Agreement to Sell an Under-Construction Flat

AGREEMENT TO SELL AN UNDER-CONSTRUCTION FLAT

1. 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 subject matter is the proposed purchase of unit Tower B, Flat 1204 in Emerald Heights, located at House 52, Sector 8, Chandigarh.

Seller capacity: Sole owner. Possession when signed: Seller in possession.

1. 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.

1. 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.

1. PROJECT AND UNIT

Project: Emerald Heights by ABC Developers Pvt Ltd, RERA registration PBRERA-SAS80-PR0123. Unit: Tower B, Flat 1204. Area: Carpet area 1,245 sq ft; balcony 110 sq ft.. Booking status: Fresh booking through promoter.

1. RERA ADVANCE AND PAYMENT FRAMEWORK

Total unit cost: ₹1,80,00,000 (Rupees One Crore Eighty Lakh only). Amount paid before agreement: ₹10,00,000 (Rupees Ten Lakh only). Section 13 position: Advance before this agreement does not exceed ten per cent of the cost.

For a promoter sale in a project to which the Real Estate (Regulation and Development) Act, 2016 applies, section 13 bars the promoter from accepting more than ten per cent of the cost as advance/application fee without first entering into a written agreement for sale and registering it as required by that provision.

Promoter payment plan: 10% on agreement, 20% on foundation, 20% on structure, balance by possession milestones..

1. PLANS, SPECIFICATIONS AND PARKING

Specification basis: Sanctioned plans and specifications annexed to agreement.

Parking: Specific parking entitlement/allotment described below. Details: One covered car parking use entitlement, slot to be allotted per project rules.

1. POSSESSION, DELAY AND ASSIGNMENT

Promised possession date: 3 April 2026. Delay remedies: Buyer rights follow RERA and the agreement; no clause waives non-waivable statutory rights. Assignment before possession: Assignment subject to promoter consent and lawful charges where required. Project conditions: Transfer application permitted after 30% payment subject to promoter process.

Statutory rights under RERA that cannot lawfully be waived are not displaced by a contrary private clause.

1. COMPLETION AND CONVEYANCE

The parties will complete the sale and execute/register the required conveyance by 4 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.