agreement to sale - hesarghatta survey no.21[1]

8/4/2019 Agreement to sale - Hesarghatta Survey No.21[1]

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AGREEMENT OF SALE

THIS AGREEMENT OF SALE is made and executed at Bangalore on this 17th (Saturday) Day

of September 2011

BY and BETWEEN:

I. SMT. GANGAMMA

Aged about 70 Years,W/o Late Venkatappa

Residing at No.599,Dasappana Palya, Chikkabanavara,

Yeshwanthpura Hobli,Bangalore – 560 090

(D/o Late Narasimhiah alias Papanna)



II. SMT. KOTAMMAAged about 67 Years

W/o Late Yallappa

Residing at No.549, Dasappana Palya, Chikkabanavara,



III. SMT. THOLSAMMA ALIAS NAGAMMA

Aged about 63 Years

W/o Late Byrappa

Residing at Kurubara Beedi,2nd Ward,Thirumalai,

Magadi Town,Ramanagar Dist.- 562120.


IV. SMT. ASHWATHAMMA

Aged about 58 Years

W/o Anathramu

Residing at No.431-C, Chikkabanavara,





V. SMT. SAVITHRAMMA

Aged about 56 YearsW/o Ramachandrappa

Residing at No.600, “Ashirwad Nilaya”

Dasappana Palya,Chikkabanavara,



Hereinafter called the respectively “VENDORS” (jointly and severally) (which expression shall

wherever the context so requires or admits, mean and includes, their heirs, executors,

administrators and assigns) of the ONE PART.

AND:

SRI. VIVEK U SHAH

Aged about 24 Years

S/o Umesh D. Shah

R/o No.419, 10th Cross

17th Main, J P Nagar, II Phase

Bangalore-560 078

Hereinafter called the “PURCHASER” (which expression shall wherever the context so requires

or admits, mean and includes, his heirs, executors, administrators and assigns) of the OTHER

PART.



WHEREAS, the Vendors state that they are the absolute owners in peaceful possession and

enjoyment of agricultural land bearing Sy. No.21 of Keregulladahalli Village, Yeshwanthpur Hobli, and Bengaluru Uttara Taluka measuring 21 Guntas (inclusive of 2 Guntas of Kharab) land

more fully described in the Schedule below;

AND WHERAS the said entire schedule Property was bequeathed by the late Narasimhiah alias

Papanna and his wife Smt. Lakshmamma who had joint executed a Registered will bearing

No.63/1992-1993 at paged 66-72 Vol.40, Book III in the Office of the Sub-Registrar Bangalore

Uttara Taluka bequneteing undicded 1/5th she to the Parties of 1sat part Viz; I, II, III,IV and V of

the above. The said late Narasimhiah alias Papanna and his wife Smt. Lakshmamma having died

on 22-03-1993 and 07-09-2001, their children Viz; I, II, III, IV and V have taken possession and

are jointly and peacefully in possession of the same having got their names Mutauated in the

Revenue Records on the strength of the will referred to above and this is also reflected vide M R

No.8/2008-2009 on the ward dated 18-2-2009 assigned reason of death of Natural and have

been paying the land revenue. Thus they claim title and possession and also inform that the

Hindu Will need not be probated. They also otherwise claim to be Class I Successors to the said

property;

AND WHERAS they claim that late Narasimhiah alias Papanna and his wife Smt. Lakshmamma

had purchased vide Regd. Sale deed dated 20th April 1966 Registered before the Sub-Registrar,

Bangalore North Taluka in Book I, Vol. 2572 at pages 15-17 and assigned Reg No.5041966-967

and had been in their possession and enjoyment and the revenue regards were entered in their

names jointly



THUS, the Vendors have jointly and together claim to have been well seized and possessed or

otherwise well and sufficiently entitled to deal with the property in any manner whatsoever without any let or hindrance from anybody.

AND WHEREAS, the Vendors further state that the Property being vested with absolute and

clear marketable title, assures the Purchaser that, the “SCHEDULE PROPERTY” is free from all

kinds of encumbrances, charges, attachments, court decrees, minor claims, and any other claims

whatever nature.

AND WHEREAS, the Vendors also further assure the Purchaser that the Vendors have not

entered into any other Agreement of Sale with any other person or institution or firm or company

and that the Vendors have has every right to dispose of the said property in any manner free from

any encumbrances and that in the event any defendant patent or latent is found, the Vendors shall

jointly and severally rectify such defect at their cost as expeditiously as possible, keeping the

fact that time shall be the essence of the Contract

AND WHEREAS, the Vendors have offered to sell the “SCHEDULE PROPERTY” more fully

described in the Schedule below to the Purchasers free from all encumbrances for a total sale

consideration of Rs. 1,30,00,000/- (Rupees One Crore Thirty Lakhs only) and the Purchasers

have agreed to purchase the same for the said amount.



NOW THIS AGREEMENT OF SALE WITNESSETH AS FOLLOWS:

It is hereby agreed by and between the Vendors and the Purchaser that the Vendor has agreed to

sell and the Purchasers have agreed to purchase the “SCHEDULE PROPERTY” bearing Sy.

No.21 measuring 21 Guntas (inclusive of 2 Guntas of Kharab) of Keregulladahalli Village,

Bangalore Uttara Taluka Hobli, more fully described in the Schedule hereunder.

The purchaser has paid a sum of Rs.5,00,000/- (Rs. Five Lakhs only) as advance as follows:

VIZ. (I) Smt. Gangamma

Bearing No. 836495, dated 01-08-2011 of Karnataka Bank, Sarakki Layout Branch,

Bangalore for Rs. 1,00,000/- (Rs. One Lakh Only).

(II) Smt. Kottammama



(III) Smt. Tholasamma alias Nagamma





(IV) SMT. Ashwathamma



(V) Smt. Savitramma



and commitment money and execute this Agreement to sell free of all encumbrances, and subject

to the following terms and conditions:

1. The Purchaser shall pay the full consideration of Rs. 1,30,00,000/- (Rupees One Crore

Thirty Lakhs only) at the time of execution of the sale deed

2. The Purchasers have also paid to the following persons who claim to have interest in the

Schedule land partly by way of Cheques and partly in cash at the time of execution of this

agreement vide:

(I) Smt. Gangamma


Bangalore for Rs. 2,00,000/- (Rs. Two Lakhs Only) and Rs. 3,00,000/- by the way of cash.



(II) Smt. Kottammama

Bearing No. 865704, dated 17-09-2011 of Karnataka Bank, Sarakki Layout Branch,Bangalore for Rs. 2,00,000/- (Rs. Two Lakhs Only) and Rs. 3,00,000/- by the way of cash.

(III) Smt. Tholasamma alias Nagamma


Bangalore for Rs. 2,00,000/- (Rs. Two Lakhs Only) and Rs. 3,00,000/- by the way of cash.

(IV) Smt. Ashwathamma


Bangalore for Rs. 2,00,000/- (Rs. Two Lakhs Only) and Rs.3,00,000/- by the way of cash.

(V) Smt. Savitramma


Bangalore for Rs. 2,00,000/- (Rs. Two Lakhs Only) and Rs.3,00,000/- by the way of cash.

The vendors voluntarily accept the payment terms mentioned above. They also

acknowledge the receipt of the amount and agree to execute the absolute sale deed in

favour of the Purchasers herein or in favour of whom so ever the purchaser may name.

They also jointly severally and individually agree that the none of them shall deal or enter

into any other agreement with whom-so-ever or execute any document in any manner what

so ever to alienate the property or deal with the same in any manner what so ever and shall



hold the property in Trust and for the exclusive benefit of the purchasers of his nominees

or his assigns.

3. That the agreement is indivisible and none of the parties or have any right to split the land

or the contract and shall remain unitary transaction and is indivisible, in so far as the sale

sir concerned.

4. The stipulated period being fixed by the Vendor and the Purchasers is Six months from the

time of this agreement to execute the sale deed.

5. Time shall be the essence of the contract

6. The Vendors assure the Purchaser that the 1st Vendor is in peaceful possession and

enjoyment of the Schedule Properties and that there is no conflict of any interest between

them either jointly or severally or that of the predecessors of interest, by virtue of the two

Sale deeds they have obtained. It is also agreed that the Vendors shall also execute any

such documents that may be required to perfect the purchasers’ title, at their cost

7. The Vendors assures the Purchasers that the schedule property is free from all kinds of

encumbrances, charges, attachments, court decrees, minor claims and any other claims of

what-so-ever nature agrees to indemnify the purchasers, if there is any defect in the title.

The Vendors shall get the same clarified and secure the clarity of title to the Purchasers and

their Bankers, before the execution of the Absolute Sale deed.



8. The stamp duty and registration charges for conveyance shall be borne by the Purchasers.

9. The sale deed shall be drafted by the purchaser’s advocate with Usual and necessaryclauses and covenants of indemnity etc.

10. That the Vendor shall deliver all the original documents of the Title relating to the

“SCHEDULE PROPERTY” to the Purchasers at the time of registration of the Sale Deed

and shall produce the Originals for examination, to the purchasers Banker or Financial

Institutions. The vendor shall hold the title deed in trust and for the benefit of the

purchasers, until the completion and execution of the sale.

11. The Vendors agree to pay all the taxes, ceases due and payable in respect of the

“SCHEDULE PROPERTY” up to date of sale and also produce nil encumbrance

certificates (Form 16) and EC Form 15, Katha certificate, Katha Extract within the

stipulated period to the Purchasers.

12. The Vendors assures the Purchaser that the “SCHEDULE PROPERTY” is possessed by

the Vendors and no other person/s have any right, title or interest over the “SCHEDULE

PROPERTY”.

13. In the event of this sale failing to materlise due to breach of any of this term/s by the

purchaser, the vendors shall forfeit 5% of the advance paid by the purchaser and refund the

balance. On the other hand, if such a failure is because of breach of terms on part of the



Vendors or any defect is found, the Vendor shall refund to the purchasers the full amount

within a period of Two months.

14. Notwithstanding anything contained in this agreement, in the event of breach of any

conditions\specified in this agreement, the aggrieved party shall be at liberty to sue the

defaulting party for specific performance.

15. The Vendors agree that they shall without any demur execute the absolute sale deed in the

name of either the Purchaser herein or his assigns or any other person or persons as named

by the Purchaser. They also agree to execute the one Sale deed or any number of sale deeds

as the Purchaser or his assigns deem it necessary, without any demur

16. The vendor shall admit the identity of the property agreed to be purchased with that

comprised in the documents of title offered by the Vendor by a comparison of the

description contained in the First Schedule hereto.

17. The property is sold subject to all easements affecting the same and that there are no

acquisition proceedings or requisition from any authorities over any part of portion of the

Schedule Lands.

18. The property is believed to be correctly described as to quantity and otherwise but if any

error, misstatement or omission shall be discovered in the description of the property

contained in the Schedules hereto or in any plan annexed hereto the same shall not annual

the same but reasonable compensation shall be allowed by the Vendor or the Purchaser as



the case may require in respect thereof and the amount of such compensation or any other

dispute, including one of specific performance shall in case of dispute be settled by

arbitrator pursuant to the Arbitration and Conciliation Act, 1996. The place of Arbitrationshall be Bangalore City and the cost shall be borne by both the parties.

19. (a) In the event of default by the Sellers the Purchaser is entitled to enforce specific

performance of this contract. Similarly in the event of default by the Purchaser, the Sellers

shall be entitled to enforce specific performance of this agreement or take action as per this

Agreement.

(b) In the event of breach of the terms of this Agreement to Sell or in the event of any

differences or disputes arising between the parties in regard to this Agreement or any

matter relating thereto, the same shall be referred to a sole Arbitrator to be appointed by the

Sellers and his award shall be final and binding on the parties hereto and Arbitration shall

be as per the Provisions of the Arbitration & Conciliation Act 1996 in force. The

Arbitration shall be conducted in English Language and the place of Arbitration shall be in

Bangalore. The courts at Bangalore alone shall have jurisdiction in all matters relating to

this Agreement.

20. The Vendors shall co-operate with the purchasers or his nominee to secure conversion of

the land to non-agricultural purpose and they shall comply for the said purpose.

SCHEDULE -PROPERTY - Sy. No.21



ALL that piece and parcel of agricultural land. Survey. No.21 measuring 21 Guntas (including 2

Guntas of kharab) of Keregulladahalli Village, Bangalore Uttara Taluka Hobli, Dry Agricultural

land and bounded as under:

East by: Chikkabanavara Lake

West by: Government Land

North by: Government Land

South by: Koneraiah’s Land and Road

IN WITNESS WHEREOF, the Vendor and the Purchasers have affixed their signatures and

thumb prints to this Agreement of Sale on the day, month and year first above mentioned in the

presence of the following witnesses.

WITNESS TO DOCUMENT

1.

SMT.GANGAMMA

2.

SMT.KOTAMMA

SMT. THOLSAMMA ALIAS NAGAMMA



SMT.ASHWATHAMMA

SMT. SAVITHRAMMA

(VENDORS)

SRI. VIVEK U. SHAH

(PURCHASER)

VARDHAMAN V. GUNJAL

Advocate

agreement to sale - hesarghatta survey no.21[1]

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