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Purchase Sale Agreement Commercial (Real Estate)

Purchase Sale Agreement Commercial (Real Estate) Template for India

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Key Requirements PROMPT example:

Purchase Sale Agreement Commercial (Real Estate)

"I need a Purchase Sale Agreement Commercial (Real Estate) for acquiring a 50,000 sq ft office space in Bangalore's tech park for my IT company's expansion, with completion planned for March 2025."

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Document background
The Purchase Sale Agreement Commercial (Real Estate) is a crucial legal instrument used in Indian commercial property transactions. It serves as the primary document for transferring ownership of commercial real estate properties, whether office spaces, retail establishments, industrial facilities, or other business premises. This agreement is essential when businesses seek to acquire commercial property assets in India and must comply with various regulations including the Transfer of Property Act, RERA provisions, and state-specific property laws. The document encompasses all aspects of the transaction from property description and pricing to warranties and completion procedures, ensuring legal compliance and protecting the interests of both sellers and purchasers in the Indian real estate market.
Suggested Sections

1. Parties: Details of the seller and purchaser, including full legal names, registration numbers (if companies), and addresses

2. Background: Context of the transaction, including brief property history and purpose of the agreement

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

4. Property Description: Detailed description of the commercial property, including exact location, boundaries, and built-up area

5. Sale Consideration: Purchase price, payment structure, and payment terms

6. Payment Terms: Detailed breakdown of payment schedule, method of payment, and consequences of default

7. Seller's Representations and Warranties: Declarations by seller regarding property title, encumbrances, litigation, etc.

8. Purchaser's Representations and Warranties: Declarations by purchaser regarding authority, financial capacity, etc.

9. Conditions Precedent: Conditions that must be satisfied before completion

10. Covenants: Ongoing obligations of both parties until completion

11. Completion: Process and requirements for closing the transaction

12. Default and Remedies: Consequences of breach and available remedies

13. Indemnification: Mutual indemnification provisions

14. Notices: Process for sending formal communications between parties

15. Governing Law and Jurisdiction: Applicable law and courts having jurisdiction

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

Optional Sections

1. Environmental Matters: Required when property has specific environmental considerations or compliance requirements

2. Tenant Rights: Needed when property is currently leased to tenants

3. Foreign Investment Compliance: Required when purchaser is a foreign entity or NRI

4. Development Rights: Included when transferring or reserving development rights

5. GST Provisions: Required for properties where GST is applicable

6. Asset Transfer: Needed when deal includes transfer of business assets beyond real estate

7. Intellectual Property: Required when property includes branded elements or trade names

8. Employee Matters: Needed when property transfer includes staff or employee considerations

Suggested Schedules

1. Property Schedule: Detailed property description, including floor plans and measurements

2. Title Documents: List of all title and ownership documents

3. Encumbrances Schedule: Details of any existing mortgages, liens, or encumbrances

4. Payment Schedule: Detailed breakdown of payment terms and installments

5. Due Diligence Reports: Summary of technical, legal, and financial due diligence

6. Permits and Licenses: List of all relevant permits, licenses, and approvals

7. Outstanding Litigation: Details of any pending legal proceedings affecting the property

8. Completion Checklist: List of documents and actions required for completion

9. Property Tax Records: History of property tax payments and outstanding dues

10. Existing Contracts: Details of service contracts, maintenance agreements, etc.

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions


















































Clauses




































Relevant Industries

Real Estate

Banking & Financial Services

Retail

Manufacturing

Information Technology

Healthcare

Hospitality

Education

Logistics & Warehousing

Professional Services

Relevant Teams

Legal

Finance

Real Estate

Facilities Management

Operations

Compliance

Risk Management

Corporate Development

Property Management

Investment

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Real Estate Manager

Property Acquisition Manager

Legal Counsel

Corporate Lawyer

Facilities Manager

Investment Manager

Real Estate Director

Business Development Manager

Property Valuation Expert

Compliance Officer

Risk Manager

Finance Director

Operations Manager

Industries










Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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