Agreement for sale (Sale Agreement 06 08 2026)

What the document covers

The Agreement for sale records the terms on which a promoter will transfer the property described in Schedule B to an allottee. It can be adapted for residential or commercial complexes and plotted developments. Promoters and allottees may be individuals, companies or partnership firms, while an allottee may also be a Hindu Undivided Family.

The template requires details of the land, ownership documents, project approvals and Real Estate Regulatory Authority registration. It also records that the allottee has checked the promoter's title, approvals and statutory compliance.

Who it affects

The Agreement for sale affects promoters selling an undivided land share or plot and allottees purchasing that interest. For an apartment project, the allottee must also enter into a construction agreement with the promoter and make payments according to the relevant schedules.

Property buyers should check all blank fields, schedules, approval details, consideration amounts and payment terms before signing. The supplied text leaves several project-specific details to be completed by the parties.

Key provisions

• The promoter agrees to transfer Schedule B property for the consideration stated in the document, payable according to Schedule C.
• If project finance creates a charge over Schedule A, the promoter must release Schedule B from that charge and provide a release and no objection certificate within the period inserted in the agreement.
• Except for any disclosed charge, the promoter promises that Schedule B is free from title defects and encumbrances.
• The promoter must not create a charge over Schedule B or agree to transfer it to another person while the agreement remains in force.
• The allottee cannot assign or transfer their interest before registration of the sale deed without the promoter's written consent. The template also provides for an assignment fee, but no percentage is stated in the supplied text.
• The sale deed will be executed and registered only after the promoter receives all amounts due under the agreement and any connected agreements.
• The allottee bears stamp duty, registration charges, legal expenses and incidental registration expenses.
• If the allottee defaults in payment or withdraws without promoter default, the promoter may cancel after 15 days' notice. After deducting the booking amount, the promoter must refund collected money within 45 days, without interest, subject to the required cancellation documentation.
• The promoter pays applicable property outgoings until sale deed registration or delivery of possession, whichever occurs earlier. The allottee becomes responsible from that point.