1. Parties: Identification and details of the Option Grantor (landowner) and Option Holder, including full names, addresses, and legal capacity
2. Background: Context of the agreement, relationship between parties, and brief description of the property and intention to grant an option
3. Definitions: Definitions of key terms used throughout the agreement including 'Option Period', 'Option Price', 'Purchase Price', 'Property', etc.
4. Grant of Option: Clear statement of the option being granted, exclusivity provisions, and confirmation that the property won't be sold to others during the option period
5. Option Period: Duration of the option, start date, end date, and any conditions for extension
6. Option Price and Payment: Amount payable for the option right, payment terms, whether refundable or non-refundable, and payment method
7. Purchase Price: Agreed purchase price for the property when option is exercised, any applicable adjustments, and payment terms
8. Exercise of Option: Procedure for exercising the option, notice requirements, form of notice, and timeline for completion after exercise
9. Property Details: Detailed description of the property, its current condition, and any encumbrances
10. Representations and Warranties: Statements and guarantees by both parties regarding their capacity, property title, and other relevant matters
11. Covenants: Obligations of parties during the option period, including maintenance of property and restrictions on dealings
12. Termination: Circumstances under which the agreement can be terminated and consequences of termination
13. Governing Law and Jurisdiction: Specification of Indian law as governing law and jurisdiction for dispute resolution
14. Notices: Method and addresses for serving notices under the agreement
15. General Provisions: Standard clauses including entire agreement, amendments, severability, and force majeure
