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DRAFT SALE AGREEMENT/SALE DEED/AGREEMENT FOR SALE REGISTRATION

SALE AGREEMENT REGISTRATION

DRAFT SALE AGREEMENT/SALE DEED/AGREEMENT FOR SALE REGISTRATION

SALE DEED MEANING :

A Sale Deed is a legal instrument whereunder a person can voluntarily transfer his/her rights, title, and interest in immovable property to the other person in consideration. Sale agreement is an instrument that grants rights to the property which is purchased by the buyer. Sale Deed/Sale agreement is an important document for buyer as well as the seller. In other words, a Sale Deed is proof of purchase.  Sale Deed Registration/ Agreement for sale registration can be done in India.

We call Sale agreement by many names like Purchase and sale agreement, home purchase agreement, house purchase agreement, property sale agreement, purchase and sale contract.

When consideration is fully paid then on execution immediate possession will be given to the purchaser and the same is termed as the agreement of sale with possession.

Let’s see an example about Sale deed – Person “A” sell his house or land to person “B”. The legal document for this will be through a Sale agreement Registration which they both execute.

Laws related to Sale deed/Sale Agreement is specified under Section 54 of the Transfer of Property Act, 1882.

Sale agreement is also known as purchase and sale agreement, home purchase agreement, house purchase agreement, property sale agreement, house sale agreement, purchase and sale contract, sell purchase agreement.

When we purchase or sell non-residential property like a shop or godown then we call such agreements – commercial property purchase agreement.

TYPES OF SALE DEED

There are 2  types of Sale deed – 1. Sale of movable property means the sale of the kind. 2. Sale of immovable property means land sale agreement or agreement for the sale of flat.

SALE DEED MEANING IN MARATHI

विक्री करार हा कायदेशीर दस्तऐवज आहे जो पक्षास एका व्यक्तीकडून दुसर्‍याकडे मालमत्ता हस्तांतरित करण्यास सक्षम करतो. मालमत्ता हस्तांतरण कायदा १82 18२ च्या कलम 
54 अन्वये याची व्याख्या केली गेली आहे; “विक्री” म्हणजे मालमत्तेचे हस्तांतरण म्हणजे अदा केलेल्या केलेल्या किंमतीच्या बदल्यात. अशा प्रकारे विक्री करार न करता, मालमत्तेच्या हस्तांतरणाचे प्रमाणित करण्याचा कोणताही पुरावा नसतो, 
त्यानंतर मालमत्तेचे हस्तांतरण सुलभ करण्यासाठी कोणताही पुरावा उपलब्ध नाही.

SALE AGREEMENT IN HINDI

विक्री करार एक कानूनी दस्तावेज है जो एक पार्टी को एक व्यक्ति से दूसरे व्यक्ति को संपत्ति हस्तांतर करने में सक्षम बनाता है। इसे संपत्ति हस्तांतरण अधिनियम, 1882 की धारा 54 के तहत परिभाषित किया गया है; 
"बिक्री" एक कीमत के भुगतान या वादे या अंश-भुगतान और आंशिक-वादा के बदले में स्वामित्व का हस्तांतरण है। इस प्रकार, बिक्री विलेख के बिना, संपत्ति के हस्तांतरण को सत्यापित करने के लिए कोई सबूत नहीं होगा, 
आगे संपत्ति के बाद के हस्तांतरण की सुविधा के लिए कोई सबूत नहीं होगा।

SALE DEED SAMPLE

Let’s see the draft Sale agreement for understanding, however, it is always recommendable that you have to draft the Sale deed through the Sale Deed lawyer.

 

DRAFT SALE AGREEMENT

SALE DEED

This Sale agreement made this ______________2020 between; 

Mr. __________________, Age ____years resident of ________________________________ (hereinafter called the “Vendor”) of the One part

and

Miss ________________________, Age ____ years (hereinafter called the “Vendee”) of the Other part.

Witnesseth as follows:

the Vendor is the absolute owner, having acquired the property, which is more specifically and
clearly delineated in the schedule hereto, by inheritance / by partition of joint family properties/
by release/by gift / by gift settlement / by will / by sale executed by
…………………………………and registered as document No…………of………………. of

Book…………………Volume No…………………..Pages……………….in the office of the
Registrar / Sub-Registrar…………………………………… and since then he is in the
possession and absolute enjoyment thereof.


Whereas the vendor intends to sell away the said property mentioned in the schedule and
whereas the Vendee offered to purchase it for a sum of Rs…………………..for which the
Vendor accepted and has agreed to sell the same to the Vendee.


NOW THIS DEED OF SALE WITNESSETH:


That in consideration of payment of Rs…………………(Rupees ) by cash/by Cheque No. Date:
/by Demand Draft No………………Date……………….by the Vendee to the Vendor/paid in the
presence of the Sub-Registrar, the receipt of which the Vendor hereby acknowledges, the Vendor
hereby sells, conveys, transfers and assigns unto the Vendee all his rights, title and interest, claim
and demand whatsoever in the schedule mentioned property and delivers vacant possession
thereof to the Vendee to hold the same absolutely for ever free from all encumbrances, together
with all water sources, privileges, easements, appurtenances or any other things hidden in the
earth belonging to or appurtenant thereto.

The Vendor further agrees to indemnify the Vendee and keep him free from disputes if any
raised or objections made to this conveyance by any one and further should any claim be made
or dispute raised at any time of any one in regard to this sale, the vendor hereby undertakes that
he shall, at his own cost, settle the same and execute or cause to be executed such further acts,
deeds and things as to more fully effectively convey title to the property hereby sold and
conveyed to the Vendee.


The Vendor also assures the Vendee that if there remains any liability of taxes or rates for the
said property to the Municipal Corporation / Municipality / Panchayat or other Government or
statutory authorities upto the date of this conveyance, the Vendor shall clear the same and in case
the same are collected from the Vendee, the Vendor shall pay the same to the vendee.


The Vendee is hereby entitled to get the said property transferred in his name in all Panchayat /
Municipal/ Municipal Corporation records and enjoy the same with absolute rights forever.


                                                                         Schedule
All that piece and parcel of the land measuring ———- Square yards or acres Square
meters/Guntas / cents in Survey No./T.S.No.——– together with the house bearing D.No. ——–
—- with a plinth area of square feet ————, situated at ———— covered by ward No……..
Block No….. of Municipal Corporation Area/Municipal Area/ Panchayat Board area and Sub-
District and ——————-.

IN WITNESS WHEREOF, the VENDOR and the VENDEE have signed this SALE DEED at —
——– on the date first mentioned above in the presence of the following witnesses:

VENDOR

VENDEE

WITNESSES:
1.

2. 

 

 

 

                                                             

PROPERTY SALE DEED RULES

Following are the property sale agreement rules and also considered as sale and purchase agreement key terms to be kept in mind while making a draft sale agreement or agreement for sale registration.

  • Sale agreement should contain consideration. Sale deed can not be made or registered without consideration. In gift deed, there is no consideration.
  • In Sale agreement Registration can be done for the property you own. You can sale only what you have or you own.
  • Mention address with Village, City, Taluka , District, State, CTS No, Survey Number of the property you are selling. This will give certainty.
  • Sale agreement should have confirmation of handing over the possession of the property to the Purchaser of execution of sale deed.

GET FREE CONSULTATION FROM SALE DEED LAWYER NOW

 

DOCUMENTS REQUIRED FOR SALE AGREEMENT REGISTRATION

  1. Old Sale Deed/ Index-II. 
  2. 7/12 Extract copy in case of a land sale agreement.
  3. Share certificate in case of an agreement for sale registration of flat/ sale deed of flat.
  4. Maintenance receipt in case of flat Registration.
  5. PAN, AADHAR of buyer seller agreement.
  6. Pan and AADHAR copy of 2 witness.
  7. 2 Passport size photographs of Flat Purchaser and Flat seller at the time of Sale agreement registration.
  8. Light Bill copy.
  9. Occupation certificate – A copy of the Occupation certificate will be used for getting depreciation benefits on the property market value.
  10. Society property tax receipt.

SALE AGREEMENT STAMP DUTY/STAMP DUTY ON AGREEMENT TO SALE IN MAHARASHTRA :

sale agreement registration cost includes Drafting charges + Stamp duty + registration fees + Scanning charges + charges for assitance at Sub registrar office. Before proceeding for any transaction sale agreement registration cost should be considered to evaluate the actual expeneses.

Stamp duty in Mumbai and Mumbai Suburban is 3% and sale agreement Registration fees is 1% or Rs. 30000/- whichever is lesser.

Stamp duty in rest of  MAHARSHTRA is 4% and sale agreement Registration fees is 1% or Rs. 30000/- whichever is lesser.

Above ratio will also be applcable for agreement to sell stamp duty/ stamp duty for agreement to sell.

Note : Due to covid Pandmic stamp duty rates may vary. Please contact for latest stamp duty rates confirmation after March 2021.

SALE AGREEMENT REGISTRATION PROCEDURE :

  1.  Sale agreement registration lawyer will prepare a draft agreement for sale registration. If you have a problem understanding the draft of sale agreement in English you can choose to go for an agreement to sale in marathi for registration.
  2. He will send a draft sell agreement by mail and get approval from you.
  3. On approval, he will lodge sell Deed and Compilation of documents required for registration of sale agreement in the Office of sub-registrar by taking both party signature.
  4. If document queried by office registration lawyer will resolve same.
  5. Visit to get approval on the draft by Sub Registrar.
  6. Once it is approved by the sub Registrar applicable sale agreement stamp duty will be paid online and attach challan to the documents
  7. Execution and registration of sale agreement in final.
  8. After registration, you can wait to take handover of the document.

It is a duty of the purchaser if there is a land sale agreement he should submit a copy of the registered land sale contract in the Village gram panchayat office to transfer the property in his name. It is duty of the Purchaser if there is sale deed of flat or registration of resale flat he should submit the copy of the registered agreement for sale of property in housing society to transfer share certificate in his name.

TDS ON SALE AGREEMENT? :

  • The buyer has to deduct TDS at the rate of 1% of the total sales consideration.
  • Note that the buyer must deduct the TDS, not the seller.
  • The rate is 0.75% for transactions made between 14 May 2020 and 31 March 2021.
  • Consideration There is no need to deduct TDS if the sale is less than Rs.50,00,000/-
  • If the amount is paid in installments, TDS is deducted on each installment paid.


Source – Mirror Now

OTHER IMPORTANT INFORMATION ON SALE DEED :-

NOTARIZED SALE AGREEMENT :

Notarized gift deed of immovable property is not valid as if sale agreement of immovable property is not registered the ownership could not be pass on to the purchaser on the record of government.  If you will not pay stamp duty on sale deed then the unregistered sale deed is not enforceable. There is very little scope to challenge registered sale agreement validity whereas unregistered sale agreement validity could be always challenged in the court of law as buyer and seller do not sign and execute before the Sub-registrar.

MHADA REGISTRATION FLAT / CIDCO REGISTRATION OF FLAT/ SRA FLAT REGISTRATION :

If the property comes under the jurisdiction of MHADA or CIDCO, then sometimes for the sale permission/NOC required. After-sale agreement registration separate application needed to be made for transferring the property in favour of the purchaser in the records of MHADA or CIDCO or SRA and it raises registration cost for flat.

In the case of MHADA lottery property there is a restictioni on sale till completion of 5 years from the date of allottment.

In the case of SRA allottmemnt of room there is restriction on sale till completion of 10 years from the date of allottment.

AGREEMENT TO SELL/AGREEMENT FOR SALE:

An agreement to sell a property is also called “satakhat” in Marathi. It could be termed as a sale agreement without possession because its a conditional sale agreement where buyer and seller agree on certain conditions to be fulfilled in the future like part payment at the time of the execution of the agreement to sell and final payment through bank loan after a month or further payments in part, or flat/building under construction and once the condition is fulfilled by completing the construction or paying full consideration amount, parties execute the sell agreement with possession.

Most of the time citizens opt-out for mou for sale of a property and then register the sale agreement if the conditions stipulated mou between buyer and seller have complied.

Citizens could also opt-out for a registered sale deed without possession or sale deed without delivery of possession, wherein purchaser takes the possession after compliance of the conditions stipulated in the sell agreement. It is always recommendable to register an agreement to sell because an unregistered agreement to sell, could not be enforced or proved in the court of law.

PLOT SALE AGREEMENT :

in the case of sale agreement, one cannot make a simple land purchase agreement because there are several land laws which are needed to be considered. If the land is agricultural land you should be farmer to purchase it. You need to be a farmer means you should have on 7/12 extract your name, you should have agricultural land in your name in records of the government.

There are restrictions on the minimum size of land for sale. You also need to consider whether the land in an agricultural zone, residential zone, industrial zone, green zone etc. Most of the citizens are fooled in the name of NA bungalow plot, township projects. So we have to take more precautions in case of plot sale agreement.

Shreeyansh Legal provides purchase and sale agreement lawyer in thane, purchase and sale agreement lawyer in navi mumbai, purchase and sale agreement lawyer In Navi Mumbai. Our team has best sale agreement registration lawyer who will assist clients in an efficient manner for sale deed registration in mumbai and sale deed registration in thane. It is easy task to get good sale agreement registration lawyer but the question comes about the transparency and credibility.

Our team provides advocate for sale deed registration in navi mumbai and mumbai as per the requirement of client considering the overall details and documentation required.

Most people expect sale and purchase agreement lawyer fee lesser… Here team shreeyansh legal comes for help. Our team guides citizens when they want to execute sale agreement deed regarding exact stamp duty payable and documents required.

Get service of sale agreement registration in mumbai from Shreeyansh Legal for hassle-free agreement for registration.

References and more to read :

CONTACT US FOR AVAILING PROFESSIONAL SERVICE FOR SALE DEED REGISTRATION, SALE AGREEMENT REGISTRATION IN MUMBAI, SALE AGREEMENT REGISTRATION IN THANE , SALE AGREEMENT REGISTRATION IN NAVI MUMBAI.

Sale agreement FAQ

A Sale Deed is a legal instrument whereunder a person can voluntarily transfer his/her rights, title, and interest in immovable property to the other person in consideration. Sale agreement is an instrument that grants rights to the property which is purchased by the buyer. Sale Deed/Sale agreement is an important document for the buyer as well as the seller. In other words, a Sale Deed is proof of purchase and registration is signing and executing sale deed or any document before the respective Sub Registrar appointed by the government which makes the document legally enforceable and genuine and legal in all aspects.
Yes, the Sale agreement can be registered at the sub-registrar office designated for the taluka, district where the property situated.
Yes, if you will not register it lateron you can not claim the rights mentioned it or it will become part of the dispute and need to be proved in a court of law if any of the parties refuse to comply with the terms and clauses mentioned in the sale agreement.
Sale agreement registration is the process where we present, sign and execute the put the sale agreement before the Sub-registrar by paying respective stamp duty and registration fees to the government.