest, within the stipulated time
including obtaining all required permissions or No Objection
Certificate as necessary from the concerned authorities or the
Society.

7.

That, the Vendor today i.e. on the day of execution of this

agreement has handed over shall hand over the actual and
physical possession of the aforesaid property as the Purchaser has
paid nearly the entire consideration amount to the Vendor. It is
agreed between the parties that after execution of the sale deed,
the Vendor shall confer the title in respect of the said property, till
that time the Vendor shall co-operate with the Purchaser to enable
him to use the said property in the best possible manner.
8.

That, it is agreed between the parties that it shall be the

liability of the Vendor to pay all the ground rent, Cess, Electricity
consumption charges, Water Consumption charges, NMC taxes etc.
in respect of the aforesaid property till the date of execution of the
Sale-Deed. The liability of the purchaser to pay any such taxes
/charges etc. in respect of the aforesaid property shall start from
the date of execution of the Sale-Deed by the Vendor in favour of
the purchaser. It is agreed between the parties that it shall be the
responsibility of the Vendor to keep indemnified the purchaser in
respect of any such claim.
9.

That, the property hereby agreed to be sold is believed and

shall be taken to be described correctly in the schedule written

hereunder. If, however, any mis-statement, error or omission, not


affecting the title of the Vendor, shall be discovered, the same shall
not annul this contract nor shall any compensation or premium be
allowed in respect thereof. But all the same such mis-statement,
error or commission will always be subject to correction by the
parties hereto.
10.

That, the Vendor hereby covenant that he do all such acts

and deed so as to enable the Purchaser to enjoy the property. The


Vendor shall also reply to all the interrogatories made by the
Purchaser or his Lawyer in respect of the said property agreed to
be sold hereby, after the execution of this Agreement.
11.

That, it is agreed between the parties that the Purchasers

shall bear all the cost of execution and registration of this


Agreement of Sale as well the Sale Deed.
12.

That, in the event of any dispute or difference of opinion in

between the parties respecting any terms of this Agreement, the


same shall be referred to the sole Arbitration of SHRI DIPENN
JAGYASI (Advocate) as agreed upon by the parties when the
situation arises, whose decision shall be final and binding on the
parties herein.
13.

That, for the matters not specified in this agreement,

provisions of Transfer of Property Act, shall be applicable.

SCHEDULE OF PROPERTY
All that piece and parcel of Shop bearing No. S-50 covering a
Carpet area of 268.34 Sq. Fts. (i.e. 24.63 Sq. Mtrs), situated on the
Ground Floor of building known as Utkarsha-Nirman together
with Undivided 0.212 % proportionate share and interest in Nazul
Plot No. 151 & 152, admeasuring about 45640 Sq. Fts., Khasra No.
83/2, Mouza- Wadpakhad, City Survey No. 471, Chalta No. 19,

Sheet No. 196, situated opposite Mangalwari Bazar, Sadar, Nagpur,


within the limits of Nagpur Municipal Corporation, Ward No. 63,
Tahsil and District- Nagpur and the said Shop Block is bounded as
under:
EAST

Basement and Parking

WEST

Passage

NORTH

Shop Block No. S-49

SOUTH

Shop Block No. S-51

IN WITNESS WHEREOF THE PARTIES HERETO HAVE SET AND


SUBSCRIBED THEIR RESPECTIVE HANDS ON THE DAY, DATE,
MONTH

AND

THE

YEAR

FIRST ABOVE

MENTIONED

IN

PRESENCE OF THE ATTESTING WITNESSES AS FOLLOWS :


WITNESSES:

1. ___________________

___________________________________
(M/s.

DEVELOPERS,

RAJKALA
through its

proprietor
Shri Dilip S/o. Ramdas Ukey)
(VENDOR)

2.___________________

______________________________
(SHRI SANJAY TARACHAND HARDWANI)
(PURCHASER)

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