Content of an agreement for the sale

Know about the elements need to be included in the agreement for the sale of a residential apartment:

The following particulars should be included in such an agreement:

* The liability of the promoter to construct the flat according to the plans and specifications, approved by the local authority if the building is to be constructed,
* The date by which the possession of the flat is to be handed over to the purchaser;
* The extent of the carpet area of the flat, including the area of the balconies, which should be shown separately;
* The price of the flat, including the proportionate price of the common areas and facilities, which should be shown separately, to be paid by the purchaser of the flat; and the intervals at which installments may be paid;
* The nature, extent and description of the limited common areas and facilities;
* The percentage of undivided interests in the common areas and facilities, appertaining to the flat that is agreed to be sold;
* The statement, pertaining to the permitted use of the flat and restriction of its use, if any;

Every agreement for the sale of a flat should contain these minimum particulars. Such agreement should be accompanied with the true copy of the

* Title Certificate by an Attorney-at-law or Advocate;
* the Property Card or extract of Village or any other relevant revenue record, showing the nature of the title of the promoter to the land on which the flats are constructed or, are to be constructed;
* the plans and specifications of the flat, as approved by the Municipal Commissioner.
* The agreement for sale is required to be registered.