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Agreement for Sale

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Agreement for Sale AGREEMENT FOR SALE This AGREEMENT FOR SALE ("Agreement") made at __________ on this _____________day of ________________ BETWEEN JOYVILLE SHAPOORJI HOUSING PRIVATE LIMITED, a company registered under the provisions of Companies Act, 1956 and having its registered office at SP Centre, 41/44, Minoo Desai Marg, Colaba, Mumbai - 400005 (hereinafter referred to as "Joyville" or the Promoter") (CIN: U70109MH2007PTC166942) (which expression shall unless it be repugnant to the context or meaning thereof be deemed to mean and include their respective successors and permitted assigns) of the ONE PART; AND (1)Mr. /Mrs. «Primary_Applicant_PA», «CoApplicant_1_CA1», «CoApplicant_2_CA2», «CoApplicant_3_CA3» residing at «Address_1», «Address_2», «Address_3», «City» - «Pincode», «State», «Country» and (2) Messrs ………………………………………………………………………………., a company incorporated/existing under the Companies Act, 1956/2013 and having Registered Office at ……………………………………………………………………………………………………… ………………………………………; (CIN No. ______________________________) GSTIN No.______. (hereinafter referred to as "the Purchaser/s which expression, shall unless it be repugnant to the context or meaning thereof be deemed to mean and include in case of an individual or individuals his/her/their respective heirs, executors, administrators and permitted assigns and in case of a body corporate its successors, and permitted assigns and in case of a partnership firm the partners from time to time of the said firm, the heirs, executors, administrators 1 of the last surviving partner and in case of a Hindu Undivided Family, the Karta and the members for the time being and from time to time the Coparceners and the survivors or survivor of them and the heirs, executors and administrators of the last survivor of them and the heir or his permitted assign and in case of trust, trustees for the time being and from time to time of the trust and the survivors or survivor of them and the heirs, executors and administrators of the last survivor of them and the heir or his permitted assign and in case of Limited Liability Partnership (LLP) include the heirs, executors, administrators and legal representatives and the partner or Partners for time being of the LLP) of the OTHER PART. WHEREAS: 1) (a) (1) Mehul Deepak Thakur (2) Rohan Jayendra Thakur (3) Mrs. Priyanka Suchit Mahale (nee Ms. Priyanka Jayendra Thakur) (4) Siddharth Deepak Thakur (5) Mehul Deepak Thakur, Rohan Jayendra Thakur, Mrs Priyanka Suchit Mahale (nee Ms. Priyanka Jayendra Thakur), Siddharth Deepak Thakur and Deepak Thakur, all carrying on business in the name and style of MESSRS. Viva Holdings, a partnership firm hereinafter referred to as the “Owners” are the owners of all that piece and parcel of land admeasuring 93,760 square meters or thereabout of Village Bolinj, Taluka Vasai (hereinafter referred to as “Larger Land”) more particularly described in First Schedule hereunder written; (b) By a Development Agreement dated 31st December, 2011 executed by and between the Owners of the One Part and Viva Winner Venture Realtors LLP (“Existing Developer”) of the Other Part and registered in the office of the Sub-registrar of Assurances under Serial No. 2034 of 2012, the Owners have granted to the Existing Developer, the rights to develop land admeasuring 37,481 square meters or thereabout out of the Larger Land with the development potential to the extent of 494,680.86 (Four Hundred and Ninety Four Thousand Six Hundred and Eighty Point Eighty Six) square feet or thereabout of built-up area on an identified portion of land forming part of the Larger Land more particularly described in Second Schedule hereunder written,(hereinafter referred to the “Developed Land”) on the terms and condition therein contained; (c) By an Order No.VVCMC/TP/CC/BP-2281/VP-0059/W/906/2010-11 dated 24 March 2011, the Vasai Virar City Municipal Corporation (“VVCMC”) has sanctioned the layout for 81,470 square meters or thereabout out of the Larger Land. (d) The Existing Developers are in the process of developing the Developed Land forming part of the Larger Land and have sold certain 2 premises in the proposed buildings to be construed to various third parties; (e) By Agreement for Sale and Development executed on 1st July 2016 and registered on 28th October 2016 before the Sub-Registrar, Vasai bearing registration no 6841/2016 by and between (1) Mehul Deepak Thakur (2) Rohan Jayendra Thakur (3) Mrs. Priyanka Suchit Mahale (nee Ms. Priyanka Jayendra Thakur) (4) Siddharth Deepak Thakur (5) Mehul Deepak Thakur, Rohan Jayendra Thakur, Mrs Priyanka Suchit Mahale (nee Ms. Priyanka Jayendra Thakur), Siddharth Deepak Thakur and Deepak Thakur, all carrying on business in the name and style of MESSRS. Viva Holdings, a partnership firm referred to as the “Vendors” therein (herein referred to as the Owners) and Viva Winner Venture Realtors LLP a limited liability partnership registered under the provisions of Limited Liability Partnership Act, 2008 referred to as the “Existing Developer” therein and Joyville Shapoorji Housing Private Limited, referred to as the “Purchaser” therein (herein referred to as the “Promoter”). The Owners have agreed to sell to the Promoter land bearing Survey No. 297, 298[P] and390B[P]of Village Bolinj, Taluka Vasai in the registration sub-district of Palghar admeasuring 30,800 (Thirty Thousand Eight Hundred) square meters or thereabouts which is more particularly described in the Third Schedule hereunder written and shown on the plan thereof hereto annexed hereto and marked as Annexure-A1 and thereon shown surrounded by red color boundary line (hereinafter referred to as “ Specified Land”) together with the part of the unconsumed development potential of the Larger Land admeasuring 1,02,656 (One Hundred and Two Thousand Six Hundred and Fifty Six) square meters of built-up area or thereabout by utilising F.S.I. of 68,437 (Sixty Eight Thousand Four Hundred Thirty Seven) square metres or thereabout on the terms and conditions therein contained. (f) VVCMC by their order No. VVCMC/TP/RDP/VP-0059/029/2017-18 dated 26th May 2017 have revised the layout and which layout has been further amended by VVCMC by their order no VVCMC/TP/RDP/VP- 0059/097/2017-18 dated 17th October 2017 and have issued amended layout for the whole of the Large Land (“Larger Layout”) (g) The Developed Land and the Specified Land together form a part of a single layout for development sanctioned by the VVCMC (“Larger Layout”) but both portions are separated by a DP Road passing through the Larger Property which road is proposed to be constructed on the land admeasuring 5,137 (Five Thousand One Hundred and Thirty Seven) square meters or thereabouts and bearing Survey No. 298[P], 299[P], 390B[P]of Village Bolinj, Taluka Vasai, District of Palghar. 3 2) For the purpose of this Agreement the Specified Land alongwith the buildings to be constructed thereon and amenities to be provided therein is referred to as the “Layout”, which is subject to changes as per the discretion of the Promoters. The Promoter has named the project to be constructed on the Specified Land as “Joyville Virar”. 3) Promoter has appointed M/s Shapoorji Pallonji & Co. Private Limited (SPCPL) as Project Management Consultant (PMC) and Principal Marketing Agent (PMA) for assisting, facilitating and coordinating in the management, planning, supervision, marketing and sales management of Joyville Virar on the said Specified Land. 4) The Promoter intends to develop the said Layout in different phases on the Specified Land by constructing thereon about 7 (seven) towers. 5) The Promoter has registered the first phase of the Layout under the provisions of RERA with the Real Estate Regulatory Authority at Mumbai namely “Joyville Virar Phase I” for two Towers i.e. “Summit” and “Pinnacle” bearing Registration No. P51900000444., (“Project”) Authenticated copy of which is annexed hereto and marked Annexure “A2”. 6) The Promoters intend to construct/are constructing the Tower namely “Summit” and “Pinnacle” of about Stilt + 22 upper floors each on the land forming part of the Specified land and more particularly described in Fifth Schedule hereunder written and shown on the plan thereof hereto annexed hereto and marked as Annexure-A1 and thereon shown surrounded by blue color boundary line (hereinafter referred to as "Project Land”) 7) This Agreement is applicable to Tower “___________”.It is clarified that as per the existing building plans approvals, only a part of the presently available development potential in respect to the Specified Land is being utilised in the course of construction of the proposed floors of respective Tower and the Promoter shall from time to time be making applications to the VVCMC for amendments to the approved plans and for issuance of further CC such that the entire available development potential of the Specified Land is completely consumed in the course of construction of the proposed floors of respective tower on the Specified Land and accordingly, the plans for construction of the proposed floors of respective Tower on the Project Land are subject to further modifications. 4 The Promoter intends to get the existing approvals revised, renewed and altered for consumption of remaining F.S.I., TDR, and all other permissible F.S.I. to be used and utilized on the Specified Land as may be approved by VVCMC as per the Development Control Regulations in force from time to time. The Purchaser/s shall not raise any objection to the proposed construction of the additional floors irrespective of whether the same is constructed or not. 8) The Purchaser/s, being desirous of purchasing a Residential Flat in Tower “_________” of the Joyville Virar Phase I , has/have inspected photocopies of the title documents, and other relevant documents and the various Plans and connected papers made available by the Promoter at the time of booking and registration of this Agreement. A copy of the Certificate of Title in respect of the property described in the Third Schedule issued by M/s.
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