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This Agreement of Sale is made and executed on this 17th February 2024 by and
between :
(Herein after called as VENDOR which shall mean and include his legal heirs,
representatives, administrators, executors, assignees etc)
AND
(Herein after called as VENDEE which shall mean and include his legal heirs,
representatives, administrators, executors, assignees etc)
Whereas the Vendor is the sole absolute owner and possessor of the agriculture
land admeasuring Ac 24.39 Gts situated at Survey No.240, 241 and 249,
Proddutur Village, Shankerpalle Mandal, Ranga Reddy Dist having TD cum pass
book no.T05240121224.
Whereas the Vendor has purchased the same land from its original owner
Mr.Muppidi Sriram Reddy, S/o Ranga Reddy, R/o Banjara Hills, Hyderabad vide
Regd Sale Deed No.3971/202, Dt 18.09.2021 at MRO Office, Shankerpalle having
TD Cum Passbook No.T05240121052.
Whereas the Vendor is in need of funds and offer to sell the same land to Vendee
and Vendee being a reputed real estate/builders having vast experience in selling
open plots/villas/plots/apartments showed interest in purchasing the same from
Vendor.
Whereas the deal for the total land is agreed for Rs.3,40,00,000/- (Rupees Three
crores forty lakhs only) per acre and in this regard the Vendee has paid an token
advance of Rs.50,00,000/- (Rupees Fifty lakhs only) by way of Cash and
Rs.50,00,000/- (Rupees Fifty laksh only) by way of Cheqs No.000286, 000287,
Dt.13.02.2024 HDFC Bank Ltd., Santoshnagar, Hyderabad.
Whereas its is mutually agreed by both the parties that they will enter into
Agreement of Sale within a week of paying token amount and at the time of
agreement the Vendee will get registration of Ac 3.00 Gts of land with the Vendor
for the mentioned land.
Whereas after Vendor has handed over the peaceful possession of the land to the
Vendee and Vendee is at liberty to start development work such as survey,
cleaning, fixing boundary and all such development activities.
Whereas the Vendee further get the registration of about Ac 5.00 gts after 25
days from date of this agreement. And after that with in a period of 3 to 4 months
the total registration process will be completed by Vendee by paying full and final
sale consideration for total land admeasuring Ac 24.39 Gts.
Whereas the Vendor has confirmed that he has not entered into agreement of
sale/mou nor any type of lien on the above mentioned land and the land is free
from any litigations.
Whereas the Vendor will not interfere in the works carried out by the Vendee on
the land and the Vendor will extend full co-operation in all manners.
Whereas the Vendee will full fledgly develop the land and convert the same into
farm land plots and sell the same to its clients/customers etc for which the
Vendor has no objection in doing so.
That the both the parties shall abide by the terms and conditions of this
Agreement of Sale till the completion of transactions.
All the agriculture land admeasuring Ac 24.39 Gts situated at Survey No.240, 241
and 249, Proddutur Village, Shankerpalle Mandal, Ranga Reddy Dist
Vendor
Vendee