RESALE AGREEMENT FOR AN UNDER-CONSTRUCTION PROPERTY
- 1. PROJECT AND EXISTING RIGHTS
Transferor: __________, __________. Transferee: __________, __________. Promoter: __________, __________.
- 2. RESALE ECONOMICS
Where the law requires the Transferee to deduct tax at source from the resale price, the Transferee deducts it, deposits it within the time allowed and gives the Transferor the certificate; tax properly deducted and deposited counts as payment of that much of the price.
- 3. PROMOTER INSTALMENTS
- 4. LENDER AND PROJECT RISK
- 5. FAILURE, DOCUMENTS AND CLOSING
This agreement does not itself operate as the final conveyance of the completed unit. The promoter-facing allottee change must be completed in the manner required by the operative project documents and applicable law.
- 6. EXECUTION
PERSONAL DATA NOTICE
This notice is given under the Digital Personal Data Protection Act, 2023.
Personal data in this document is collected only to document and administer the conditional resale of an under-construction allotment, communicate about that purpose, verify expressly supplied transaction information, and retain an evidentiary record.
The record will be held by __________ and may be shown only to the allottee, incoming transferee, promoter/developer, authorised broker, lender, advocate, accountant, statutory authority or registration/tax authority directly involved in the stated transfer.
If the proposed transfer does not proceed, the personal data will be retained for 90 days from that decision and then erased. If it proceeds, the record will be retained for the transaction plus 12 months, except for a record that a statute requires to be kept for a longer named period.
Data minimisation: this document deliberately does not require a full Aadhaar number, Aadhaar-card copy, passwords or bank credentials. Identity, PAN and lender information should be collected only where the stated transfer, tax or KYC purpose actually requires it.
Record-holder: __________