Want to verify the Sale agreement copy
AGREEMENT FOR SALE
FLAT NO.505, FIFTH FLOOR,
BLDG. KNOWN AS “OM NAMAH SHIVAY KALASH"
PLOT NO.55, UNDER GAOTHAN EXPANSION SCHEME
SECTOR-03, KARANJADE, NAVI MUMBAI,
TALUKA–PANVEL, DIST. RAIGAD.
BUILDING CONSISTS : GROUND + 12 FLOORS
CARPET AREA IN SQ.MTRS. : 28.083
BUILT UP AREA IN SQ. MTRS. : 33.699
C.B. AREA IN SQ.MTRS. : 2.205
TERRACE AREA IN SQ.MTRS. : 4.275
SALE PRICE : RS.37,70,000/-
STAMP DUTY : RS.1,88,500/-
REGISTRATION FEE : RS.30,000/-
THIS AGREEMENT is made and entered into at
Navi Mumbai, on this _____ day of __________ 2016.
M/S. SATPANTH HOMES PRIVATE LIMITED, a Private Limited Company registered under the Companies Act, 1956, (PAN NO.AATCS2622L), through its Director SHRI. HIMANSHU SHIVLAL PATEL, having its office at Land Mark, 1203, The Landmark, Plot No.26A, Sector-7, Kharghar, Navi Mumbai – 410 210, hereinafter referred to as 'THE BUILDERS' (which expression shall unless it be repugnant to the context or meaning thereof mean and include its successors and assigns), of the One Part,
1) ADESH GAJANAN JADHAV, 2) SHITAL GAJANAN JADHAV, 1) aged 26 years, 2) aged 50 years, 1) (PAN NO.AWXPJ9318F), 2) (PAN NO.AWTPJ9854C), (MOB NO. 9665711544), both adults, Indian Inhabitants, residing at Surav Tarfe Tale, Kharavali, Raigad, Maharashtra-402 104, hereinafter called 'THE PURCHASERS' (Which expression shall unless it be repugnant to the context or meaning thereof be deemed to mean and include their heirs, successors executors, administrators and assigns) of the Other Part.
1) SHRI. KAUSHIK JAGANNATH JOSHI, 2) SMT. AMITA KAUSHIK JOSHI, both adults, Indian Inhabitants, residing at G-503/504, Lok Angan, Jay Shastri Nagar, Mulund Colony, Mulund (W), Mumbai, hereinafter referred to as 'THE CONFIRMING PARTY' (which expression shall unless it be repugnant to the context or meaning thereof mean and include their successors and assigns), of the third part,
DESCRIPTION OF PROPERTY
FLAT NO. WING FLOOR PLOT NO. SECTOR
505 B FIFTH 55 03
BUILDING : “OM NAMAH SHIVAY KALASH"
NODE : KARANJADE, NAVI MUMBAI,
: TALUKA–PANVEL, DIST. RAIGAD.
UNDER GAOTHAN EXPANSION SCHEME
CARPET AREA IN SQ.MTRS. : 28.083
BUILT UP AREA IN SQ. MTRS. : 33.699
C.B. AREA IN SQ.MTRS. : 2.205
TERRACE AREA IN SQ.MTRS. : 4.275
BUILDING CONSISTS: GROUND + 12 FLOORS (WITH LIFT)
SALE PRICE: Rs.37,70,000/- (Rupees Thirty Seven Lakhs Seventy Thousand Only)
hereinafter referred to as 'THE SAID FLAT'
The City and Industrial Development Corporation of Maharashtra Ltd., a Govt. company within the meaning of the Companies Act, 1956, (hereinafter referred to as 'The Corporation') having its registered Office at Nirmal, 2nd Floor, Nariman Point, Mumbai-400 021, is a New Town Development Authority, under the provisions of sub-sec, (3-a) of Section 113 of Maharashtra Regional & Town Planning Act, 1966, (Maharashtra Act No. - xxxvii of 1966) hereinafter referred to as the said Act.
By virtue of being the Development Authority the Corporation has been empowered under section 113 of the said Act to dispose off any land acquired by it or vested into it in accordance with the proposal approved by the State Govt. under the said Act.
By an Agreement to Lease dated: 26th day of October, 2010 made at CBD, Belapur, Navi Mumbai, and entered into between the CITY AND INDUSTRIAL DEVELOPMENT CORPORATION OF MAHARASHTRA LIMITED, (CIDCO), therein and herein referred to as 'THE LESSOR' and 1) SHRI. SAHDEV CHANGA KOLI, 2) SHRI. GANESH CHANGA KOLI, 3) SHRI. PANDHRINATH SUKIR KOLI, 4) SHRI. PADMAKAR NATHURAM KOLI, 5) SHRI. KRUSHNA NATHURAM KOLI, 6) SHRI. CHANDRAKANT MAHADEO KOLI, (therein referred as the LESSEES & hereinafter referred to as the ORIGINAL ALLOTTEES), the CIDCO leased a Plot of land in lieu of compensation under the 12.5% Expansion Scheme, a Plot of Land being Plot No.55, Sector-03, admeasuring 4749.36 Sq. Mtrs. Karanjade, Navi Mumbai, Taluka–Panvel, Dist. Raigad, (hereinafter referred to as 'THE SAID PLOT')
THE ORIGINAL Allottees paid the Premium in full agreed to be paid to the Corporation.
The said Agreement to Lease dated 26th day of October, 2010 has been registered at the Office of Sub Registrar Assurance Panvel–3, Vide Receipt No.10910, Document No.PVL3-10608-2010, Dated: 26.10.2010
The Physical possession of the said plot has been handed over to the Original Allottees for Development and Construction thereof the Building for Residential cum Commercial purposes. The corporation granted permission or license to the Original Allottees to enter upon the said Plot of land for the purpose of erecting building/s.
The said Original Allottees have sold and assigned all their rights, interest in and upon the said plot in favour of 1) SHRI. KAUSHIK JAGANNATH JOSHI, 2) SMT. AMITA KAUSHIK JOSHI for proper consideration.
By Tripartite Agreement dated: 28th day of October, 2010, between the CIDCO THE FIRST PART, 1) SHRI. SAHDEV CHANGA KOLI, 2) SHRI. GANESH CHANGA KOLI, 3) SHRI. PANDHRINATH SUKIR KOLI, 4) SHRI. PADMAKAR NATHURAM KOLI, 5) SHRI. KRUSHNA NATHURAM KOLI, 6) SHRI. CHANDRAKANT MAHADEO KOLI, the Original Allottees of the SECOND PART & the 1) SHRI. KAUSHIK JAGANNATH JOSHI, 2) SMT. AMITA KAUSHIK JOSHI, the “New Licensees” of THE THIRD PART. The said original Allottees have assigned all their rights and interests in and upon the said Plot to the Party of the THIRD PART on the terms and conditions more particularly set out in the said Agreement to Lease and this Tripartite Agreement.
The said Tripartite Agreement dated 28th day of October, 2010, has been registered at the Office of Sub Registrar Assurance, Panvel-2 vide Receipt No.11391, Document No.Uran-10938-2010, Dated.29.10.2010.
The CIDCO has transferred the said Plot in favour of 1) SHRI. KAUSHIK JAGANNATH JOSHI, 2) SMT. AMITA KAUSHIK JOSHI, vide CIDCO Letter NO.CIDCO/VASAHAT/ANA/12.5% SCHEME/KARANJADE/335/2010/10, Dated: 09.11.2010.
By Development Agreement dated 27.11.2013, the 1) SHRI. KAUSHIK JAGANNATH JOSHI, 2) SMT. AMITA KAUSHIK JOSHI have granted their Development rights in & upon the said Plot in favour of M/S. SATPANTH HOMES PRIVATE LIMITED, through its Directors 1) SHRI. ASHWIN VALJI BHANUSHALI, 2) SHRI. HIMANSHU SHIVLAL PATEL (hereinafter referred to as BUILDERS) on the terms & conditions mentioned therein (i. e. jointly on 56:44 basis).
The Builders have agreed to give the Flats/Shops which are mentioned ‘Annexure B’ in the development Agreement Dated 27.11.2013 and the same has been registered at the Office of Sub Registrar Assurance Panvel-2, vide Receipt No.7882, Document No.PVL2-7726-2013, Dt. 27.11.2013. The List of distribution of Flats/Shops between 1) SHRI. KAUSHIK JAGANNATH JOSHI, 2) SMT. AMITA KAUSHIK JOSHI & the BUILDERS attached herewith as ‘Annexure A’.
By Tripartite Agreement dated: 4th day of December, 2013, between the CIDCO THE FIRST PART, 1) SHRI. KAUSHIK JAGANNATH JOSHI, 2) SMT. AMITA KAUSHIK JOSHI, the “New Licensees” of the SECOND PART & the 1) a) SHRI. KAUSHIK JAGANNATH JOSHI, b) SMT. AMITA KAUSHIK JOSHI, 2) M/S. SATPANTH HOMES PRIVATE LIMITED, through its Directors A) SHRI. ASHWIN VALJI BHANUSHALI, B) SHRI. HIMANSHU SHIVLAL PATEL, the “Subsequent New Licensees” of THE THIRD PART. The said “New Licensees have assigned all their rights and interests in and upon the said Plot to the Party of the THIRD PART on the terms and conditions more particularly set out in the said Agreement to Lease and this Tripartite Agreement.
The said Tripartite Agreement dated 4th day of December, 2013, has been registered at the Office of Sub Registrar Assurance, Panvel-2 vide Receipt No.8156, Document No.PVL2-7998-2013, Dated. 04.12.2013.
The CIDCO has transferred the said Plot in favour of 1) a) SHRI. KAUSHIK JAGANNATH JOSHI, b) SMT. AMITA KAUSHIK JOSHI, 2) M/S. SATPANTH HOMES PRIVATE LIMITED, through its Directors A) SHRI. ASHWIN VALJI BHANUSHALI, B) SHRI. HIMANSHU SHIVLAL PATEL, vide CIDCO Letter NO.CIDCO/VASAHAT/12.5%SCHEME/ KARANJADE/335/2013, Dated: 05.12.2013.
It is mutually agreed amongst the Subsequent New Licensees herein that 1) a) SHRI. KAUSHIK JAGANNATH JOSHI, b) SMT. AMITA KAUSHIK JOSHI, shall both be collectively entitled to 56% undivided share in respect area admeasuring 2659.64 Square meters from and out of the said plot and 2) M/S. SATPANTH HOMES PRIVATE LIMITED, through its Directors A) SHRI. ASHWIN VALJI BHANUSHALI, B) SHRI. HIMANSHU SHIVLAL PATEL shall both be collectively entitled to 44% undivided share in respect of the said Plot i.e. an area admeasuring 2089.71 Square meters from and out of the said plot
The Builders have entrusted the architect works to “DESTINATION” (hereinafter called "The Said Architect”) to develop, design and lay down specifications for construction of the building on the said plot.
The City and Industrial Development Corporation of Maharashtra Limited (CIDCO), by its development permission-cum-Commencement Certificate under Reference No. CIDCO/BP-12574/ATPO/2013/2021, Dt.23.12.2013 granted its permission to develop the said plot and to construct a building for the Residential cum commercial purposes on the said plot subject to the terms and conditions of the Commencement Letter and thereby approved and sanctioned the plans in respect of the said building.
As per ¬the Plans approved by the Corporation the BUILDERS are constructing thereon Building as per the Plans and Specifications approved and the development permission granted by the CIDCO including such addition, modification, revisions, alterations, therein if any, from time to time as may be approved by the CIDCO/ Planning Authorities:
The Building being constructed on the said Plot shall be known as "OM NAMAH SHIVAY KALASH"
The PURCHASERS have requested the BUILDERS to allot the said Flat and also an undivided interest in common areas and facilities in the said building constructed on the Plot No.55, Sector-03, Karanjade, Navi Mumbai, Taluka–Panvel, Dist. Raigad, on ownership basis as agreed to by and between them which is hereinafter referred to as the said FLAT, as per the Floor plan, annexed hereto and marked as ANNEXURE “C”.
THE PURCHASERS agreed to pay price/consideration in respect of the said FLAT in accordance with the provisions of the Maharashtra Ownership Flats (Regulation of Promotion of Construction, Sale Management and Transfer) Act, 1963 and in accordance with the progress of the Construction work of the said new building.
By executing this Agreement the PURCHASERS have accorded their consent as required under the said Act, 1963 whereby the BUILDERS will be entitled to mortgage or create lien on any FLAT, which is not hereby agreed to be sold.
By executing this Agreement the PURCHASERS have accorded their consent as required under Section 7 of the said Act, whereby the BUILDERS will be entitled to make such alterations in the structure in respect of the said FLAT agreed to be Purchased/ acquired by the PURCHASERS and/or the building in the said Society, as may be necessary and expedient in the opinion of their Architect/Engineer.
THE BUILDERS have entered into a standard Agreement with an Architect, registered with the Council of Architects and such Agreement is as per the Agreement prescribed by the Council of Architect and the Structural Engineer till the completion of the building.
While granting the building permission and sanctioning the Plans, the CIDCO authorities have laid down certain terms and conditions to be performed by the BUILDERS and the BUILDERS accordingly incorporated the same terms and conditions in their Agreement with the PURCHASERS and upon due observance and performance of which only completion and/or the occupation certificate in respect of the new building shall be granted by the concerned authorities of CIDCO and the BUILDERS shall complete the Construction of the said new building known as "OM NAMAH SHIVAY KALASH"
The Copies of Certificate of Title issued by the Advocate MR. R. R. JINDAL, B. A. LLB. Advocate of High Court And Notary (Govt. of India) of the BUILDERS, showing the nature of the title of the BUILDERS to the said property on which the building/s are to be constructed and the copies of the plans and specifications of the FLAT agreed to be purchased by the PURCHASERS to be approved by the concerned local authority have been inspected by the PURCHASERS.
The PURCHASERS have become fully satisfied about the title of the BUILDERS to the said property and the PURCHASERS shall not be entitled to further investigate the title of the BUILDERS or to raise any objection with regards to any other matter relating thereto.
The BUILDERS have agreed to sell to the PURCHASERS the said flat at the price and on the terms and conditions hereinafter appearing
NOW THIS AGREEMENT WITNESSETH AND IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS:
1. The BUILDERS shall construct a Building on the said Land in accordance with the plans, designs, specifications approved and sanctioned by the CIDCO and which have been seen and approved by the PURCHASERS with only such variations and modifications as the BUILDERS may consider necessary or as may be required by the CIDCO provided that the BUILDERS shall have to obtain prior permission or consent in writing of the PURCHASERS in respect of such variations or modifications which may be adversely affect the FLAT tenements of the PURCHASERS.
The BUILDERS have informed the PURCHASERS and the PURCHASERS are aware that as per the scheme envisaged by the BUILDERS:
a) The BUILDERS shall be entitled to consume the entire F.S.I. available in respect of the said property and/or additional F.S.I. or T.D.R. of any property available in any manner whatsoever as provided for in this Agreement.
b) The Society or any other organisation or limited company shall be formed and the Conveyance /Lease shall be executed by the BUILDERS in favour of the society or organization or limited company only upon the completion of all the buildings and development of entire property more particularly described in the schedule hereunder written and PURCHASERS shall not insist upon the conveyance/Lease prior to the completion of the entire development of the said property more particularly described in the schedule hereunder written.
Aforesaid conditions are of the essence of this Agreement and only upon the PURCHASERS agreeing to the said conditions, the BUILDERS have agreed to sell the said FLAT to the PURCHASERS.
2. The PURCHASERS hereby agree that they have satisfied themselves about the title of the BUILDERS to the said Property and declare that they shall not be entitled to raise any objection in matter relating to the title or otherwise whatsoever.
3. The PURCHASERS agreed to Purchase and the BUILDERS agree to sell to the PURCHASERS the said Flat along with right to use open terrace, common premises, terrace, passages, lifts and recessed spaces below window cills, balconies, staircase, common passage and any other area used as amenity etc. in building known as “OM NAMAH SHIVAY KALASH" being constructed on the said property, for a total consideration of Rs.37,70,000/- (Rupees Thirty Seven Lakhs Seventy Thousand Only).
4. The PURCHASERS hereby agree to confirm about the area of the said Flat as mentioned hereinabove and hereafter shall not raise any objection with regard to the same. Whatever allotted Stilt Car Parking/Open Space it is a condition that the PURCHASERS shall not enclose the Stilt Car Parking & Open Space shall be kept open to sky, failing which, the PURCHASERS shall be liable for the consequences arising there from, and the PURCHASERS hereby indemnify and keep the BUILDERS indemnified of and against said liability and consequences thereof.
5. Prior to execution of this presents the PURCHASERS have paid a sum of Rs.3,27,000/- (Rupees Three Lakhs Twenty Seven Thousand Only) as Earnest Money Deposit/ Booking amount adjustable towards the sale price of the FLAT agreed to be sold by the BUILDERS to the PURCHASERS. The PURCHASERS shall pay to the BUILDERS the balance sum of Rs.34,43,000/- (Rupees Thirty Four Lakhs Forty Three Thousand Only) as per Annexure ‘B’
SCHEDULE OF PAYMENT
Sr.No. PARTICULARS %
1. On Booking 20%
2. On Plinth 15%
3. On Completion of 1st Slab 10%
4. On Completion of 2nd Slab 4%
5. On Completion of 3rd Slab 4%
6. On Completion of 4th Slab 4%
7. On Completion of 5th Slab 4%
8. On Completion of 6th Slab 4%
9. On Completion of 7th Slab 4%
10. On Completion of 8th Slab 4%
11. On Completion of 9th Slab 3%
12. On Completion of 10th Slab 3%
13. On Completion of 11th Slab 3%
14. On Completion of 12th Slab 3%
15. On Completion of 13th Slab 3%
16. On completion of Brick works 3%
17 On completion of Plastering 3%
18 On completion of Plumbing, Tilling & Painting 3%
19 On Possession 3%
TIME BEING ESSENCE OF CONTRACT. The Agreement will stand automatically cancelled if the PURCHASERS fail to make the payment within time.
6. IN CASE THE PURCHASERS FAIL TO MAKE THE BALANCE PAYMENT, THEN AN INTEREST OF 24% PER ANNUM SHALL BE CHARGED FOR THE REMAINING PAYMENT, AND IN CONTINUATION OF THE DEFAULT, THE AGREEMENT CAN BE CANCELLED AT THE DISCRETION OF THE BUILDERS AND 5% SHALL BE DEDUCTED ON ACCOUNT OF ADMINISTRATIVE CHARGES, AND BALANCE SHALL BE PAID WITHIN 7 DAYS ON CANCELLATION OF THE AGREEMENT.
7. IT IS CLEARLY MENTIONED HEREIN THAT NON-AVAILABILITY OF LOAN FROM THE FINANCIAL INSTITUTION SHALL NOT BE A CONDITION FOR MAKING DEFAULT THE INSTALLMENT OR PAYMENT TOWARDS THE SALE PRICE.
8. The above purchase does not include the following charges:-
a) Stamp Duty, Registration and other charges payable to the concerned authorities.
b) Legal charges for documentation.
c) Transfer fees.
d) Any other taxes, cesses that shall be levied or become leviable by CIDCO or any Government Authorities and also such other charges, escalations imposed by CIDCO or any other Government Authorities.
e) Proportionate share of Property taxes.
f) Service & Vat Tax as per rule and regulation of Government Authorities.
Any Other Taxes, VAT Tax, Goods and Service Tax, LBT Tax, CESS tax on Land and Building that shall be levied or become leviable by CIDCO or any Government authorities and also such other charges, escalations imposed by CIDCO or any other Government Authorities which PURCHASERS have to pay for said Flat.
The above purchase includes the following charges:-
a. Water, MSEDCL & Development Charges.
b. Society formation charges.
9. The BUILDERS hereby agree to observe, perform and comply with all the terms, condition, stipulations and restrictions, if any which may have been imposed by the concerned competent authority at the time of sanction in the said plans and thereafter and shall, before handing over possession of the said FLAT to the PURCHASERS obtain Occupation and/or Completion Certificate.
10. WITHOUT Prejudice to the BUILDERS, other rights under this Agreement and/or in law the PURCHASERS shall be liable and shall at the option of the BUILDERS, pay to the BUILDERS interest at the rate of 24% per annum on all amounts due and payable by the PURCHASERS under this Agreement.
11. The BUILDERS agree that the possession of the said Flat shall be delivered to the PURCHASERS on or before DECEMBER-2017. The BUILDERS shall not incur any liability if they are unable to deliver possession of the Flat by the date aforesaid, if the completion of the building is delayed on account of non-availability of materials or by reason of war, civil commotion or any act of God or if non-delivery of possession is a result of any notice, order rules notification of the Government Court of law and/or other public authority or for non-availability of water and/or electric connection from the concerned authorities or non availability of water and/or electric connection from the concerned authorities or non-payment of the amounts by the PURCHASERS on due dates and as per schedule of payment or for any reasons unforeseen or beyond the control of the BUILDERS.
12. THE PURCHASERS shall take possession of the FLAT within 7 days of the BUILDERS giving written notice to the PURCHASERS intimating that the said FLAT is ready for use and occupation. PROVIDED that if within a period of SIX MONTHS from the date of handing over the FLAT to the PURCHASERS, the PURCHASERS brings to the notice of the BUILDERS any defect in the FLAT is detected or the material used in the construction of the said building, then wherever possible such defects shall be rectified by the BUILDERS at their own cost.
13. UPON POSSESSION of the said Flat being delivered to the Purchasers, the Purchasers shall be entitled to use and occupy the said Flat and shall not claim against the BUILDERS in respect of any item of work in the said Flat which may be utilised not have been carried out or completed. THE Purchasers shall use the FLAT or any part there of or permit the same to be used only for the purpose to which it is allotted. The Purchasers agreed not to change use of the FLAT or COVER the open space without prior consent in writing of the BUILDERS.
14. The BUILDERS have No Objection whatever in mortgaging the said Flat of the PURCHASERS with any Financial Institution including the employer of the PURCHASERS. In case the PURCHASERS are not qualified for the loan facility or fails to pay the said amount on or before their respective due dates, then in that event, this Agreement shall automatically be cancelled without any further Deed or Document in this behalf, subject to what is stated in Para 6 herein above.
15. If the Purchasers commit default in payment on due date of any amount due and payable by the Purchasers to the BUILDERS under this Agreement (including their proportionate share of taxes levied by CIDCO and other outgoings) and committing breach of any of the terms and conditions herein contained, the Builders shall be entitled to their own option to terminate this Agreement.
Provided always that the power of termination herein before contained shall not be exercised by the BUILDERS unless and until the BUILDERS shall have given to the PURCHASERS TEN days prior notice in writing of their intention to terminate this agreement and of the specific breach or breaches of terms and conditions in respect of which it is intended to terminate the agreement and/or default shall have been made by the PURCHASERS in remedying such breach or breaches, within the period of ten days after giving of such notice.
Provided further that upon termination of this agreement as aforesaid, the BUILDERS shall refund to the PURCHASERS the installments of sale price of the FLAT etc. which may till then have been paid by the PURCHASERS to the BUILDERS after deducting there from the Administrative expenses, Earnest Money deposit and out of pocket expenses and service charges etc. as may be determined by the BUILDERS. The BUILDERS shall not be liable to pay to PURCHASERS any interest on the amount so refunded and upon termination of this Agreement, pending refund of the amount as aforesaid, the BUILDERS shall be at liberty to dispose off and sell the said Flat to such person and at such price as the BUILDERS may in their absolute discretion think fit and only after the sale of the said FLAT and realisation of the amount from the sale of the said FLAT, the amount shall be refunded to PURCHASERS, after making deduction as aforesaid.
16. It is further understood between the parties that the PURCHASERS would not have any right whatsoever as far as the remaining Flats/Shops are concerned, and the same would be disposed off by the BUILDERS in a manner as the BUILDERS would deem fit.
17. If, for any reason outside the control of the BUILDERS and/or the Society the whole or part of the project is abandoned, no claim will be preferred by either party to the contract.
18. The BUILDERS shall not be liable for any loss, damage, injury or delay due to Maharashtra State Electricity Board causing delay in sanctioning and supplying electricity or due to CIDCO Ltd., or the Local Authority causing delay in giving/supplying permanent water connection or such other service connections necessary for using/occupying the said FLAT.
19. The BUILDERS shall in respect of any amount unpaid by the PURCHASERS under the terms and conditions of this Agreement have a first lien and charge on the said Flat agreed to be acquired by the PURCHASERS.
20. The BUILDERS hereby declare that the entire Floor Space Index available in respect of the said property has been consumed in this project only and that no part of the Floor Space Index has been utilized by the BUILDERS elsewhere for any other purpose whatsoever. In case the said Floor Space Index has been utilised by the BUILDERS elsewhere, then the BUILDERS shall furnish to the PURCHASERS all the detailed particulars in respect of such utilisation of said Floor Space Index by them. In case while developing the said property the BUILDERS have utilised any floor space index of any other land or property by way of floating floor, space index, then the particulars of such floor space index shall be disclosed by the BUILDERS to the PURCHASERS. The residual F.A.R (F.S.I.) in the plot or the layout not consumed will be available to the BUILDERS alone till the said property is conveyed to society or Incorporate Body of the PURCHASERS or till the completion of the project which ever is later. Whereas only after the said conveyance is executed or the project is completed the residual F.A.R. (F.S.I.) shall be available to the PURCHASERS.
21. The PURCHASERS along with other PURCHASERS in the said building shall join in forming and registering Apartment Owners/ Co-Operative Housing Society/ Private Limited Company as the case may be and for this purpose also from time to time sign and execute the application for registration and/or membership and/or other papers and registration of the Company/Society as the case may be and for becoming a member including the bye-laws, Rules and Regulations of the Proposed Association and duly fill in sign and return to the BUILDERS so as to enable the BUILDERS to register the Organisation of the FLAT PURCHASERS under the said Act and Rules made there under.
22. After the building is complete and fit for occupation and after the Society (ies) or Limited Company (ies) incorporated Body(ies) or condominium of Apartments is registered and only after all the said Flat in the said building have been sold and disposed off by the BUILDERS and after the BUILDERS have received all dues payable to them under the terms of the Agreement with various Flats/Shops holders etc. and after the completion of all buildings as developments of the entire property the BUILDERS will execute a Deed of Lease and/or any other documents in favour of a Co-operative society (ies) Limited company(ies) Incorporated Body or condominium of Apartments by MR. R. R. JINDAL, B.A., LLB, Advocate High Court And Notary (Govt. of India) having his office at B-3/6/0:2, Sector-2, Vashi, Navi Mumbai, shall prepare the Conveyance and all other documents to be executed in connection with the Co-operative Society or Limited Company or Incorporated body and all the costs, charges and expenses including stamp duty, registration fees and other expenses in connection with preparation of the execution of the Lease Deed and other documents and formation or registration incorporation of the Co-Operative Society or Limited Company or Incorporated Body or condominium of Apartments or other corporate body shall be borne and paid by the PURCHASERS.
23. The BUILDERS shall get a Deed of Lease/ conveyance to be executed by the said Corporation in favour of the Company/Association/Society as the case may be in respect of the said property and the building erected thereon within the prescribed time from the formation and registration of the Association/ Society or from the date on which the BUILDERS have sold and received payment for all the Flats/Shops and sold handed over possession of the Flats/Shops to the respective PURCHASERS whichever is later PROVIDED THAT the BUILDERS have been paid and have received full consideration amount payable by all the Flats/Shops Holders.
24. All notices to be served on the PURCHASERS as contemplated by this Agreement shall be deemed to have been duly served if sent to the PURCHASERS by Registered Post or Under Certificate of posting at their address specified below:
1) ADESH GAJANAN JADHAV
2) SHITAL GAJANAN JADHAV
ADD. Surav Tarfe Tale, Kharavali,
Raigad, Maharashtra-402 104.
25. The BUILDERS shall have the right to make additions, alterations, raise stories or put additional structures at any time as may be permitted by the Corporation and other Competent Authorities, such additional alterations, structures and stories and remaining unused F.S.I. will be the sole property of the BUILDERS who will be entitled to use and dispose it off in any way they choose and the PURCHASERS hereby consent to the same.
26. Provided that the BUILDERS do not, in any way affect or prejudice the right hereby granted in favour of the PURCHASERS in respect of the said Flat agreed to be Purchased by the PURCHASERS the BUILDERS shall be at liberty to sell, mortgage or otherwise deal with or dispose of their right, title and interest in the said land, hereditaments and the building construction/s and hereafter to be constructed thereon.
27. All costs, charges and expenses in connection with formation registration of the said Association/society as the case may be shall be borne and paid by the members of the said Association/Society and all costs, charges and expenses including Advocate's and Solicitor's fee for preparing and engrossing this agreement and the Lease Deed and Conveyance Deed in respect of this property and stamp duty and registration charges in respect of the said Lease Deed and Conveyance Deed thereto, shall be borne and paid by the members of the said Association/ Society/Private Ltd. Company as the case may be.
28. Commencing a week after the notice in writing is given by the BUILDERS to the PURCHASERS that the said Flat is ready for use and occupation, the PURCHASERS shall pay on or before the 5th day of every month to the BUILDERS until the said property together with the building constructed thereon is transferred to the proposed Society/Association as provided herein, a provisional monthly contribution as decided by the BUILDERS and shall be paid for one year in advance towards the proportionate share that may be ascertained by the BUILDERS (a) Insurance premium for insuring the said building against fire, riot and civil commotion etc, (b) The municipal rates charges, and taxes including collector's charges and all other outgoing that may from time to time be levied on or incurred in respect of the said Property (c) the charges for the maintenance and Management of the said building including wages and salaries of watchmen, sweeper bill collector and accountant (d) Electricity charges of common lights, meter pump etc. The said payment shall be on the ad-hoc basis and the PURCHASERS shall be liable to pay actual proportionate taxes and outgoing. On such lease Deed/Conveyance Deed being executed the aforesaid deposits shall be transferred by the BUILDERS to the proposed Association/Society as the case may be. However the BUILDERS shall be entitled to deduct there from and appropriated to themselves any amount that may be due and payable by the PURCHASERS to the BUILDERS. The PURCHASERS undertakes to pay such proportionate share of outgoings regularly on the 5th day of each and every month in advance.
29. After the said society/limited company/association the case may be is formed/registered incorporated, the
PURCHASERS will pay their share of the aforesaid outgoings directly to the society/limited company/ association.
30. The PURCHASERS themselves with the intention to bring all persons into whomsoever hands the said Flat may come (in accordance with terms of presents) do hereby covenant with the BUILDERS as follows:
a) To maintain the said Flat at PURCHASERS’ own cost in good tenantable repair and condition from the date of taking possession of the said Flat is situated, staircase or any passages which may be against the rules, regulations or Bye-Laws of concerned local or any other authority or shall not make any alteration & change the outer elevation or make addition in or to the building in which the said Flat is situated and in the said Flat itself any part thereof.
b) Not to store in the said Flat any goods which are of hazardous, combustible or dangerous nature or are so heavy as to damage the construction or structure of the building in which said Flat is situated or storing of which goods is objected to by the concerned local or other authority and shall not carry or cause to be carried heavy packages whose upper floors which may damage or likely to damage the staircase, common passages or any other structures of the building in which the said Flat is situated and in case any damage is caused to the building in which the said Flat is situated or the said Flat on account of negligence or default of the PURCHASERS in this behalf the PURCHASERS shall be liable for the consequences of the breach.
c) To carry out at their own cost all internal repairs to the said Flat and maintain the said Flat in the same conditions state and order in which it was delivered by the BUILDERS to the PURCHASERS and shall not do or suffering to be done anything in or to the building in which the said Flat is situated, The PURCHASERS should followed the rules and regulations and bye-laws of the concerned local authority or other public authority. And in the event of the PURCHASERS committing any act in contravention of the above provision, the PURCHASERS shall be responsible and liable for the consequences, thereof to the concerned local authority and/or other public authority.
d) Not to demolish or cause to be demolished the said Flat or any part thereof, now at any time make or cause to be made any addition or alteration of whatever nature in or to the said Flat or any part thereof, nor any alteration in the elevation and outside colour scheme of the building in which the said Flat is situated and shall keep the portion, sewers, drains, pipes, in the said Flat and appurtenances thereto in good tenantable repair and condition, and in particular, so as to support shelter and protect the other parts of the building in which the said Flat is situated and shall not chisel or in any other manner damage to columns, beams, walls, slabs or RCC Pardi or other structural members in the said Flat without the prior written permission of the BUILDERS and/or the society or the Limited Company or other corporate body.
e) Not to do or permit to be done any Act or thing which may render void or voidable any insurance of the said land and the building in which the said Flat is situated or any thereof or whereby any increase premium shall become payable in respect of the insurance.
f) Not to throw dirt, rubbish, garbage or other refuse or permit the same to the thrown from the said Flat in the compound or any portion of the said land and the building in which the said Flat is situated.
g) Pay to the BUILDERS within 7 days of demand by the BUILDERS, their share of security deposit demanded by concerned local authority or Government for giving water, electricity or any other service connection to the building in which the said Flat is situated.
h) To bear and pay increase in local taxes, water charges, insurance and such other levies, if any which are imposed by the concerned local authority and/or Government and/or other public authority, on account of change of user of the said Flat by the PURCHASERS viz. use for any purpose/other than for residential purpose. The PURCHASERS shall not let, sub-let transfer, assign or part with PURCHASERS interests or benefit factor of this Agreement or part with the possession of the said Flat until all the dues payable by the PURCHASERS to the BUILDERS under this Agreement are duly paid up and only if the PURCHASERS had not been guilty of breach of or non-observance of any of the terms and conditions of this Agreement and until the PURCHASERS have obtained prior consent in writing of the BUILDERS.
i) The PURCHASERS shall observe and perform all the rules regulations which the Society or the Limited Company may adopt at its inception and the additions, alterations or amendment thereof that may be made from time to time for protection and maintenance of the said building and the said Flat therein and for the time being the concerned local authority and of Government and other public bodies. The PURCHASERS shall also observe and perform all the stipulations and conditions laid down by the Society Limited Company regarding the occupation and use of the said Flat in the building and shall pay and contribute regularly and punctually towards the taxes expenses or other outgoings in accordance with the terms of this Agreement.
j) Till the Lease of building in which said Flat is situated is executed the PURCHASERS shall permit the BUILDERS and their surveyors and agents, with or without workmen and other at all reasonable times, to enter into and upon the said Flat and buildings or any part thereof to view and examine the state and condition thereof.
31. Nothing contained in this Agreement is intended to be nor shall be construed as a grant, demise, or assignment in law of the said Flat or of the said plot and building or any part thereof, the PURCHASERS shall have no claim save and except in respect of the said Flat here by agreed to be sold to them and all open spaces, lobbies, staircases, terraces, recreation spaces etc. will remain the property of the BUILDERS until the said land and building is transferred to the Society/Limited Company as herein mentioned.
32. Any delay tolerated or indulgence shown by the BUILDERS in enforcing the terms of this Agreement of any forbearance of giving of time to the PURCHASERS by the BUILDERS shall not be construed as a waiver on the part of the BUILDERS of any breach or non-compliance of terms and conditions of this Agreement by the PURCHASERS nor shall the same in any manner prejudice the rights of the BUILDERS.
33. It is agreed that this Agreement shall be registered with Sub-Registrar of Assurances as required under Maharashtra Ownership Flats Act. The PURCHASERS shall lodge this Agreement for registration with the Sub-Registrar of Assurances and inform the BUILDERS the serial number of registration under which it has been lodged to enable the BUILDERS to appear before the sub-Registrar and admit the execution thereof.
34. If there is any increase in F.S.I. or any other benefits then such increased FSI or such benefits shall go to the BUILDERS and the PURCHASERS or the members of the Society shall not raise any objections to the BUILDERS utilising such increased F.S.I. and/or using/appropriating such benefits.
35. The members shall form and constitute a Co. Operative Housing Society on their own cost, however the developer shall co-operate in getting society formed by obtaining the signature of all the members.
36. The PURCHASERS hereby agree and bind themselves to pay the stamp duty, Registration Charges, Advocate's fees and other expenses pertaining to this Agreement and also bear and pay their proportionate contributions the Stamp Duty, Registration charges, and other expenses that may have to be paid in respect of the Lease Deed to be executed by CIDCO Ltd., in favour of the said Society.
37. THE PURCHASERS along with the other PURCHASERS in the building shall join in forming and registering a Society or a limited Company to be known by such name as the PURCHASERS may decide for this purpose and also from time to time to sign and execute the application for registration and/or membership and other papers and documents necessary for the formation of the Society or Limited Company and for becoming a member including the bye-laws of the proposed Society and duly fill in, sign and return to the BUILDERS within fifteen days of the same being forwarded by the BUILDERS to PURCHASERS, so as to enable the BUILDERS to register the Organisation of the PURCHASERS under Section-10 of the Act within the time limit prescribed by Rule 8 of the Maharashtra Ownership Flats Act 1964. No objection shall be taken by the PURCHASERS if any changes or modifications are made in the draft/bye-laws or the Memorandum and/or Articles of the Association as may be required by the Registrar of Companies, as the case may be, or by any other Competent Authority.
38. If the PURCHASERS neglect, omit or fail in any manner whatsoever to pay to the BUILDERS any of the amount due and payable by the PURCHASERS under the terms and conditions of this agreement (whether before or after the delivery of the possession within the time herein specified or if the PURCHASERS shall in any other way fails to perform or observe any of the covenants and stipulations of their part thereto contained or referred to, the BUILDERS shall be entitled or re-enter and resume possession of the said Flat/parking space/stilt and of everything whatsoever therein contained and this agreement shall cease and stand terminated and the BUILDERS shall refund to the PURCHASERS the installments of sale price of the FLAT etc. which may till then have been paid by the PURCHASERS to the BUILDERS after forfeiting the earnest money and after deducting there from the administrative expenses, out of pocket expenses and service charges etc as may be determined by the BUILDERS. The BUILDERS shall not be liable to pay to PURCHASERS and interest on the amount so refunded and upon termination of this agreement and promising to refund the aforesaid amount by the BUILDERS, the BUILDERS shall be at liberty to dispose of and sell the Flat/parking space/stilt etc. to such person and at such person and at such price as the BUILDERS may be in their absolute discretion think fit. The said amount shall be refunded to the PURCHASERS only after the said Flat/parking space/stilt etc. is sold/ disposed off. And the PURCHASERS shall have no claim for refund or payment of the said earnest money and / or the said other amounts and the PURCHASERS hereby agree to forfeit all their rights, title and interest in the said Flat all amount already paid and in such event the PURCHASERS shall be liable to be immediately ejected as tress-passer but the right given by this clause to the BUILDERS shall be without prejudice to the other rights, remedies and claim, whatsoever at law or under this Agreement of the BUILDERS against the PURCHASERS.
39. It is expressly agreed by and between the parties hereto that notwithstanding anything herein contained, if CIDCO charges any premium and/or any other amount for the purpose of execution of the deed of Lease by CIDCO Ltd. in respect of the said Plot and the building to be constructed thereon in favour of the society to be formed then such premium or other amount shall be borne and paid by the PURCHASERS. In order to enable the Society to pay any premium and/or any other amount that may be demanded by CIDCO Ltd., as aforesaid, the PURCHASERS hereby agree and bind themselves to pay to the said Society, their share in such premium and/or amount payable to the said CIDCO in proportion to which the area of the said Flat hereby agreed to be acquired by the PURCHASERS in the said building.
40. UNLESS it is otherwise agreed to by and between the parties hereto, the BUILDERS shall within Six Months of the Registration of the Society or Limited Company as aforesaid, cause to be transferred to the Society or Limited Company all the right, title and interest of the BUILDERS by an assignment of the lease of the said land and the said building in favour of such Society or Limited Company as the case may be and such conveyance or assignment of lease shall be in keeping with the terms and provisions of this Agreement.
41. In the event of the society (ies), Limited Company (ies), Incorporated Body (ies) or Condominium of Apartments being formed and registered before the sale and disposal by the BUILDERS of all the Flat etc. in the said building the powers and authority of the society so formed or the PURCHASERS and other PURCHASERS in the said building shall be subject to the overall control of the BUILDERS in respect of any of matters covering the said building the construction and completion thereof and all amenities, appertaining to the same and in particularly the BUILDERS shall have absolute authority and control as regards and unsold said Flat of which the Agreement are cancelled at any stage for some reason or other and the BUILDERS have the absolute authority regarding the disposal thereof.
42. In the event of the Flats remaining unsold with the BUILDERS in building/s to be constructed on the said property, the powers and authority of such unsold FLAT in the said building shall be subject to the overall control of the BUILDERS in respect of any of matters covering the said building the construction and completion thereof and all amenities, appertaining to the same and in particularly the BUILDERS shall have absolute authority and control as regards and unsold said Flat of which the Agreement are cancelled at any stage for some reason or other and the BUILDERS have the absolute authority regarding the disposal thereof.
43. This Agreement shall always be subject to the provisions contained in the Maharashtra Ownership Flat Act, 1963 and the Maharashtra Flats Rules 1964 and New Bombay Disposal of Lands Regulations 1975 as amended upto date or any other provisions of law applicable thereto.
44. THIS AGREEMENT also shall always be subject to the terms and conditions of the said Agreement to Lease executed in favour of the said BUILDERS by CIDCO Ltd. as also the Agreement entered into between the BUILDERS herein as mentioned above and the Rules and Regulations, if any, made by CIDCO Ltd., and or the Government of Maharashtra, and/or other Authority Governing the said transaction.
45. The PURCHASERS declare that they have if any intention to sell transfer the said Flat within a period of One Year from the date of execution of this Agreement for sale as the ‘Investor PURCHASERS’ and to avail the benefit of the provision of remission of Stamp Duty in terms of the Article 5 of schedule 1, of Bombay stamp Act 1958. The requisite stamp duty on this Agreement for Sale is being paid by the PURCHASERS with a right of claim remission exemption of Stamp Duty at the time of sale transfer of the said Flat within a period of One Year or within such period as may be prescribed from time to time in this regard.
46. All expenses incurred for the preparation of this agreement, the stamp duty and registration charges payable thereon shall be paid exclusively by the PURCHASERS. It is for the PURCHASERS to lodge this agreement for registration before the Sub Registrar of Assurance at Panvel within appropriate period by giving prior intimation thereof to the BUILDERS so that the BUILDERS or any authorized person can remain present and sign the same before the Sub Registrar.
All that piece or parcel of land known as Plot No.55, Sector-03, in Village/Site Karanjade of 12.5% (Erstwhile Gaothan Expansion Scheme) Scheme, Tal. Panvel, District: Raigad, containing measurement 4749.36 Sq.Mtrs. or thereabouts and bounded as follows that is to say:
On or towards the North By : Nalla
On or towards the South By : 20.00 metrs wide Road
On or towards the East By : 25 mtrs. Nalla
On or towards the West By : Plot No.39
IN WITNESS WHEREOF the Parties hereto have hereunto set and subscribed their respective hands and seal the day and the year first hereinabove written:
SIGNED AND DELIVERED by the )
withinnamed BUILDERS )
M/S. SATPANTH HOMES PRIVATE LIMITED
through its Director
SHRI. HIMANSHU SHIVLAL PATEL
In the presence of )
SIGNED AND DELIVERED by the )
withinnamed ‘PURCHASERS’ )
1) ADESH GAJANAN JADHAV
2) SHITAL GAJANAN JADHAV
in the presence of : )
SIGNED AND DELIVERED by the )
withinnamed CONFIRMING PARTY )
1) SHRI. KAUSHIK JAGANNATH JOSHI
2) SMT. AMITA KAUSHIK JOSHI
In the presence of )
R E C E I P T
Received of and From the withinnamed PURCHASERS
1) ADESH GAJANAN JADHAV, 2) SHITAL GAJANAN JADHAV, a sum of Rs.3,27,000/- (Rupees Three Lakhs Twenty Seven Thousand Only) towards the Part Payment of the above said Flat paid by them to us
BANK NAME DATE CHEQ.NO. AMOUNT
State Bank of India 29.10.2016 329830 Rs.1,00,000/-
State Bank of India 18.11.2016 329833 Rs.2,27,000/-
WE SAY RECEIVED
M/S. SATPANTH HOMES PRIVATE LIMITED,
through its Director
SHRI. HIMANSHU SHIVLAL PATEL (BUILDERS)
SHOPS IN THE SHARE OF 1) SHRI. KAUSHIK JAGANNATH JOSHI, 2) SMT. AMITA KAUSHIK JOSHI
PLOT NO.55, SECTOR-03, KARANJADE, NAVI MUMBAI.
A-WING - FLATS IN THE SHARE OF 1) SHRI. KAUSHIK JAGANNATH JOSHI, 2) SMT. AMITA KAUSHIK JOSHI
PLOT NO.55, SECTOR-03, KARANJADE, NAVI MUMBAI.
SECOND FLOOR SEVENTH FLOOR
THIRD FLOOR EIGHTH FLOOR
FOURTH FLOOR NINTH FLOOR
FIFTH FLOOR TENTH FLOOR
SIXTH FLOOR ELEVENTH FLOOR
B-WING - FLATS IN THE SHARE OF M/S. SATPANTH HOMES PRIVATE LIMITED, through its Directors A) SHRI. ASHWIN VALJI BHANUSHALI, B) SHRI. HIMANSHU SHIVLAL PATEL
PLOT NO.55, SECTOR-03, KARANJADE, NAVI MUMBAI.
SECOND FLOOR SEVENTH FLOOR
THIRD FLOOR EIGHTH FLOOR
FOURTH FLOOR NINTH FLOOR
FIFTH FLOOR TENTH FLOOR
SIXTH FLOOR ELEVENTH FLOOR