On 1 April 2026, Harpreet Singh acknowledges receipt from Aarav Sharma of ₹5,00,000 (Rupees Five Lakh only) toward the proposed purchase of Plot 218, Eco City 1, New Chandigarh, Punjab (Apartment): Residential plot measuring approximately 300 sq yd in Eco City 1..
Proposed total sale consideration recorded for context: ₹2,25,00,000 (Rupees Two Crore Twenty Five Lakh only). Payment mode: Bank transfer. Reference: UTR HDFC2609101122.
Receipt effect: Receipt acknowledges earnest money under the separately identified transaction terms. Governing transaction-terms reference: Term Sheet dated 10 September 2026
Seller-default treatment: Refund follows the separately agreed transaction terms and reasonable-compensation law. Buyer-default treatment: Forfeiture, if claimed, is subject to the agreed terms and section 74 reasonable-compensation principles.
Section 74 of the Indian Contract Act, 1872 limits recovery under a stipulated sum/penalty clause to reasonable compensation not exceeding the amount stipulated. This receipt therefore does not state that forfeiture is automatically valid merely because the word earnest is used.
RERA-project position: Covered project transaction; statutory agreement-for-sale requirements must be checked before further advance. For a covered promoter transaction, the statutory agreement-for-sale requirements must be followed before taking an advance beyond the amount permitted by RERA.
Possession: No possession is delivered under this receipt. Refund evidence: By bank/payment reference and written refund acknowledgment.
This receipt does not transfer ownership. Section 54 of the Transfer of Property Act, 1882 states that a contract for sale does not itself create an interest in or charge on the property.
This notice is given under the Digital Personal Data Protection Act, 2023. Personal data in this document is collected only to record the earnest-money payment, its transaction context and any later refund/forfeiture issue, communicate about that purpose, verify information expressly supplied, and retain an evidentiary record.
The record will be held by Sachdeva Estates and may be shown only to the buyer, seller, authorised broker/agent, advocate, lender, valuer, project promoter, escrow/payment provider or statutory authority directly involved in the stated property transaction or verification.
If the proposed transaction does not proceed, or this document is withdrawn before it takes effect, the personal data will be retained for 90 days from that decision and then erased. If the transaction proceeds, the record will be retained for the term of the transaction plus 12 months and then erased, except for a record that a statute requires to be kept for a longer named period.