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Addendum Revising the Sale Consideration

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ADDENDUM REVISING THE SALE CONSIDERATION

1. ORIGINAL AGREEMENT

The parties refer to __________ for __________. This addendum is executed on __________.

2. REVISED PRICE

3. PAYMENT EFFECT

4. TAX/STAMP VALUE

5. CONTINUING TERMS

Section 54 of the Transfer of Property Act, 1882 treats a contract for sale as an agreement that a sale will take place on settled terms; the contract does not by itself create an interest in or charge on the property. The final transfer of ownership must occur through the legally required conveyance/registered instrument.

2A. RECONCILIATION OF MONEY

The revised consideration should reconcile mathematically with amounts already paid and the new balance. Each prior receipt remains evidence of payment but should be read against the revised total. If part of the adjustment is a repair credit, authority charge or retained amount, the agreement should state whether that item is deducted from price or merely paid separately at completion.

3A. LENDER AND ESCROW ALIGNMENT

Where the buyer has financing, the revised price may require an amended sanction, margin contribution or disbursement request. An escrow instruction may also need amendment. This addendum does not bind the lender or escrow agent unless they accept the revised mechanics through their own documentation, so the parties should resolve funding consequences before the completion date.

4A. WITHHOLDING AND STAMP VALUATION

The negotiated consideration is one factual input for tax and stamp compliance but may not be the only statutory valuation measure. The parties should use the legally applicable value/rate at the relevant date. The addendum should not promise that reducing the private price automatically reduces stamp duty, withholding or capital-gains consequences.

5A. RECEIPT TRAIL

After execution, future receipts, bank narrations, invoices and the final conveyance should use the revised consideration consistently. If a prior document states the old balance, it should not be silently altered; the addendum is the audit trail explaining the change. This helps the registration, banking and accounting records reconcile to one transaction history.

PERSONAL DATA NOTICE

This notice is given under the Digital Personal Data Protection Act, 2023. Personal data in this document is collected only to record and administer the agreed revision of sale consideration under the existing agreement to sell, communicate about that purpose, verify expressly supplied transaction information, and retain an evidentiary record.

If the proposed transaction does not proceed, the personal data will be retained for 90 days from the final cancellation/withdrawal decision and then erased, except for records needed for a live dispute or a named statutory retention duty. If the transaction proceeds, the record will be retained for the transaction period plus 12 months and then erased unless a longer statutory period applies.

Data minimisation: this document does not require full Aadhaar numbers, Aadhaar copies, passwords or bank credentials. Identity and tax documents should be collected only through the dedicated KYC/tax workflow where necessary.

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