AGREEMENT TO SELL
THIS AGREEMENT TO SELL IS MADE AND EXECUTED ON THIS THE
TWENTY FIFTH DAY OF JANUARY TWO THOUSAND TWENTY ONE
(25.01.2021) AT BENGALURU.
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BETWEEN:
MRS. S. RUPASHREE
W/o. A.N. Srinivas
Aged about 40 years
Residing at No.81,
II ‘B’ Main Road,
Yelahanka New Town,
Bengaluru-560065.
PAN :
Hereinafter referred to as the ‘VENDOR’ (Which expression shall
wherever the context so requires shall mean and include his/her
legal heir, legal representatives, administrators, agents, executors
and permitted assigns etc.,) OF THE ONE PART:
AND
MR. SUBRAMANYAM.G
S/o. Sri. Garapati Krishna,
Aged about 40 years
Residing at No.302, 4th Floor,
N.R.Royal Homes, 1st Main,
6th Cross, Vinayaka Nagar,
Kattigenahalli, Bengaluru North,
Yelahanka, Bangalore-560064.
PAN No: ARWPG2152L
Hereinafter referred to as the ‘PURCHASER’ (Which expression
shall wherever the context so requires shall mean and include
his/her legal heir, legal representatives, administrators, agents,
executors and permitted assigns etc.,) OF THE OTHER PART:
WITNESSETH:
WHEREAS the Vendor herein is the absolute owner and in actual
possession and enjoyment of all that piece and parcel of Site
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bearing No.318/41, Yelahanka Municipal Khatha No.364, Situated at
Venkatala Village, Yelahanka Hobli, Bangalore North Taluk,
Bangalore District, presently comes under the jurisdiction of Bruhat
Bengaluru Mahanagara Palike (BBMP), Khatha No.1118/364/318/41,
Venkatala, Ward No.1, Bengaluru and measuring East to West 50
Feet and North to South 24 Feet, totally measuring 1200 Sq., Feet,
hereinafter and hereunder more fully referred as “SCHEDULE
PROPERTY”.
WHEREAS the schedule property originally belonged to the Vendor
herein, having acquired the same from Sri. Ramaiah rep., by his GPA
holder Sri. A.C.Nagaraja under a Sale deed dated 24.03.2004, vide
Registered as Doc.No.YAN-1-20546/2003-04 of Book-1, Stored in
CD.No.YAND22 in the office of the Sub-registrar Yelahanka,
Bangalore. Ever since from the purchase of schedule property, the
Vendor herein is the absolute owner in peaceful possession and
enjoyment of the Schedule Property, subsequently the Vendor had
obtained the Khatha of the Schedule property in his name from
Bruhat Bangalore Mahanagara Palike (BBMP), Bangalore, vide
Khatha Endorsement/Uttara Patra dated 09.06.2010 and Khatha
Certificate and Extract dated 10.06.2010 and up to date taxes were
paid to the concerned authority. The Vendor is having absolute right
over the Schedule Property to sell the Schedule Property.
WHEREAS, the Vendor is in need of funds to meet his legal and
family necessities desirous of disposing off the Schedule Property
approached the purchaser for the sale of the Schedule Property and
the Purchaser agreed to purchase the same. WHEREAS the Vendor
has offered to sell the Schedule Property for total sale consideration
of sum of Rs.34,50,000/- (Rupees Thirty Four Lakhs Fifty
Thousand only) and the Purchaser herein has agreed to purchase
the same for the said sum of Rs.34,50,000/- (Rupees Thirty Four
Lakhs Fifty Thousand only) which is free from all encumbrances.
NOW IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES
AS FOLLOWS:
That in pursuance of the aforesaid and in consideration of the
mutual obligations undertaken by the parties hereto, the Vendor
shall sell and the Purchaser shall purchase the Schedule Property
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free from all encumbrances, mortgages, litigations, charges,
maintenance charges, claims and demands, court attachments,
acquisition proceedings, departmental and governmental
proceedings etc., subject to the following terms and conditions:-
1) SALE PRICE:
1.1) The total consideration for the sale of Schedule Property is
Rs.34,50,000/- (Rupees Thirty Four Lakhs Fifty
Thousand only) The purchaser on this day on due
performance of his part of agreement has paid a sum of Rs.
19,00,000/- (Rupees Nineteen Lakhs only) through the
following manner:
i) A Sum of Rs. 5,00,000/- (Rupees Five Lakhs only) by
way of cash payment favoring the Vendor.
ii) A Sum of Rs. 7,00,000/- (Rupees Seven Lakhs only)
by way of Cheque bearing No………, dated ……… drawn
on HDFC Bank, ………. Branch, Bangalore.
iii) A Sum of Rs. 7,00,000/- (Rupees Seven Lakhs only)
by way of Cheque bearing No………, dated ……… drawn
on HDFC Bank, ………. Branch, Bangalore.
Which the Vendor hereby admits and acknowledges the receipt of
the same on the execution of this Agreement being the part of sale
price. The Vendor has agreed to complete the sale of the Schedule
Property in favour of the Purchasers or their nominee/s and when
the Purchasers desire in terms of this Agreement without demanding
any additional amount apart from as agreed in this Agreement.
1.2) the Purchaser has agreed to make the payment of balance sale
consideration of Rs. 15,50,000/- (Rupees Fifteen Lakhs
Fifty Thousand only) on or before the execution of the sale
deed in his favour or his nominees, on the Vendor complying all
the terms and conditions of this Agreement.
2) PERIOD FOR COMPLETION:
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The sale of Schedule Property shall be completed within Three
(03) months from the date of this Agreement or when called
upon by the Purchaser whichever is earlier, subject to the Vendor
satisfying his title over the Schedule Property unless otherwise
both parties mutually extend or alter the period in writing only.
3) TITLE/VENDORS'S OBLIGATION:
3.1) The Vendor hereby covenant, declare, assure and confirms
that apart from him there is no other person interested or
having any claim in Schedule Property or portions thereof and
he has not entered into any Agreement to Sell in respect of the
Schedule Property or its portions in favour of any other person
and has not transferred part or whole of interest in the
Schedule Property to any person in any manner and there is
no restraint for him to sell the Schedule Property in terms of
this Agreement. The sale of Schedule Property is subject to
encumbrance free, clear and marketable title of Vendor to the
same. The Vendor covenant and bind him and assure the
Purchasers that:
a) The Vendor is the sole and absolute owner of the Schedule
Property and his title to the Schedule Property is clear, good,
marketable and subsisting and that none else have any right,
title, interest or share therein Schedule Property is free from
encumbrances and claims including all claims by way of sale,
exchange, mortgage, gift, inheritance, trust, possession,
easement, lien or otherwise.
b) The Vendor has not entered into any agreement or
arrangement for sale of the Schedule Property with anyone
else and has not executed any Power of Attorney to deal with
the Schedule Property.
c) The Vendor assure the Purchaser that she has not made any
kind of sale transaction nor she has not received any sale
consideration from any third parties towards the Schedule
Property prior to this agreement.
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d) The Schedule Property is not subject matter of any
proceedings and the same is not attached or sold or sought
to be sold in whole or in portions in any Court or other Civil or
Revenue or other proceedings and not subject to any
attachment by the process of the courts or in the
possession or custody by any Receiver, Judicial or Revenue
Court or any officer thereof;
e) The Vendor assures the Purchaser that there is no acquisition,
requisition or notification in respect of the Schedule Property.
f) The Vendor do not have any pending liabilities with regard to
income tax, wealth tax, gift tax or any other tax which would
affect her title to the Schedule Property;
g) The Vendor has made available to the Purchaser herein all the
facts and details in proof of her title and has not withheld any
information in relation to the Schedule Property;
h) The Vendor is not prevented from selling the Schedule
Property to the Purchaser by any order of any Court or under
any law;
i) The vendor hereby agreed that the sale consideration shall be
changed if the physical site measurement become higher or
lower as per mentioned in Para No. 4 above.
3.2) The Vendor has agreed to deliver to the Purchaser all the
certified title deeds or copy of the originals relating to
Schedule Property in his custody and agree to furnish such
other documents as may be required by the Purchaser in
respect of the Schedule Property and answer all reasonable
requests to be made in respect of the title of the Vendor to the
Schedule Property and the sale of Schedule Property are
subject to marketability of title and free from all
encumbrances.
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3.3) The Vendor covenant that the sale of the Schedule Property is
for the benefit of the Vendor and the members of her family.
3.4) The Vendor has agreed that the purchaser can take paper
publication regarding purchase of the Schedule Property
calling for the objection from the general public. In the event of
any objection, the Vendor shall clear the same with her own
cost.
4) PROPERTY TAXES:
The Vendor shall pay all outgoings and other charges and
taxes etc., in respect of Schedule Property up-to this date and
the Purchaser shall be liable to pay all the taxes from this
date.
5) STAMP DUTY AND REGISTRATION FEE:
The Purchasers shall bear and pay the cost of non-judicial
stamp papers, registration fee and other expenses for this
Agreement to sell and registration of the Sale Deed.
6) VENDOR’ COVENANT:
6.1) That during the tenure of this Agreement to Sell, the Vendor
shall not deal with the Schedule Property or her title in any
manner prejudicial to the interest of the Purchaser and on the
other hand she shall keep her title and shall not encumber the
Schedule Property or execute any Power of Attorney
empowering any person to deal with the Schedule Property
which affects the rights of the Purchasers.
6.2) The Vendor hereby undertake and consent not to effect any
type of transfer i.e., sell, mortgage, Exchange, agreements,
etc., with any third party in respect of schedule Property
during the period of this agreement is in force.
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6.3) The Vendor covenants that if any issue arises with regard to
the ingress and egress on the road in respect of the schedule
Property the vendor shall resolve the same at his own cost
during the period of this agreement.
7. SPECIFIC PERFORMANCE:
In the event of any default by the Vendor in compliance of his
obligations under this Agreement, the Purchasers are entitled
to enforce specific performance at the cost and expenses of
the Vendor and claim damages and consequential losses and
damages arising out of such default. The Vendor assures and
covenants to keep the Agreement in force and subsistence at
all times. The Vendor undertake and bind not to do any act,
deed or thing which will affect the absolute right of the
Purchasers in dealing with the Schedule Property or portions
thereof. Notwithstanding clause of damages mentioned above
the parties are entitled to sue or to be sued in accordance with
Specific Relief Act-1963.
8) INDEMNITY:
The Vendor assure that apart from him, there is no other
persons interested in the Schedule Property or portions thereof
and the Vendor hereby agree to keep the Purchasers at all
times fully indemnified and harmless against any loss or
liability, action or proceedings, cost or claims which may arise
against the Purchasers or the Schedule Property and/or
portions thereof by reason of any defect in or want of title on
the part of the Vendor. The Vendor agree and bind to defend
the Purchasers herein against all claims and demands and the
expenses in this regard shall fully borne by the Vendor.
9) POSSESSION:
The Vendor shall deliver and put the Purchaser in actual
physical vacant possession of the Schedule Property at the
time of execution of Sale Deed. The Vendor agreed not to deal
with the Schedule Property in any manner prejudicial to the
interest of the Purchaser and further shall not alter the nature
of the Schedule Property without the Purchasers consent.
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10) CUSTODY:
The original of this Agreement shall be with the Purchaser and
the photo copy thereof with the Vendor.
SCHEDULE PROPERTY
All that piece and parcel of the residential immovable property
bearing Site No.318/4, Yelahanka Municipal Khatha No.364, Situated
at Venkatala Village, Yelahanka Hobli, Bengaluru North Taluk,
presently comes under the jurisdiction of Bruhat Bengaluru
Mahanagara Palike (BBMP), Khatha No.1118/364/318/41, Venkatala,
Ward No.1, Bengaluru and site measuring East to West 50 Feet and
North to South 24 Feet totally measuring 1200 Sq., Feet and
bounded on the:-
East by : Venkatamma’s Property;
West by : B.S.Sonnappa’s Property;
North by : Vasudeva Rao’s Property;
South by : Road.
IN WITNESS WHEREOF THE PARTIES ABOVE NAMED HAS SIGNED
AND EXECUTED THIS AGREEMENT TO SELL ON THE DAY MONTH AND
YEAR. FIRST ABOVE WRITTEN IN THE PRESENCE OF THE WITNESSES
ATTESTING HEREUNDER.
CONSENTING WITNESSESS:
1. A.N.SRINIVAS
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WITNESSESS:
1.
(S.RUPASHREE)
VENDOR
2.
(SUBRAMANYAM.G)
PURCHASER
DRAFTED BY
VINOD S
Advocate (KAR.1895/11),
No.19, 2nd Floor,
Magadi Main Road,
Bengaluru-560079.
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