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The Generic Real Estate Sales Contract serves as a fundamental legal instrument for property transactions in India. This document is essential when transferring ownership of real estate property from a seller to a purchaser, whether for residential, commercial, or industrial purposes. It incorporates mandatory provisions required by Indian legislation, including the Transfer of Property Act 1882, Registration Act 1908, and Real Estate (Regulation and Development) Act 2016. The contract ensures all aspects of the property transfer are properly documented, from initial agreement to final registration, while protecting both parties' interests. It includes provisions for payment terms, property handover, warranties, and dispute resolution, adapting to various property types and transaction complexities while maintaining compliance with state-specific regulations and stamp duty requirements.

1. Parties: Identifies and provides full details of the seller and purchaser, including names, addresses, and legal status

2. Background: Outlines the context of the sale, including brief property description and parties' intention to enter into the transaction

3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty

4. Property Details: Comprehensive description of the property being sold, including exact measurements, boundaries, and registration details

5. Purchase Price: Specifies the agreed purchase price and payment terms, including deposit and balance payment schedule

6. Completion: Details of the completion process, timing, and requirements for transfer of ownership

7. Seller's Representations and Warranties: Statements and guarantees made by the seller regarding the property's title, condition, and encumbrances

8. Purchaser's Representations and Warranties: Statements and guarantees made by the purchaser regarding their capacity and ability to complete the purchase

9. Title and Transfer: Provisions regarding the transfer of clear title and associated documentation

10. Registration and Stamp Duty: Obligations regarding property registration and payment of stamp duty

11. Possession: Terms and conditions for handling over possession of the property

12. Costs: Allocation of transaction costs between parties

13. Default and Remedies: Consequences of default by either party and available remedies

14. Governing Law and Jurisdiction: Specifies Indian law as governing law and relevant jurisdiction for disputes

15. Notices: Process for sending and receiving formal communications between parties

16. General Provisions: Standard boilerplate clauses including severability, entire agreement, and amendments