SELL & PURCHASE AGREEMENT (BAYANA)

This Bayana agreement is made and executed at Delhi on 01.10.2011 between Mr. …………. S/o Sh. …………….. R/o…………………………., New Delhi – 110018 (here in after called the first party/seller.)

AND

Mr. …………………..S/o Sh…………………. R/o ……………………………..  (here in after called the Second party/Purchaser.)

Whereas the First party is the absolute sale owner of Bearing possession of Build up Property No. ABC, Gali No. 42, Ground Floor, …………………………New Delhi – 110059 (here in after called the property.)

And whereas the first party for their bonafide needs and requirements has agreed to sell all rights of the above said property to the second party and the second party has agreed to purchase the same for a sum of Rupees ……………../- (Rupees …………Only) out of which the second party has given a sum of Rs. …………./- ( Rupees ……… only) as a bayana money on dated 01.01.2012 to the First party and balance payment of Rs……………/- ( Rupees ……………. Only) will be paid by the second party to the first party on or before on Date 31.03.2012.

·         That the first party will hand over the said property in good and proper condition and also handover /bind to provide all documents/registry related to the said property with proper chain in complete to the second party.

·         That all the prior dues and demands and taxes arrears ( i.e. electricity, water or sewer other dues, liabilities, House Tax, demands of penalty) shall be paid and borne by the first party up to the date of execution of final documents regarding the said property and thereafter shall be paid and borne by the second party.

·         That the said property is free from mortgage, Encumbrances or any previous sale or any link or any other burden and any kind of liability. Assured by the First party.

·         That the first party will deliver all documents to the Second party at the time of execution of sale document and assure/bind to the second party and if any document found missing the first party will have to arrange the same at his own cost and will hand over to the second party or the second party will deduct the payment of the first party as decided by the advisor of the second party.

·         That in the case the first party backs out from the said transaction then the first party will pay the double amount of the Bayana Money to the Second Party and in case second party backs out of the purchase of said property then the bayana amount will not return to the second party.

·         That the Chimney & all pending works will be completed by the first party in above said property before handing over the proerty to the second party.

·         That Mr. Sunil Sondhi to provide the affidavit affirming that he has retained all the original previous chain of the title deeds/documents and will not misuse them and will distribute all the original documents proportionately among the purchasers of the floors once all the floors get sold.

·         That Mr………….. will provide the photocopy of sale deed dated 07.02.2011 in favor of Mr. ……………. executed by Mr………………. with endorsement about the sale of said property to Mr. ………….. as made on Original Sale deed.

·         That both the parties are bound to follow the terms and conditions of this agreement and the time are the essence.

In witness whereof both the parties have set their hands to this agreement at delhi, on the date mentioned above, in the presence of the under mentioned.

Witness : -

1.                                                                                                                            First Party

2.                                                                                                                            Second Party