ADDENDUM REVISING THE SALE CONSIDERATION
Harpreet Singh, of House 118, Sector 35-A, Chandigarh, and Aarav Sharma, of House 211, Sector 21, Panchkula, are the parties to this instrument.
Seller contact: +91 98150 12345 / harpreet@example.com. Buyer contact: +91 98765 43210 / aarav@example.com.
- 1. ORIGINAL AGREEMENT
The parties refer to Agreement to Sell dated 01 August 2026 for House 52, Sector 8, Chandigarh. This addendum is executed on 1 April 2026.
- 2. REVISED PRICE
Original sale consideration: ₹2,50,00,000 (Rupees Two Crore Fifty Lakh only). Revised sale consideration: ₹2,45,00,000 (Rupees Two Crore Forty Five Lakh only). Amount already paid/credited: ₹25,00,000 (Rupees Twenty Five Lakh only). Revised balance: ₹2,20,00,000 (Rupees Two Crore Twenty Lakh only).
Reason: Post-diligence negotiated adjustment. Details: Buyer accepted roof repair responsibility in exchange for ₹5,00,000 price reduction..
- 3. PAYMENT EFFECT
Payment schedule effect: Only final balance changes; existing milestone dates remain.
Earnest money: Earnest money remains credited toward revised consideration.
- 4. TAX/STAMP VALUE
Parties will independently comply with stamp, withholding and tax valuation rules despite the negotiated price. A private price revision does not by itself determine the value on which a statute requires stamp duty, withholding or another tax calculation.
- 5. CONTINUING TERMS
All non-price terms remain unchanged.
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.
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.
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.
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.