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The Real Estate Purchase Agreement Contract is a fundamental legal instrument used in Indian property transactions to document and formalize the transfer of real estate between parties. This document becomes necessary whenever there is a sale/purchase of any immovable property in India, whether residential, commercial, or industrial. It must comply with the Transfer of Property Act 1882, Registration Act 1908, and other relevant state-specific legislation. The agreement includes crucial details such as property description, purchase price, payment schedule, representations and warranties, and completion terms. It also addresses modern regulatory requirements like RERA compliance for new developments and incorporates state-specific stamp duty requirements. The document serves as evidence of the transaction and protects both parties' interests by clearly defining their rights and obligations throughout the property transfer process.

1. Parties: Identification and details of the seller and purchaser, including their legal names, addresses, and registration details if entities

2. Background: Context of the transaction, brief description of the property, and intention of the parties to enter into the sale transaction

3. Definitions: Key terms used throughout the agreement defined for clarity and consistency

4. Property Details: Comprehensive description of the property including address, dimensions, boundaries, and registration details

5. Purchase Price: Total consideration, payment schedule, and mode of payment

6. Payment Terms: Detailed breakdown of payment structure, including earnest money, milestone payments, and final payment

7. Completion: Process and timeline for completing the sale, including conditions precedent and subsequent

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

9. Purchaser's Representations and Warranties: Declarations by the purchaser regarding capacity to purchase, source of funds, etc.

10. Title and Transfer: Process of title transfer, registration requirements, and responsibilities

11. Possession: Terms and conditions for handing over property possession

12. Expenses and Taxes: Allocation of transaction costs, stamp duty, registration fees, and tax obligations

13. Default and Remedies: Consequences of breach and available remedies to parties

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

15. Notices: Method and addresses for serving notices between parties

16. Governing Law and Jurisdiction: Applicable law and courts having jurisdiction over disputes

17. General Provisions: Standard clauses including amendments, waiver, severability, and entire agreement