AGREEMENT TO SELL

THIS AGREEMENT TO SELL is made and executed on this _________Day of May,

Two Thousand Nineteen (___.05.2019) at Bangalore.

BY AND BETWEEN:

Sri. Ullas Babu P.A

S/o. Late. S. Purushothaman
Aged about ----- years
Residing at Apartment Unit No. 414, (Survey No. 6/4A), Narayanaghatta
Village, Sarjapura Hobli, Anekal Taluk, Bangalore
PAN NO:

Hereinafter called the “VENDOR” (which expression shall wherever the context so admits
or requires, shall mean and include all their heirs, legal representatives, successors-in-
interest, executors, administrators, assigns, etc.,) of the ONE PART.

AND:

Mr. Sundaram
Aged about 78 years,
Residing at 56-93, Amman Sannathi Street,
Sengottai, Tirunelveli, Tamil Nadu 627809
Pan No: ATVPS8519C

hereinafter called the “PURCHASER” (which expression shall wherever the context so
admits or requires, shall mean and include all her heirs, legal representatives, successors-
in-interest, executors, administrators, assigns, etc.,) of the OTHER PART.

WITNESSES AS FOLLOWS:

I. WHEREAS the Vendor is the sole and absolute owner and in possession of
Property bearing Apartment Unit No. 414 admeasuring 941 Square Feet (Survey
No. 6/4A), situated at situated at Narayanaghatta Village, Sarjapura Hobli, Anekal
Taluk, Bangalore Urban District (East), Karnataka which is more fully
particularized in the schedule herein below and herein after referred to as
“SCHEDULE PROPERTY”.

II. Whereas the property bearing land bearing Survey No. 6/4A admeasuring 01 acre
03 guntas owned by the Ramaswamy Reddy and his sons namely N. R. Venkata
Reddy, N. R. Ramaswamy Reddy, N. R. Shamanna Reddy, N. R. Narayanaswamy
Reddy, N. R. Subba Reddy and N. R. Krishna Reddy, upon the partition dated
October 10, 1956 registered as Document No. 2005/1956-657, Book-I, Vol No. 773,
 the said survey number was allotted to N.R Venkata Reddy, after his death N.V
Keshava Reddy, N. V Shankara, S. Vijayalakshmi, Dr. K Priyadarshini and K.
Prathyusha came into possession by way inheritance and by way of sale deed dated
June 03, 2011, registered as Document No. SRJ-1-00950/2011-12, in Book-1,
stored in CD No. SRJD69, they sold the said property in favour of M/s Asset
Handlers Private Limited (Rep by its Authorized Signatory M.A Rahiman), Whereas
by way of sale deed dated February 28, 2013, Registered as Document No. SRJ-1-
6372/2012-13, in Book-1, stored in CD No. SRJD118, in the office of the Sub-
Registrar, Sarjapura M/s Asset Handlers Private Limited (Rep by its Authorized
Signatory M.A Rahiman), sold the Apartment Unit No. 414 admeasuring 941 Square
Feet, in favour of Ullas Babu P.A son of S. Purushothaman. The Vendor have
obtained Khatha Certificate from BDA and have paid tax to the authorities
concerned.

III. WHEREAS after acquiring the property the Vendor have become the absolute
owners of Apartment Unit No. 414 totally admeasuring 941 Square Feet property,
which is more fully particularized in the schedule herein below and herein after
referred to as schedule property.

IV. After acquiring the Schedule property, the Vendor have initially obtained the
Khatha Certificate, from BDA and have paid tax to the BDA concerned.
Subsequently the schedule property was fallen within the jurisdiction of BBMP
accordingly the Vendor have obtained Khatha Certificate, Khatha Extract, by
paying upto date tax to the authorities BBMP concerned.

V. WHEREAS the Vendor is the absolute owners with all marketable title and except
the Vendor no other persons/person have any right, title, or interest in or over the
schedule property.

VI. WHEREAS the Vendor have expressed their desire to sell the schedule property in
order to meet their financial commitments and for acquiring some other properties
and also to meet other family commitments for sale price of Rs.3,188 per Sq. ft,
which works out to a total consideration of Rs.30,00,000/- (Rupees Thirty Lakhs
Only) subject to actual, physical measurement of the property and the Purchaser
who is in need of the schedule property has also agreed to purchase the same on the
following terms and conditions mentioned hereinafter set out.

VII. WEHREAS the Vendor hereby state that;

a. That the Vendor is the absolute owners of the schedule property and their title is
good, marketable and subsisting and none else have any rights, title, interests or
shares thereon.
 b. That the schedule property is not subject to any encumbrances, court attachments or
injunctions.

c. That the Vendor have not entered into any other agreement or arrangement for sale
or transfer of the schedule property with anyone else.

d. That the Vendor is in actual physical possession and enjoyment and personal
occupation of the schedule property.

e. That there is no impediment for the Vendor to hold or to sell the schedule property
under any law.

VIII. WHEREAS the Purchaser has agreed to purchase the Schedule Property after
satisfying him selves of the correctness of the representations made by the Vendor
and the parties are desirous of reducing terms agreed into writing:

NOW BY THESE PRESENTS, THE VENDORS AND THE PURCHASER

HEREBY AGREE, DECLARE AND COVENANT.

That in pursuance of the foregoing and in consideration of the price hereby agreed to and
advance paid this day, the Vendor hereby agrees to sell and the Purchaser hereby agrees to
purchase the schedule property hereunder subjected to the following terms and conditions.

1. SALE PRICE:

The price to be paid by the purchaser to the Vendor towards the schedule property
shall be Rs. 3,188/- per Square ft, which work out to total sale consideration of
Rs.30,00,000/- (Rupees Thirty Lakhs Only) subject to actual, physical
measurement of the property.

2. PAYMENT OF PRICE:

Initial Sale Consideration: The Purchaser has this day paid a sum of
Rs.15,00,000/- (Rupees Fifteen Lakhs only) by Cheque bearing No. 172090 dated
15-05-2019 drawn on Axis Bank, HSR Layout Branch, Bangalore and Rs.7,00,000/-
(Rupees Seven Lakhs only) in cash on 16-05-2019 as advance to the Vendor.

The Vendors does hereby admit and acknowledge the payment and receipt of the
Initial Sale Consideration of a sum of Rs. 22,00,000/- (Rupees Twenty Two Lakhs
only) as advance and from the same and every part thereof does hereby acquit,
release and discharge the Purchaser forever.

Final Sale Consideration: The Purchaser agrees to pay the remaining amount of
the total sale price, i.e., a sum of Rs.8,00,000/- (Rupees Eight Lakhs only) towards
 the final sale consideration shall be paid by the purchaser to the vendor at the time
of execution of the absolute Sale Deed and thus completing the Sale transaction.

TERMINATION DATE OF AGREEMENT - TIME OF COMPLETION:

The Sale shall be completed on or before the 30th Day of July Two Thousand
Nineteen (30.07.2019) being the Termination Date of the Agreement, i.e., Time
of Completion shall be within Two months (2) from the date of this agreement.
The time is the essence of the contract. Further the vendors shall furnish all the
Original Title and marketable Documents within agreed time before the registration
of Sale Deed. The registration of the Sale Deed shall be scheduled to be executed
on or before the Termination Date of Agreement.

The Vendor does hereby admit and acknowledge that any failure on his part to hand
over the possession of the aforementioned scheduled property within a period of
three months from the date of execution of this agreement to sell in the manner
detailed above before the Termination Date of this Agreement of Sale, shall result
in forfeiture of the Initial Sale Consideration already paid and the Vendor would
be liable for the repayment of the initial consideration amount paid in advance.

4. EXPENSES:

The stamp duty registration expenses with regard to the Sale Deed shall be borne
by the purchaser.

5. NOMINATION

The Vendor shall execute the Deed of Sale conveying the schedule property either
in favour of the purchaser or his nominee/s.

6. CONSEQUENCES OF BREACH

In the event of either party to this Agreement committing breach, the aggrieved
party shall be entitled to enforce specific performance of this contract as per law
and also recover all cost, expenses and losses incurred by him as a consequence of
such breach from the party committing breach.

7. That the Vendor further covenant that except this Memorandum of Sale Agreement,
they have not executed any agreement of sale in respect of schedule property and
there is no subsisting agreement in respect of the schedule property.

8. That the Vendor hereby assure the Purchaser that Vendor possess a valid right, title
and interest to sell the schedule property. Further, the schedule property is free from
 all encumbrances, charges, demands litigations, claims acquisitions, liens, and
mortgages. The Vendor further covenant that the schedule property is self - acquired
property of the vendor and there are no minors claim or claims of any person/persons
and there are no legal impediments to sell the schedule property in favour of the
purchaser or his nominees and that except the Vendor, there are no other claimants
to the schedule property.

9. That the Vendor - hereby assures the Purchaser that all taxes/cess/cesses/due/s to
the Revenue Authorities or any other authorities in respect of the schedule property
shall be paid by the Vendor upto the date of registration of sale deed. Further the
Vendor shall get the land assessed by tax authorities and shall pay the tax after the
assessment of the entire land.

10. That Vendor shall obtain all necessary and requisite, revenue documents, survey
documents and permission from the concerned authorities (including Income-Tax
authorities if necessary), for the execution of Sale Deed in favour of the purchaser.

11. Furthermore the Vendor shall at all times hereafter indemnify and keep indemnified
the purchaser against any loss, damages, costs, charges if any suffered by reason of
any defect in the title of the Vendor or any claims made by any person or persons
claiming in trust for the vendors or any breach of the covenants herein contained or
against the any action/proceedings initiated by any person/s against any claims made
in respect of the schedule property.

12. That the Vendor have handed over the photo copies of the title deeds to the
Purchaser and all parental documents, revenue documents to show their valid
marketable title in respect of the schedule property in their name and also necessary
permissions if required for registration of Sale Deed in favour of the Purchaser
within agreed period at their cost without causing any hindrance to the Purchaser.

13. That the vendor have to obtain clubbed Khatha certificate from BBMP by clubbing
the marginal land with the main site and property has to be assessed for tax and
latest Khatha certificate, Khatha Extract has to be furnished by paying upto date tax
to the authorities concerned.

14. That the Vendor hereby undertake to get the consent of family members of Vendor
for the sale deed, in order to confirm the sale made in favour of Purchaser and to
perfect the title of purchaser.

15. That the Vendor hereby declares that the schedule property is absolute property of
him and no one-else have any manner of right, title or interest in or over the schedule
property. Further the Vendor have no objection for the purchaser to give public
Notice, regarding purchase of the schedule property in any daily News Paper.
 16. That the Vendor agreed to handover physical possession of the schedule property at
the time of registration of Sale Deed.

17. That the Vendor hereby by agrees to deliver all the original title documents at the
time of registration of Sale Deed.

18. That the purchaser shall bear the stamp duty, registration fees for registration of sale
deed in his name.

SCHEDULE PROPERTY

Apartment Unit No. 414 admeasuring 941 Square Feet (Survey No. 6/4A), situated at
situated at Narayanaghatta Village, Sarjapura Hobli, Anekal Taluk, Bangalore Urban
District (East), Karnataka. and bound in the following manner:

East by : Land bearing Site No. 6/2

West by : Land belonging to Lakshmi Reddy
North by : Land belonging to Ananda Reddy
South by : Road

IN WITNESS WHEREOF, BOTH THE VENDORS AND THE PURCHASER HAVE

PUT THEIR RESPECTIVE SIGNATURES TO THIS AGREEMENT TO SALE
BEFORE THE FOLLOWING WITNESSES ON THE DAY, MONTH AND YEAR
ABOVE WRITEN.

WITNESSES:

1. VENDOR

2. PURCHASER