Agreement for sale of a plot in a Development Layout

Agreement for sale made at ........ this ........ day of ................... between ........... Indian Inhabitant,
residing at- hereinafter referred to as the `Vendor' of the one part and ...........Indian Inhabitant
residing at .................................hereinafter referred to as the "Purchaser" of the other part.

WHEREAS

1. The Vendor owns a large piece of land situate at and more particularly described in the First
Schedule hereunder written

2. The Vendor has converted the said land which was agricultural, into non agricultural use with
the permission of the Collector , as per the order passed by the Collector No--- dated ........ a copy
of which is hereto annexed as Annexure 'A'

3. The Vendor has, with the help of his architect, divided the said land into several plots
providing for common internal roads, areas of common use such as children’s play grounds,
community hall, electric station, water pump house, etc and the said layout of the land has been
approved by the Town Planning authority for the locality and the Collector by order No dated - a
copy which is annexed as Annexure B. hereto.

4. The said land is however uneven with trees bushes, ditches, etc and is required to be
developed so as to make it usable for constructing bungalows on the plots, for roads etc.

5. Pending the work of development, the Vendor proposes to sell the plots to different purchasers
for constructing residential bungalows.

6. The Purchaser has offered to purchase one plot being plot No.------of the said land and which
is more particularly described in the Second Schedule hereunder written.

7. A copy of the said layout with the location of the said plot No.------is hereto annexed as
Annexure `C'

8. The parties have agreed to the following terms and conditions for the sale of the said plot
No. .....(hereinafter referred to as `the plot') by the Vendor to the Purchaser.

Now it is agreed by and between the Parties hereto as follows

(1) The Vendor shall sell and the Purchaser shall purchase the said plot more particularly
described in the Second Schedule hereunder written at the price of Rs......on as is where is basis
but subject to the following conditions hereinafter mentioned. The said price is exclusive of the
cost of development of the sale plot which will be actually incurred by the Vendor.

(2) The said price will be paid as follows i. e to say that a sum of Rs....will be paid by Purchaser
to the Vendor on the execution of this agreement as earnest money and the balance will be paid
on the execution of the deed of conveyance of the said plot by the Vendor to the Purchaser.

(3) Vacant possession of the said plot will be given by the Vendor to the Purchaser on the
execution of the deed of conveyance.

(4) The sale shall be completed within a period of one year from the date hereof failing which the
agreement can be cancelled by giving fifteen days prior written notice to the defaulting party,
canceling the agreement and in which event the Vendor shall return the earnest money paid on
the execution of this agreement without interest and without any liability for damages by one
party to the other. This is without prejudice to the right of any party to have this agreement
specifically enforced.

(5) In the mean while the Vendor shall make out a marketable title to the said plot free from
encumbrance and for that purpose shall produce to the Purchaser or his advocate the documents
of title for inspection, and for investigation of title as and when required by the Purchaser or his
advocate.

(6) If the title is not found marketable as aforesaid the Purchaser will be entitled to cancel this
agreement by 15 days notice in writing to the Vendor to that effect and in that event the Vendor
will return to the Purchaser the earnest money without interest and without any liability for
damages or otherwise but without prejudice to the right of the Vendor for the specific
performance of the agreement.

(7) The sale will be completed on the Purchaser accepting the title and the development of the
said land being completed as herein provided.

(8) On the completion of the sale the Vendor and all other interested parties shall execute a deed
of conveyance in favor of the Purchaser or his nominee and all the costs of and incidental to such
deed including stamp duty and registration charges will be paid by the Purchaser.

(9) The said plot will be sold subject to the terms and conditions mentioned in the order of the
Collector and the Town Planning Authority copies of which are hereto annexed and the same
will be binding on the Purchaser and or his legal representatives /Assignees.

(10) The deed of conveyance will contain a covenant for production of the document of title in
the possession of the Vendor in favor of the Purchaser and the Purchaser will not be entitled to
ask for the custody of the original documents. The Vendor will be entitled to transfer the
obligation under such covenant to the Purchaser of any other plot in the said layout.

(11) As the said land described in the First Schedule hereunder written can be developed by a
single agency and not separately by the plot holders, The Vendor has appointed as an agent a
contractor to carry out the development work such as leveling the said land, demarcating each
plot as per the layout, constructing internal roads, providing a garden area, electric station and
water pump in terms of the said orders of the Collector. The Purchaser has been shown the
agreement entered into by the Vendor with the contractor and the Purchaser has accepted the
same. The plots will be developed in terms of the said agreement.

(12) The Purchaser agrees to contribute his share in the total cost of development payable to the
contractor in terms of the said agreement and such share will be determined in proportion to the
area of the said plot with the area of the whole land including the cost of development of the
common areas of roads etc. and common amenities to be provided. In the event of any difference
or dispute regarding the proportionate share of the Purchaser the decision of the Vendor's
architect will be final and binding on the Vendor and the Purchaser. The Purchaser shall pay to
the Vendor on the execution of this agreement a sum of Rs ......... towards such development
charges and the balance will be paid by installments as and when demanded provided that the
same will be paid in full in any event before completion of the sale.

(13) If the Purchaser fails to pay any amount towards the development charges as aforesaid when
demanded the Vendor will be entitled to cancel this agreement and the moneys paid by the
Purchaser to the Vendor under this agreement including the earnest money will stand forfeited to
the Vendor as liquidated damages.

(14) The said land including the said plot will be developed in terms the agreement of
development entered into by the Vendor with the said contractor and the certificate of the
Vendor's architect that development has been carried out accordingly shall be final and binding
on the Purchaser. If in the course of the such development and demarcation of boundaries of the
plot the area of the plot as given in the Schedule hereto is reduced or increased, the price will be
adjusted accordingly at the rate of Rs ................. per sq.ft.

(15) If the said contractor fails to carry out the contract entered into with him as aforesaid, the
Vendor will enter into a similar contract with any other contractor or carry out the development
work himself as the agent of the Purchaser and other plot purchasers and the purchaser will not
be entitled to raise any objection on that account and the purchaser's liability to contribute will
continue as if the said contract of development was subsisting.

(16) If for any reason the development of the said land is delayed beyond one year from the date
hereof, the period for completion will be extended accordingly.

IN WITNESS whereof the Parties have put their respective hands the day and year first herein
before written
The First Schedule above referred to )
(description of the land) )

The Second Schedule above referred to )

(description of the plot) )

Signed and delivered by the within named Vendor )

in the presence of )
Signed and delivered by the within named Purchaser )
in the presence of )