Kaagazaat

Term Sheet for a Property Purchase

At a glance

Price: ₹99 · GST included
Stamp duty: No conveyance duty for this non-binding record.
Registration: Not compulsory — a contract for sale creates no property interest (TP Act 1882 s.54).
Witnesses: Not legally required for a preliminary record.

₹99

GST included

Launch period: downloads are free for now. The prices shown apply once payments open.

Guided questions, full draft on screen, download in Word.

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Also called

property purchase term sheet
heads of terms for property sale

Whether you can fill this in here

You can fill this in here

You can fill this one in on this site, and read the whole draft on screen before you decide anything about it. It is a carefully drafted template; it is not advice about your own facts.

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Why you need it

When you need it

For when price/major terms are broadly agreed but the parties aren't ready to sign the agreement to sell. A drafting brief: consideration, token, staged payments, title review, finance, dues, brokerage, target dates. State which clauses (if any) bind (TP Act 1882 s.54: a contract for sale creates no interest in the property). Reduces re-negotiation.

See stamp duty, registration and witnesses

What follows is written for Punjab and Chandigarh. It states the position there rather than describing how it varies, so the amounts below are the ones that apply — worth confirming at the sub-registrar’s office, because rates change. If the property is anywhere else in India, none of this is yours.

Stamp duty

No conveyance duty for this non-binding record. If reworded as a binding sale, transfer, charge or release, duty follows its true character.

Registration

Not compulsory — a contract for sale creates no property interest (TP Act 1882 s.54). Registrable only at the eventual agreement/conveyance stage.

Notarisation

Not required; doesn't replace stamping/registration later.

Witnesses

Not legally required for a preliminary record. Two witnesses are prudent only for a binding term sheet.

Talk to a lawyer about this document₹3,539 including GST (₹2,999 + 18% GST), per documentRequest Stamp Paper

Sample preview — placeholder answers, not your data

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TERM SHEET FOR A PROPERTY PURCHASE

1. TRANSACTION

Buyer: Aarav Sharma. Seller: Harpreet Singh. Property: Plot 218, Eco City 1, New Chandigarh, Punjab (Apartment): Residential plot measuring approximately 300 sq yd in Eco City 1..

Term sheet date: 1 April 2026. Valid until: 5 April 2026.

2. PRICE AND PAYMENT

Total proposed sale consideration: ₹2,25,00,000 (Rupees Two Crore Twenty Five Lakh only). Token/earnest: ₹5,00,000 (Rupees Five Lakh only). Payment on agreement: ₹17,50,000 (Rupees Seventeen Lakh Fifty Thousand only). Balance on completion: ₹2,02,50,000 (Rupees Two Crore Two Lakh Fifty Thousand only).

Agreement target: 2 April 2026. Completion/registration target: 3 April 2026.

3. CONDITIONS

Title: Subject to satisfactory advocate title and encumbrance review. Financing: No financing condition. Possession: Vacant possession simultaneously with registration and full payment.

Dues: Seller clears property taxes, society dues and utilities up to completion. Stamp/registration cost: Buyer bears stamp duty and registration fees for conveyance. Brokerage: Each party pays its separately engaged broker.

Questions about this document

Does the Term Sheet for a Property Purchase need stamp paper or stamp duty in Punjab and Chandigarh?

No conveyance duty for this non-binding record. If reworded as a binding sale, transfer, charge or release, duty follows its true character.

Does the Term Sheet for a Property Purchase need registration in Punjab and Chandigarh?

Not compulsory — a contract for sale creates no property interest (TP Act 1882 s.54). Registrable only at the eventual agreement/conveyance stage.

What does the Term Sheet for a Property Purchase cost on Kaagazaat?

₹99, GST included.

Launch period: downloads are free for now. The prices shown apply once payments open.

Does the Term Sheet for a Property Purchase need witnesses?

Not legally required for a preliminary record. Two witnesses are prudent only for a binding term sheet.

Often needed with this document

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