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The New Residential Purchase Agreement is a vital legal instrument used in Indian property transactions to formalize the sale and purchase of residential properties. This document is essential when transferring ownership of residential real estate, whether it's an apartment, house, villa, or plot intended for residential development. The agreement must comply with various Indian legislations, including the Transfer of Property Act, Registration Act, and RERA (where applicable), while considering state-specific requirements for stamp duty and registration. It provides comprehensive coverage of all aspects of the transaction, from property description and payment terms to warranties and possession details. This document type is particularly important in the Indian context where property documentation and clear title transfer are crucial for legal security.

1. Parties: Identification and details of the seller and purchaser, including full legal names, addresses, and PAN numbers

2. Background: Brief context of the transaction and property ownership history

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Details: Comprehensive description of the property including exact location, boundaries, and measurements

5. Purchase Price: Total consideration, payment structure, and payment methods

6. Payment Terms: Detailed breakdown of payment schedule, installments, and banking details

7. Completion: Timeline and process for completing the sale, including documentation requirements

8. Seller's Representations and Warranties: Seller's declarations regarding property title, encumbrances, and legal status

9. Purchaser's Representations and Warranties: Purchaser's declarations regarding financial capacity and compliance

10. Title and Transfer: Process and obligations for transferring clear title to the purchaser

11. Registration and Stamp Duty: Responsibilities and process for document registration and stamp duty payment

12. Possession: Terms and process for handling over property possession

13. Costs and Expenses: Allocation of transaction costs between parties

14. Default and Remedies: Consequences and remedies for breach of agreement terms

15. Force Majeure: Provisions for unforeseen circumstances affecting contract performance

16. Notices: Process and addresses for formal communications between parties

17. Governing Law and Jurisdiction: Applicable laws and courts for dispute resolution

18. Execution: Signature blocks and witness details