RESALE AGREEMENT FOR AN UNDER-CONSTRUCTION PROPERTY
Agreement date: 1 April 2026
- 1. PROJECT AND EXISTING RIGHTS
Transferor: Harpreet Singh, Sector 35, Chandigarh. Transferee: Aarav Sharma, Sector 21, Panchkula. Promoter: ABC Developers Pvt Ltd, Airport Road, SAS Nagar, Punjab.
Project: ABC Heights. RERA no.: PBRERA-SAS79-PR0123. Unit: Tower B, Apartment 804, Apartment/flat - 3 BHK apartment, 1,850 sq ft super area, one basement parking right.. Existing instrument: Agreement for Sale dated 10 February 2025.
Original promoter price: ₹1,20,00,000 (Rupees One Crore Twenty Lakh only). Paid to promoter: ₹60,00,000 (Rupees Sixty Lakh only). Balance to promoter: ₹60,00,000 (Rupees Sixty Lakh only).
- 2. RESALE ECONOMICS
The Transferor agrees to transfer, and the Transferee agrees to take, the Transferor's rights as allottee of the unit under the existing instrument, on the terms below. Total resale price between parties: ₹85,00,000 (Rupees Eighty Five Lakh only). Premium or adjustment: ₹25,00,000 (Rupees Twenty Five Lakh only). Booking amount paid to transferor: ₹5,00,000 (Rupees Five Lakh only). Balance to transferor: ₹20,00,000 (Rupees Twenty Lakh only).
Payment milestone: On promoter NOC.
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
Promoter balance: Transferee assumes all promoter instalments falling due after substitution.
Transfer condition: Agreement is conditional on promoter approval or recognised substitution.
- 4. LENDER AND PROJECT RISK
Lender condition: No existing lender finance.
Construction/project risk: Transferee assumes project risk and promoter rights after effective substitution, without waiving statutory rights.
- 5. FAILURE, DOCUMENTS AND CLOSING
If transfer fails without transferee default: Transferor refunds inter-party money within stated days within 7 days. Document handover: After promoter substitution. Special terms: Transfer charges shared equally; brokerage borne by each side separately.
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
______________________________
Signature
Transferor: Harpreet Singh
Place: ____________________
Date: 1 April 2026
______________________________
Signature
Transferee: Aarav Sharma
Place: ____________________
Date: 1 April 2026