AGREEMENT TO SELL A PLOT
- PARTIES AND TRANSACTION
This agreement is made on 1 April 2026 between Harpreet Singh, of House 118, Sector 35-A, Chandigarh, and Aarav Sharma, of House 211, Sector 21, Panchkula.
The property is House 52, Sector 8, Chandigarh, identified as Plot 212.
Seller capacity: Sole owner. Possession when signed: Seller in possession.
- PRICE AND PAYMENT
The total sale consideration is ₹2,50,00,000 (Rupees Two Crore Fifty Lakh only). Earnest/token money is ₹25,00,000 (Rupees Twenty Five Lakh only), leaving balance consideration of ₹2,25,00,000 (Rupees Two Crore Twenty Five Lakh only).
Payment mode: Bank transfer. Payment schedule: ₹25,00,000 on signing; balance on registration after title conditions are satisfied..
Tax withholding: Buyer will deduct and deposit tax where the applicable income-tax provision requires it.
- TITLE, DOCUMENTS AND DILIGENCE
Seller relies on the following title/allotment/conveyance record: Sale Deed no. 1842 dated 12 June 2018, Chandigarh.
Diligence position: Buyer will complete title diligence before the stated diligence deadline. Objections should be raised by 2 April 2026.
Encumbrance covenant: Seller will convey free from undisclosed mortgages, charges, liens and third-party rights.
Dues: Seller clears dues attributable to the period before completion.
- PLOT IDENTIFICATION
Plot number: Plot 212. Area/measurement: 500 sq yd, approximately 50 ft x 90 ft.. Title type: Freehold plot.
Boundary verification: Buyer will verify site boundaries before completion. Boundaries: North: Plot 211; South: Plot 213; East: road; West: green belt.
Construction status: Vacant plot.
- DEVELOPMENT-AUTHORITY CONDITIONS
Transfer permission: Transfer permission/NOC is not required under the stated title conditions.
The seller must disclose allotment, lease, resumption, building-time, extension or transfer conditions in the title chain that can affect the buyer after completion.
- AREA AND DEMARCATION
A material area or boundary discrepancy discovered before completion must be recorded and resolved in writing; this agreement does not treat portal/marketing area as conclusive against the title/site record.
- POSSESSION
Possession is to be delivered only in accordance with the completion arrangement unless a separate possession clause is expressly added and properly stamped/registered.
- COMPLETION AND CONVEYANCE
The parties will complete the sale and execute/register the required conveyance by 3 April 2026, subject to the conditions stated in this agreement.
Section 54 of the Transfer of Property Act, 1882 treats a contract for sale as an agreement that a sale will take place on settled terms; the contract does not by itself create an interest in or charge on the property. The final transfer of ownership must occur through the legally required conveyance/registered instrument.
- DEFAULT AND REMEDIES
Buyer default: Seller may terminate and claim reasonable compensation subject to law and the stated earnest-money clause. Seller default: Buyer may seek refund with agreed lawful compensation or pursue available contractual remedies.