AGREEMENT TO SELL WITH INSTALMENT TERMS
Signed at Chandigarh on 1 April 2026.
BETWEEN
Harpreet Singh, Son of Sh. Gurdev Singh, of House 12, Sector 35-A, Chandigarh, PAN ABCDE1234F, together with X (the "Seller")
AND
Aarav Sharma, Son of Sh. Gurdev Singh, of House 12, Sector 35-A, Chandigarh, PAN ABCDE1234F, together with X (the "Buyer")
Where more than one person is named as Seller or as Buyer, each of them is bound by this agreement jointly and separately, and each must sign it.
- 1. THE PROPERTY
The Seller agrees to sell and the Buyer agrees to buy the property at House 1234, Sector 20-C, Chandigarh, described as 250 square yards, double-storey house; north: road; south: House 1236 (the "Property"). The Seller owns the Property through Registered sale deed dated 12 June 2015. Loan or mortgage: No loan or mortgage is outstanding on the property.
- 2. THE PRICE AND THE INSTALMENTS
The total price is ₹95,00,000 (Rupees Ninety Five Lakh only). The Buyer has paid ₹20,00,000 (Rupees Twenty Lakh only) today, by Bank transfer, UTR 123456789012, 15 October 2026, and the Seller acknowledges receiving it.
The balance will be paid in 15 instalments of ₹5,00,000 (Rupees Five Lakh only) each, every month, the first on 2 April 2026 and the last on 3 April 2026. Every payment will be made by bank transfer, cheque or demand draft, and not in cash, and the Seller will give a written receipt for each.
An instalment paid after its due date carries interest at 1% per month for the days of delay.
Where the law requires the Buyer to deduct tax at source from a payment, the Buyer will deduct it, deposit it within the time allowed and give the Seller the certificate. The tax so deposited counts as payment of that much of the price.
- 3. POSSESSION BEFORE THE SALE DEED
On 4 April 2026 the Seller will hand over vacant possession of the Property to the Buyer. The Buyer holds it as a buyer under this agreement and not as owner. The Seller remains the owner and keeps the original title papers until the sale deed is registered.
From that date the Buyer will pay the property tax, electricity, water, sewerage and maintenance charges, will keep the Property in good repair, and will not sell, sub-let, mortgage or part with it, or make structural changes to it, without the Seller's written consent. The Seller will not sell, mortgage or create any right over the Property in favour of anyone else while this agreement is in force.
- 4. THE SALE DEED
When the last instalment has been paid in full, the Seller will, within 30 days, sign a sale deed in favour of the Buyer and present it with the Buyer for registration, and will hand over the original title papers. Stamp duty and registration charges on this agreement and on the sale deed: The Buyer pays the stamp duty and registration charges.