Agreement for Sale

Agreement for Sale

This Agreement for Sale is made at Padappai on 05-10-2026 between Rajesh Kumar S (the Seller) and Arun Krishnamurthy (the Buyer).

Whereas

Kandasamy R sold the Schedule property to Lakshmi Devi K by sale deed 2341/1992 dated 18-11-1992. Lakshmi Devi K gifted it to her son Sundaram K by gift deed 78/2001 dated 12-01-2001. Sundaram K sold it to Murugan P by sale deed 4892/2008 dated 14-07-2008. Murugan P settled it on his daughter Priya Murugan by settlement deed 1287/2015 dated 16-04-2015. Priya Murugan sold it to Rajesh Kumar S by sale deed 4521/2019 dated 21-06-2019, and the patta was transferred to him on application; it stands as Patta No. 541 in his name. Rajesh Kumar S deposited the title deeds with Indian Bank, Padappai Branch, for a loan of Rs. 25,00,000 by memorandum 3310/2020 dated 12-08-2020, and the bank released the deposit by receipt 812/2024 dated 05-02-2024. Each of these is a registered document. The Seller is thus the absolute owner of the Schedule property, free of any charge.

Now this agreement witnesses

1. Consideration. The Seller agrees to sell and the Buyer agrees to buy the whole of the Schedule property for Rs. 2,10,00,000 (Rupees Two Crore Ten Lakh only).
2. Advance. The Buyer has this day paid Rs. 21,00,000 (Rupees Twenty One Lakh only) as advance and part of the consideration, by RTGS to the Seller's bank account, the receipt of which the Seller acknowledges. Possession is not given under this agreement.
3. Balance. The balance of Rs. 1,89,00,000 shall be paid at the registration of the sale deed, on or before 04-12-2026.
4. Tax at source. Where the income-tax law requires tax to be deducted at source on this transfer, the Buyer shall deduct it from each payment, remit it against the Seller's PAN and give the Seller the certificate. An amount so deducted counts as paid to the Seller.
5. Line clearance. Before the sale deed is registered, the Seller shall obtain a letter from TANTRANSCO, the state transmission utility, confirming the alignment of the 110 kV line near the Schedule property and that no tower or line corridor lies on it.
6. Title and dues. The Seller shall produce the original title deeds for inspection by the Buyer's advocate, pay the land revenue (kist) up to date, and hand over the originals on the day the sale deed is registered.
7. Stamp duty and fees. The Buyer shall bear the stamp duty and registration fee on this agreement and on the sale deed.
8. Default. If the Seller fails to execute and register the sale deed when the Buyer tenders the balance, the Seller shall refund the advance together with an equal sum as damages, without prejudice to the Buyer's right to seek specific performance. If the Buyer fails to pay the balance within the time fixed, the Seller may forfeit the advance as earnest money and treat this agreement as cancelled.

Schedule of Property

All that piece and parcel of dry (punjai) ryotwari land in No. 088 Padappai Village (spelt Patapai in the revenue records), Kundrathur Taluk, Kancheepuram District, comprised in Survey No. 148/1 (old Survey No. 148), Patta No. 541, the whole of the said sub-division, measuring 9 ares (0.09 hectare, that is 900 sq.m or about 9,688 sq.ft), within the Sub-Registration District of Padappai and the Registration District of Chennai South, bounded (as on the FMB sketch of Survey No. 148/1) on the North by Survey No. 146, on the South by Survey No. 152, on the East by Survey No. 148/2 and on the West by Survey No. 149, together with all rights of way and easements appurtenant to it.

Registration

Signed in ink by the Seller and the Buyer before two witnesses and registered at the Sub-Registrar's Office, Padappai, as Document No. 6811/2026 on 05-10-2026. Stamp duty of Rs. 200 and a registration fee of Rs. 21,000 (1% of the advance, possession not being given) were paid online through TNREGINET.