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EXHIBIT 10.12
BETWEEN
1. XXXXXXXXX & XXXXXXXXX, A Proprietory concern, having its Office at "Xxx
Xxxxx", 00/0, Xxxxxxxxxx, Near Excel Service Station, Pune 411 004,
hereinafter referred to or called as "THE PROMOTER", (which expression
unless repugnant to the context or meaning thereof shall mean and include
its Proprietor, his legal heirs, executors, administrators, assigns, etc.)
...PARTY OF THE FIRST PART
2. VERITAS SOFTWARE INDIA PVT. LTD., a Company incorporated under the
Companies Xxx 0000 having office at 1179/3 Shivajinagar, Modern College
Road, Pune - 411 005, through its Director Xx. Xxxxx Xxxxx Xxxxx, Age:
Adult years, Occupation: Service, residing at 000 Xxxx Xxxx Xxxx, Xxxxxxx,
Mumboi 400 095 , athorised to execute this agreement vide Resolution
dated________, hereinafter referred to or called as "THE PURCHASER" (which
expression unless repugnant to the context or meaning thereof shall mean
and include its Directors, their successors in title, executors and
administrators.
...PARTY OF THE SECOND PART
AND
3.
1. MR. RAJENDRA XXXXXXXXXX XXXXXX, Age about 37 years, Occupation:
Advocate, Residing at 41, Xxxxxxxx Society, Karvengar, Pune 411 052.
2. MRS. KAMAL XXXXXXX XXXXXXXXX, Age about 67 years, Occupation:
Housewife, Residing at 000, Xxxxxxx, 00/0, Xxxxxxxxx, Pune 411 052.
3. XXX. XXXXX XXXXXXXXX PATHAK, Age about 64 years, Occupation:
Housewife, Residing at 27 -B Swapnanagari, 20 Xxxxx Road, Pune 411
004
4. XXX. XXXXXX XXXXXXX XXXXX, Age about 61 years, Occupation:
Housewife, Residing at 000, Xxxxxxx Xxxx, Xxxx 411 030.
5. i) XX. XXXXXX XXXXX XXXXXX, Age about 60 years, Occupation:
Business, Residing at 000, Xxxxxxxx Xxxx, Xxxx 411 030.
ii) XX. XXXXXX XXXXXX PANDIT, Age about 36 years, Occupation:
Service, Residing at 000, Xxxxxxxx Xxxx, Xxxx 411 030.
iii) XX. XXXXXX XXXXXX PANDIT, Age about 29 years, Occupation:
Service, Residing at 000, Xxxxxxxx Xxxx, Xxxx 411 030
iv) MS. MADHAVI XXXXXXX XXXXX, Age about 26 years, Occupation:
Service, Residing at 000, Xxxxxxxx Xxxx, Xxxx 411 030.
v) XX. XXXXX XXXXXX PANDIT, Age about 25 years, Occupation:
Housewife, Residing at 384 Xxxxxxxx Xxxx, Pune 411 030
hereinafter referred to or called as "THE CONFIRMING PARTIES", (which expression
unless repugnant to the context or meaning thereof shall mean and include the
owners themselves, there respective heir, legal representatives, executors,
administrators and assigns).
...PARTY OF THE THIRD PART
through their constituted attorney MRS. BHARTI XXXXXX XXXXXXXXXX/XX. XXXXX
XXXX.
(A) The confirming parties herein are the owners, of the property which is
more particularly described in the Schedule I written hereinunder,
(hereinafter referred to as the "THE SAID LAND" and the Confirming Parties
also represented to the Promoter herein that they have a marketable title
to the said land:
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(B) AND WHEREAS the Confirming Parties herein are the sole and absolute Owners
of land more particularly described in Schedule I written hereunder
(hereinafter referred to or called as the said land).
(C) AND WHEREAS the Competant Authority, Pune, vide its order under section
8(4) of the ULC Act dated 18-9-95, declared that out of the total area of
Schedule I property of 3400 sq. mtrs. an area admeasuring 2130.38 sq.
mtrs. was non vacant and 1269.62 sp. mtrs. as vacant land.
(D) AND WHEREAS the Confirming Parties did not have knowledge expertise and
experience of construction of the buildings and they therefore appointed
the Promoter herein for the development of the said land by executing
Development Agreement dated 02.02.1995 with the Promoter and gave the
Promoter herein power and exclusive authority and right to develop and to
construct and so sell and transfer and allot the Offices parking space
etc. to the intending purchasers, subject to the terms and conditions
mentioned in the said Agreement.
(E) The Promoter herein has appointed M/s. Xxxxxx Xxxxx & Associates, Pune and
Xxxxxx Associates, Pune as their Architects and as Structural Engineers
respectively for the preparation of the design and drawings of the
buildings which are proposed to be constructed on the said land. The
Promoter herein has reserved the right to change such Architect and
Structural Engineer before the completion of the building/s.
(F) As a result of the aforsaid agreement, the Promoter herein alone is
entitled to develop and construct the buildings on the said land and has
exclusive right to sell, lease, mortgage etc. The Offices, tenements, car
parkings, terraces, reserved/ restricted areas, garden area,
garage/outhouse, space for advertisement on the terrace of buildings, etc.
in the buildings which are under construction or to be constructed on the
said land by the Promoter and to enter into agreements with the
Purchasers, Mortgagees, lessees, etc. and to receive sale price/
consideration and deposit and other charges in respect thereof.
(G) The copies of Certificate of Title issued by the Advocate of the Promoter,
7/12 extract showing the nature of the title. Of the owners of the said
land, on which the units are under construction and the copies of the
plan/s and details of the Offices and specification have been annexed
hereto and marked as Annexure "A", "B", "C", "D" and "E" respectively.
(H) The Purchaser/s herein has/have demanded from the Promoter and the
Promoter has given inspection to the Purchaser/s of all the documents
relating to the said land and the plans, design and specification prepared
by the aforesaid Architect of the Promoter and such other documents as are
specified under the Maharashtra Ownership Flats (Regulation of the
Promotion of Construction, sale Management and Transfer) Act, 1963
(hereinafter referred to as "The Said Act") and rules made thereunder.
(I) After the Purchaser's inquiry the Promoter herein has requested the
Purchaser to carry out independent search by appointing its own Advocate
and to ask any queries, he/she/ they has have regarding the market title
and nature of the title of the confirming parties of the Owners and the
Promoter. The purchaser/s has/have satisfied himself/herself/ themselves
in respect of the marketable title of the Confirming Parties and right of
the Promoter herein therefore, has agreed to purchase the Offices more
particularly described in the Annexure-D herein and delineated red colour
boundary line on the Annexure-C annexed hereto (hereinafter referred to or
called as "THE SAID OFFICES").
(J) The Promoter herein has agreed to provide amenities in the said
Accommodation which are more particularly described in the Annexure E
annexed hereto.
(K) The Purchaser/s herein is/are aware of the fact that the Promoter herein
and the confirming Parties herein have entered or will enter into similar
or separate agreement/s with sever a lot her person/s and parties in
respect of other offices, terrace/s, garage/s car parking/s under the
stilt, land adjacent to the building within the said land for garden etc.
(L) The Office Purchaser/s herein represented, assured and declared that
he/she/they are entitled to and otherwise not debarred or disentitled to
acquire a Offices under the provision of Xxxxxxxxxxx Xx-xxxxxxxxx
Xxxxxxxxx Xxx, 0000. (Maharashtra Act No. XXIV of 1960) and Urban Land
(Ceiling & Regulation) Act, 1976.
(M) The Parties herein have filed Form No. 37-1 under section UC of the
Income-Tax at 1960 in respect of this transaction and have obtained
consent of the Appropriate Authority vide Order No. AHD/AA/PN 2789/95-96
dated 27th May 1996.
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(N) AND WHEREAS under section 4 of the said Act the Promoter is required to
execute a written Agreement for Sale of the Premises/units to the
Purchaser being infact these presents and also registered the said
Agreement under the Registration Act.
(O) The parties here to are desirous to reduce into writing all the terms and
conditions of this transactions and hence these presents.
NOW THEREFORE, THIS INDENTURE WITNESSETH AND IT IS HEREBY AGREED BY AND BETWEEN
THE PARTIES HERETO AS UNDER:
1. The Promoter herein has obtained sanction of the building plans in respect
of the buildings which are under construction on the said land and the
Promoter herein shall continue to construct and complete the construction
of the said buildings on the said land in accordance with the plans,
designs and specifications approved or to be approved by the concerned
authority, which have been seen and approved by the Purchaser/s subject to
such alterations and modifications as the Promoter in its sole discretion
may think fit and necessary or may be required by the concerned local
authority/ Government to be made in them or any of them.
2. The Purchaser/s hereby gives / give his / her / their irrevocable consent
to the Promoter herein to carry out such alteration, modifications in the
sanctioned plan/s of the said building/s as the Promoter in his sole
discretion thinks fit and proper and/or such any law, rules, regulations,
order or request made by the local authority, planning authority competent
authority or Government or any local authority.
Provided that the Promoter shall have to obtain prior consent in writing
of the purchaser/s if such alterations and modifications adversely affect
the construction of the said accommodation.
The Purchaser/s herein shall have no right to withhold such permission
without any reasonable cause and shall give such permission as and when
required by the Promoter herein.
3. Relying on the Purchaser's representation and the assurance, the Promoter
here in agreed to sell and the Purchaser/s has/have agreed to purchase
Office Nos. 1&2 (ONE AND TWO) in Building No. "A", admeasuring built-up
area 959.12 SQ. MTRS approximately i.e. 10,324 SQ. FT. and carpet area
about 854 SQ. MTRS. I.E. 9,188 SQ. FT. and (including area of balcony/ies)
on First and Second floors above Parking, in Building No. "A", which
Offices are shown in RED colour boundary line on the plan annexed hereto
as Annexure "C" along with six (6) Car Parks No. 14, 15, 16, 17, 18, & 19,
in the same Building No. " A" which is more particularly delineated in Red
Colour boundary line in Annexure-C annexed hereto and hereinafter, the
aforesaid premises referred to or called as "THE SAID OFFICE", at or for a
total consideration of RS. 2,47,11,400/- (RUPEES TWO CRORES FORTY SEVEN
LACS ELEVEN THOUSAND FOUR HUNDRED ONLY) including the price for
proportionate share in the said land and includes price of the common
areas and facilities, appurtenant to the premises, excluding all expenses
for stamp duty and registration fees, which shall be paid by Offices
Purchaser separately. The nature, extent and described in the Schedule-II
written hereunder and the Promoter has agreed to provide the amenities in
the said Offices and more particularly described in the annexure "E"
written hereto.
The Purchaser/s herein shall pay the aforesaid agreed consideration to the
Promoter in the following manner:
i) Rs. 11,75,000/- paid prior to the execution of these presents vide cheque
No. 282926 dated 29/3/96 drawn on CitiBank, Mumbai.
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ii) 20% Paid at the time of execution of this Agreement by
adjustment of the deposit amount of Rs 11,75,000 (Rupees
Eleven Lacs Seventy Five Thousand only_ paid on MOU and
valance by Cheque No. ___________dated________drawn on
____________ Bank.
iii) 10% At the time of concreting of first slab of the building.
iv) 10% At the time of concreting of the second slab of the
building.
v) 15% At the time of concreting of third slab of the building.
vi) 10% At the time of completion of internal plaster work of
first & second floors.
vii) 20% At the time of completion of plumbing work of first &
second floors.
viii) 15% At the time of handing over possession of the premises.
---------
100% Total RS. 2,47,11,400/- (Rupees Two Crores, Forty Seven
Lacs, Eleven Thousand, Four Hundred Only.)
---------
The Purchaser shall on or before delivery of possession of the said premises
keep deposit of the following amount as demanded by the Promoter from time to
time.
i) Towards MSEB charges : At actuals + Rs. 50,000/-
ii) Towards Association Formation/Legal Charges : Rs. 50,000/-
The Purchaser herein shall pay the aforesaid amount on the Purchaser receiving
the written intimation from the Promoter calling upon the Purchaser to make the
payment. "Payment in time is the essence of the contract."
4. It is hereby agreed that the Promoter and the Purchaser/s shall observe
and perform and comply with all terms and conditions, stipulations,
restrictions, if any, which have been or which may be imposed by local
authority at the time of sanctioning of the plans or any time thereafter
or at the time of granting Completion Certificate. The Purchaser/s shall
not be entitled to claim possession of the said Offices until the
completion certificate in respect of the said Offices is received by the
Promoter and the Purchaser pays all dues payable under this agreement in
respect of the said Offices to the Promoter.
5. It is hereby declared that sanctioned plan/s has/have been shown to the
Purchaser /s and the floor space index (F.S.I.) available is shown in the
said plan/s. Similarly, the floor space index, if any utilised as floating
floor space index or any other manner i.e. to say transfer from this
property to another property or the floor space index of any other
property used by this property is also shown in the plan/s. In this
Agreement, the worf F.S.I or floor area ratio shall have the same meaning
as understood by the planning Authority under its Building Regulation or
Bye-Laws.
The Promoter shall have right of pre-emption or first right to utilise the
residual or available F.S.I. or which may be increased for whatever reason in
respect of the said land or any other F.S.I. granted by the appropriate
authority and allowed to use the same on the said land by constructing or
raising any floor of the building which is under construction on the said land
even after completion of existing work but in any case before execution of final
conveyance, in favour of society or apartment holders. And the Promoters is
entitled to sell the said F.S.I. to any person of his choice & the Society
Association of Apartments
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Owners shall admit such person/s as member/s of the Society/Association of
Apartments Owners. The purchaser/s herein by executing these presents has given
its irrevocable consent for the aforesaid purposes.
6. The Promoter has made full and true disclosure of the title to the said
land as the encumbrance, if any known to the Promoter. The Promoter has
also disclosed to the Office Purchaser/s, nature of its right, title and
interest or right to construct building/s. The Promoter has also given
inspection of all the original documents and given certified true copies
of all documents to the Office Purchaser to carry out the search and to
investigate the title by appointing its own Advocate. The Office
Purchaser/s having acquainted itself with all the facts and rights of the
Promoter and has entered into this Agreement. The Office Purchaser/s
hereafter shall not be entitled to challenge or question the title of the
Confirming Parties and the right/authority of the Promoter in respect of
the said land and to enter in to this agreement.
7. It is hereby agreed that the time for payments as specified above is the
essence of the contract and on failure of the Office Purchaser/s has/have
committed breach of this Agreement and the Promoter shall be entitled to
take such action as he is entitled to take I case of breach of this
Agreement.
8. Without prejudice to the right off the Promoter to take action for breach
arising out of delay inn payment of the Installments on the due dates, the
Office Purchaser shall be bound and Liable to pay interest @24% per annum
with quarterly rests, on all the amounts which become due and payable by
the Office Purchaser/s to the Promoter till the date of actual payment,
provided that tender of the principle amounts and interest or tender of
the interest and expenses thereof shall not itself be considered as waiver
of the right of the Promoter under this Agreement, nor shall it be
construed as condonation of the delay by the Promoter.
9. On the Officer Purchaser/s committing default in payment on the due dates
of any of the installments payable under this Agreement or any other
amount due and payable under this Agreement (Including its proportionate
shares of taxes levied by the concerned local authority and any other
outgoing) and on the Office Purchaser/s committing breach of any of the
terms and conditions of this Agreement, the Promoter shall in his sole
discretion entitled to terminate this Agreement.
Provided always that the power of termination under this Agreement shall
not be exercised by the Promoter unless the Promoter has given to the
purchaser 15 (fifteen) days prior notice in writing of his intention to
terminate the Agreement, and point out the breach of the breaches of the
terms and conditions on account of which it is intended to terminate this
Agreement, and the Purchaser has called and/or neglected to retify the
breach or breaches within the period of 15 (fifteen) days of such notice.
Provided further that upon termination of this agreement after deducting
10% amount of the total consideration as the xxxxxxx money which the
Promoter herein is entitled to forfeit, the Promoter shall refund to the
Purchaser the installments or price which the Purchaser/s might have till
then paid to the Promoter but without any interest, the aforesaid amount
shall be paid by the Promoter to the Purchaser/s immediately prior or
after resale of the and is entitled to do the same on refund of amount by
cheque/demand draft as aforesaid by post.
10. The specifications of the Offices, and fixtures, fitting and the amenities
to be provided by the Promoters to the said Offices or to the said
Building are described in the Annexure "E" annexed hereto. If any other
extra fittings, or amenities are provided by the Promoter, the Officer
Purchaser shall be bound to pay the extra price for such additions as per
xxxx of the Promoter. The xxxx raised by the Promoter shall be final. If
any extra fittings, fixtures and/or amenities are required by the
Purchaser/s, then the Purchaser/s shall inform in writing (the promoter
may in his discretion entertain and act even on oral request) to the
Promoter. Then the Promoter herein at his/their sole discretion may carry
out the work after the Purchaser/s depositing such extra cost/price with
the Promoter and for such additions bills raised by the Promoter shall be
final.
11. The Promoter herein shall give the possession of the said Offices, to the
Purchaser/s on execution of conveyance only. (on or before 18th September
1997). If the Promoter fails or neglects to execute aforesaid document/s
and handover the possession for the reason beyond its control by the
aforesaid date or within the period mentioned under Section 8 of the
Maharashtra Ownership Flats Act, 1963, then the Promoter shall be entitled
or liable on demand to refund to the Purchaser/s the amount already
received by the Promoter in respect of the said Offices, with interest @
24% per annum, from the date the Promoter received the said sum till the
date the amount and interest are repaid. Till the
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entire amount and interest thereon is refunded by the Promoter to the
Purchaser/s they shall subject to the prior encumbrances, if any, be a
charge on the said Offices. Provided that the Promoter shall be entitled
to reasonable extension of time for giving possession of the said Offices.
Provided that the Promoter shall be entitled to reasonable extension of
time for giving possession of the said Offices on the aforesaid date, if
the construction and completion of building in which the said Offices is
to be situated is delayed on account of:
X) non- availability of steel, cement, other building materials,
water or electric supply.
XI) War- Civil commotion or act of God
XII) any notice order, rule notification of the Government and/or
public or competent authority.
The Promoter herein has agreed to pay liquidated damages to the Purchaser
@ 2% per month of the purchase price for delay beyond one month from the
date mentioned above i.e. 18.09.1997. The Promoter has also agreed to
allow the Purchaser to enter into premises for starting internal
furnishing on or before 18.06.1997.
12. If within a period of three years from the date of obtaining completion
certificate from the Pune Municipal Corporation, Pune, the Purchaser/s
brings to the notice of the Promoter any structural defect in the Offices
or the building in which the Offices, are situated or the material used
thereon or any unauthorised change in the construction of the said
building, then wherever possible such defect or unauthorised changes shall
be rectified by the Promoter at its own cost and in case it is not
possible to rectify such defects or unauthorised changes, then the Office
Purchaser shall be entitled to receive from the Promoter reasonable
compensation for such defects or unauthorised change in the said
accommodation.
Provided further that it is agreed that the described liability period
shall be deemed to have commenced from the date on which the Promoter has
given the necessary intimation under this Agreement whichever is earlier.
Provided however, that the Office Purchaser/s shall not carry out any
alterations of whatsoever nature in the said Offices or in the fittings
therein, in particular it is hereby agreed that the Office Purchaser/s
shall not make any alterations in any of the fittings, pipes, water supply
connections or any of the erection in the bathroom as this may result in
seepage of the water. If any of such works are carried out without the
written consent of the Promoter, the defect liability automatically shall
become void.
13. The Office Purchaser/s shall use the said Offices or any part therefore or
permit the same to be used only for the purpose permitted by the local
authority. Is shall use the garage or parking space only for the purpose
of keeping or parking the Office Purchaser's own vehicle.
14. The Office Purchaser/s along with other Purchaser/s of Office/shop etc. in
the building/s shall join in forming and registering the Society or a
limited Company or an Association of Apartment Owners and also from time
to time sign and execute all the applications for registration and/or
membership and other papers and documents necessary for the formation and
the registration of such body including the bye-laws of the proposed
society or a limited company or an Association of Apartment owners and
duty fill in, sign and return to the Promoter within 15 days of the same
being forwarded by the Promoter to the Office Purchaser, so as to enable
the Promoter to register the Organisation of the Offices. In the event the
Purchaser failing or neglecting to sign the necessary papers or not giving
the co-operation or assistance required by the Promoters, the Promoters
shall not be liable for any delay in the formation of the society,
Association or the company as the case may be and if the defaulter
neglects or any of the Officers Purchaser continues to default for a
period of 4 months then the Promoters shall be relieved of their
obligation to form the Society Association/ Company which shall thereafter
be formed only by all the Office/shop Purchasers. No obligation shall be
taken by the office/Purchaser/s if any changes or modifications are made
in the draft by-laws of the memorandum and/or Articles of Association,
unless it is required by the Registrar of Co-operative Societies or the
Registrar of the Company the case may be, or any other Competent
Authority.
15. Unless prevented by circumstances beyond the control of Confirming Parties
and the Promoter, it is agreed that within four months of the registration
of the Association the building together with land below the building
shall be transferred to the Unit Holders of Association or after
submitting the said
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land or any part thereof along with building/s constructed or to be
constructed thereon under the provision of Xxxxxxxxxxx Xxxxxxxxx
/Xxxxxxxxx Xxx, 0000, by the Owner and the Promoter herein and after
payment of all dues if any by the Office Purchaser/s to the Promoter, and
after the sale of all flats in the scheme the Owners and the Promoters
herein shall execute necessary deed of apartment/conveyance in favour of
the Purchaser herein. In the event the scheme consisting of multiple
building the conveyance shall be executed within three years of the
completion of the last building.
16. It is hereby agreed that the Promoter has the exclusive right of allotment
of the different parking spaces or garage or terraces or open spaces to
one or more person/s of their choice, and such person/s may not be the
owners or holders of the Offices. The person/s to whom such terraces or
parking space/s or garage/ss or open spaces are allotted shall be admitted
as the members of the Association. The areas mentioned in Schedule- II
shall be the common areas and facilities and the Promoter shall be
entitled to declare all other areas as restricted or reserved areas and
facilities and/or alienate and dispose of other areas and facilities in
such manner as the Promoter thinks fit.
17. Commencing a week after notice in writing is given by the Promoter to the
Purchaser/s that the office are already for use and occupation the
Purchaser/s shall be liable to bear and pay the proportionate share (i.e.
in proportion to the floor area of the Offices or in lump-sum monthly
amount) of out going in respect of the said land and building/ building
namely local taxes, betterment charges or such other levies imposed by the
concerned local authority and /or Government, Water charges, Insurance,
Common lights, repairs, and salaries of clerks , xxxx collectors,
chowkidars, sweepers and all other expenses necessary and incidental to
the Management and maintenance of the said land and building/s.
The amount of consideration mentioned in this agreement includes
maintenance charges for 6 months from the date of issue of completion/
occupation certificate by PMC. However =, due to any reason if the
management of the Association of the Apartment owners is not handed over
by the Promoter/Developer to the said Society/Association, then in that
event, the Officer Purchaser shall pay Rs. 1500/-per month towards
management of the premises to the Promoter/Developer, till such time the
management is handed over to the proposed Association by the
Promoter/Developer.
18. The Purchaser/s itself with intention to bring all person into whatever
hands the said Offices may come, both hereby covenant with the Promoter as
follows for the said Offices and also for the building in which the
Offices is situated.
a) To maintain the said offices at purchasers owns cost any good
tenantable repair and condition from the date of completion
certificate and shall not do or cause to be done anything in or to
the said Offices or building in which the said Offices or the
building in which the said accommodation is situated, staircase or
any passage which may be against the rules, regulations or bye laws
of the concerned local or any other authority or change/alter or
make addition in or to the said Offices and/or building in which the
said Offices are situated and the said Offices itself or ant part
thereof.
b) Not to store in/outside the said Offices/building/surrounding area
any good which are of hazardous combustible or dangerous nature or
are too heavy as to cause damage to the construction of structure of
the building or storing of which goods of objected to by the
concerned local or other authority and shall not carry or caused to
be carried heavy packages to upper floors, which may damage or are
likely to damage the staircases, common passages or any other
structure of the building including entrances of the building and in
case any damage is caused to the building in which the said Offices
are situated or to the said Offices on account of negligence or
default of the Purchaser/s in this behalf, the Purchaser/s shall be
liable for all the consequences of the breach.
c) To carry at its own cost all internal repairs to the said Offices
and maintain the said Offices in the same condition, state and order
in which it was delivered by the Promoter : Provided that for the
defect liability period such repairs shall be carried out by the
Purchaser/s with the written consent and the supervision of the
Promoter and shall not do or cause to be done anything contrary to
the rules under regulations and bye-laws of the concerned local
authority or other public authority. And in the event of the
Purchaser/s committing any act in contravention of the
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above provisions, the Purchaser/s shall be responsible and liable
for the consequences thereof to the concerned authority and / or
other public authority.
d) Not to demolish or cause to be demolished; and not to make at any
time or cause to be made any addition or to the said Offices or any
part thereof, or in or to the building in which said Offices are
situated and not to make any alteration the elevation outside colour
scheme of the building and shall keep the portion, sewers, drains,
pipes and appurtenances thereto in good tenantable repair and
condition, and in particular, so as to support shelter and protect
other parts of the buildings and shall not chisel or in any other
manner cause damage to the columns, beams, walls, slabs or RCC,
pardis or other structural members in the said Offices without the
prior written permission of the Promoter till final conveyance.
e) Not to do cause to be done any act or thing which may render void or
voidable any insurance of the said land and the building or any part
thereof whereby any increase in premium shall become payable in
respect of the insurance.
f) Not to throw dirt, rubbish, rags, garbage, or other refuse or permit
the same to be thrown from the said Offices in the compound or any
portion of the said land and the building.
g) Pay to the Promoter within seven days on demand from the Promoter,
its share of security deposit demanded by the concerned local
authority or the Government for giving water, electricity, or any
other service connection to the building in which the said Offices
are situated.
h) To bear and pay the local taxes, water charges, insurance and such
other levies, if any, from the date of completion certificate in
respect of the said Offices and also any additional increased taxes,
insurance etc., which are imposed by the concerned local authority
and / or the Government and / or other public authority on account
of change of user of the said Offices by the Purchaser/s viz. user
for any purposes other than for permitted purpose.
i) The Purchaser/s shall not let, sub-let, transfer, assign, or part
within Purchaser/s interest or benefit factor of this agreement or
part with the possession of the said Offices until all the dues
payable by the Purchaser/s to the Promoter under this agreement are
fully paid up and only if the Purchaser/s had not been guilty of
breach of or non-observance of any of the terms and conditions of
this agreement.
j) The Purchaser/s shall observe and perform all the rules and
regulations which the Association of Office/Shop Owners may adopt at
its inception and the additions, alterations or amendments thereof
that may be made from time to time for protection and maintenance of
the said building and the Offices/Shops therein and for the
observance and performance of the Buildings Rules, Regulations and
Bye-laws for the time being of the concerned local authority and of
the Government and other public bodies. The Purchaser/s shall also
observe and perform all the stipulations and conditions laid down by
the Association of Apartment Owners regarding the occupation and use
of the Offices in the building and shall pay and contribute
regularly and punctually towards the taxes, expenses or other
outgoings in accordance with the terms and conditions of this
agreement.
k) Till a conveyance of the building in which the said Offices are
situated is executed, the Office Purchaser/s shall permit the
Promoter and their surveyors and agents with or without workmen and
others, at all reasonable times to enter into the upon the said
Offices and the said land and buildings/s or any part thereof to
view and examine the state and conditions thereof.
19. Nothing contained in this agreement is intended to be nor shall be
construed as a grant, demise or assignment in law of the said Flats or of
the said Plot and Building or any part thereof. The Purchaser/s shall have
no claim save and except in respect of the said Offices hereby agreed to
be sold
9
to it and all open spaces, parking spaces, lobbies, staircases, terraces,
recreation spaces etc., will remain the property of the Promoter until the
said land and building/s is / are transferred to the Association of
Apartment Owners as herein before mentioned.
20. Any delay tolerated or indulgence shown or omission on the part of the
Promoter in enforcing the terms of this Agreement or any forbearance in
giving of time to the Purchaser/s by the Promoter shall not be construed
as the waiver on the part of the Promoter of any breach or noncompliance
of any of the terms and conditions of this agreement by the Purchaser/s
nor shall the same in any manner prejudice the rights of the Promoter.
21. The Purchaser/s shall present this agreement as well as any other deeds,
documents etc., which are to be executed by the parties hereto in
pursuance of these presents at the proper registration office for
registration within the time limit prescribed by the Registration Act and
the Promoter after receiving written intimation with a copy of the
Registration receipt will attend such office and admit execution thereof.
22. All notices to be served on the Purchaser/s as contemplated by this
Agreement shall be deemed to have been duly served if sent to the
Purchaser/s by Under Certificate of Posting at his / her / their
address/es specified in the title of this Agreement or at the address
intimated in writing by the Purchaser/s after execution of this agreement.
23. This agreement shall always be subject to the Provisions of the
Maharashtra Ownership Flats (Regulation of the promotion of construction,
sale, management and transfer) Act, 1963 and the Xxxxxxxxxxx Xxxxxxxxx
Xxxxxxxxx Xxxxx Xxx, 0000 and the rules made thereunder.
24. The Promoter has not undertaken any responsibility nor has he agreed
anything with the Purchaser/s orally or otherwise and there is no implied
agreement or covenant on the part of the Promoter and the owner/s other
than the terms and conditions expressly provided under this agreement.
25. After the Promoter obtaining the completion certificate in respect of the
said Accommodation the Purchaser/s shall also execute such other documents
such as Possession, Receipt, Indemnity, Declaration, Undertaking,
Supplementary agreement, etc., as might be required by the Promoter.
26. The Purchaser/s herein shall bear and pay stamp duty and registration fees
and all other incidental charges etc. in respect of this agreement and all
other agreements deed of apartment of any final conveyance deed which is
to be executed by the Promoter and Confirming Parties in favour of the
Purchaser/s herein or Housing Society of Company in which the Purchaser/s
will be member.
27. The consideration of the said Offices as agreed between the Promoter and
the Purchaser herein and also as per the prevailing market rate in the
subject locality, is true and fair market rate of the said Offices. This
agreement is executed by the parties hereto under the Xxxxxxxxxxx
Xxxxxxxxx Xxxxx Xxx, 0000 and / or Xxxxxxxxxxx Xxxxxxxxx Xxxxxxxxx Xxx,
0000, and Offices Purchaser/s is/are/desire/s to pay the stamp duty for
this transaction as per the Xxxxxx Xxxxx Xxx, 0000 Schedule-I, Article 25
(d) this transaction attracts stamp duty @ 10% of the consideration amount
i.e. Rs.24,71,140/-(Rupees twenty four lacs, seventy one thousand, one
hundred and forty only) and the Purchaser/s herein has paid the said stamp
duty alongwith appropriate registration fees herewith. The parties hereto
shall be entitled to get the aforesaid stamp duty adjusted, leviable on
the conveyance, which is to be executed by the Promoter and the
Owners/Confirming parties herein favour of the Purchaser.
28. If at any time, after execution if this agreement, any additional
tax/duty/ charges/ premium/ cess/surcharge etc. by whatever name called,
is levied or recovered or becomes payable under any
statute/rule/regulation notification order/either by the Central or the
State Govt. or by the local authority or by any revenue or other
authority, in respect of the said land or the local authority, in
10
respect of the said land or the said Accommodation or this Agreement or
the transaction herein, shall exclusively be paid/borne by the
Purchaser/s.
29. In the event of the condominium being formed and registered before the
sale and disposal of all the Accommodation in the building, all the
powers, authorities and rights of the Accommodation Purchaser/s herein
shall be always subject to the Promoter's over all right to dispose of
unsold apartment and all other rights thereon. It is specifically agreed
between the parties hereto that for the unsold premises the Promoter of
Owner herein shall and will not be liable or required to contribute
towards the common expenses, or maintenance charges or any amount under
any head towards the share in the common charges in respect of unsold
premises. Nor will the Promoter be liable and required to pay any transfer
charges.
30. The Promoter herein is constructing building/s on the remaining portions
of the said land in phases. The Purchaser/s undertake/s that it shall not
raise any objection on whatsoever ground including expenses in respect of
the unsold premises. Nor will the Promoter be liable & required to pay any
transfer nuisance and annoyance or shall not obstruct the construction in
any manner.
SCHEDULE I
All that piece and parcel of land bearing Survey No. 210, Hissa No. A, Situated
at Shivajinagar, Pune 411 007, within limits of Pune Municipal Corporation and
within the Xxxxxxxxxxxx Xxx Xxxxxxxx Xxxxxx Xxxxxx, Xxxxxxxx Xxxx, admeasuring
about 34 R (3400 sq. mtrs. I.e. 36,597 sq. ft.) and bounded as follows:
On or towards East : By Survey No. 209
On or towards South : By Ashoknagar Co-op. Hsg. Soc.
On or towards North : By Khadki Cantonment
On or towards West : By Survey No. 136
SCHEDULE II
a. COMMON AREAS AND FACILITIES
1. Open space of the plot surrounding the building.
2. The Terrace on Top of the Building.
3. Staircase from ground floor to top of the building alongwith a lift.
4. Drainage and drainage disposal system, water lines.
5. Common lights, underground and overhead water tank, common pumping
arrangement, electrical meters, water meters for common connections,
pump sets, etc.
6. Plants and trees existing and planted in the open space of the said
land.
7. Open space and the structure thereon (to be constructed)
8. R.C.C. frame structure and foundation.
b. RESTRICTED AREAS:
1. Terrace adjoining individual offices.
2. Individual parking space under stilts.
IN WITNESS WHEREOF the parties hereto have here unto set and subscribed their
respective hands and seals on the day, month and the year first hereinabove
written.
I) SIGNED SEALED AND DELIVERED
By the within named Proprietor
M/s. TALWAKAR & XXXXXXXXX
through its Proprietor MR. PRAMOD
XXXXXXXXXXX XXXXXXXXX
11
II) SIGNED SEALED AND DELIVERED
By the with named Purchaser/s
Veritas Software India Pvt. Ltd.
Through its Director
---------
---------------------------------
III) SIGNED SEALED AND DELIVERED
By the Confirming Parties / Owners/s
1. XX. XXXXXXXX X. XXXXXX
2. XX. XXXXX X. XXXXXXXXX
3. XX. XXXXX X. XXXXXX
4. XX. XXXXXX X. XXXXX
Through their Constituted Attorney
XX. XXXXXXXXX X. XXXXXXXXX
5. i) MR. MARHAR V. PANDIT
For self and as Constituted Attorney
for
ii) XX. XXXXXX X. XXXXXX
iii) XX. XXXXX X. XXXXXX
xx) XX. XXXXXX X. XXXXXX
v) XX. XXXXXXX X. XXXXX
IN THE PRESENCE OF:
(1) Signature
----------------------------------
Name
----------------------------------
Address
----------------------------------
----------------------------------------------
(2) Signature
----------------------------------
Name
----------------------------------
Address
----------------------------------
----------------------------------------------
12
4. The owners after receiving possession from the Government entered
into an agreement with M/x. Xxxxxxxxx and Xxxxxxxxx on 29-12-1994.
That after execution of the said agreement necessary statement was
furnished for clearance under Income-Tax Xxx 0000 (from 37-1) and
No objection certificate was issued by the Appropriate Authority
by their order dated : 30-3-1995 no. PN-3190/94-95.
That the said property was converted to non-agricultural use by
paying necessary amount as ordered by the Collector, Pune, and the
said amount was actually paid on 15-2-1996.
That the Pune Municipal Corporation has also issued commencement
certificate after approving plans submitted to Pune Municipal
Corporation by their letter No. 5918 dated 02-01-1996.
That the Competent Authority under the Urban Land (Ceiling and
Regulations) Act, 1976, has declared that the said property is not
excess land by its order dated 21-10-1995.
I have gone through the agreement entered into by owners with M/x.
Xxxxxxxxx and Xxxxxxxxx and also perused all documents referred
above.
I am therefore, of the opinion that the owners of the said land
have good marketable title and from history given above the
question of Hindu Undivided Family or any co-parcener has any
interest in the said property does not arise as the share of
Xxxxxxxx Xxxxxx was given to Xxxxxxxx Xxxxxx by will and Xxxxxxx
Xxxxxx had no male issue and his daughter got the share and
therefore, the owners of the land have good marketable title and
the property is free from all the encumbrances and developers have
every right to transfer the said property or create charge on the
said property and to entered into agreement with prospective
Purchasers. On the basis of agreement entered into by the Owners
M/x. Xxxxxxxxx and Xxxxxxxxx and Power of Attorney executed by the
owners.
Hence, this report.
(X.X. XXXXXXXXXXXX)
ADVOCATE
13
ANNEXURE `A'
TITLE REPORT
The title-Report in respect of the property bearing Survey Xx. 000-X,
Xxxxxxxxx (Xxxxxxx Xxxxx), Xxxx, (Hereinafter called as the "SAID PROPERTY")
1. That the said property was formerly owned by Shri. Xxxxxxxx Trimbak Pandit
and Xxxxxxx Xxxxxxxx Xxxxxx alongwith his mother Smt. Xxxxxxxxx Xxxxxx.
The said land was ancestral property and Xxxxxxxx Trimbak Pandit had 1/2
share and Xxxxxxx Xxxxxx alongwith his mother Yamunavay had 1/2 shaRE
Xxxxxxxx Trimbak Pandit was a bachelor and he executed a will and after
his death Mr. Rajendra Xxxxxxxxxx Xxxxxx became the owner to whom 1/2
share in the said property was bequeathed by Xxxxxxxx Trimbak Pandit.
Xxxxxxx Xxxxxxxx Xxxxxx has no male issue and he has four daughters namely
Kamal Xxxxxxx Xxxxxxxxx, Xxxxx Xxxxxxxxx Xxxxxx, Xxxxxx Xxxxxxx Xxxxx and
Ratnashailaja Xxxxxx Xxxxxx and wife Janakibai Xxxxxxx Xxxxxx. After the
death of Xxxxxxx Xxxxxx devolved on his four daughters, as Sitaram's
mother Xxxxxxxxx Xxxxxxxx Xxxxxx who had share in the property also
expired and her share also devolved upon four daughters of Xxxxxxx Xxxxxx.
After the demise of Xxxxxxx Xxxxxx Mrs. Ratnashailaja Xxxxxx Xxxxxx also
expired leaving behind her two sons, two daughters and husband Xxxxxx
Xxxxx Pandit. This, each daughter of Xxxxxxx had 1/4 share in Sitaram's
1/2 share i.e. each daughter had 1/8 share in the said property.
2. That the said property was firstly requisitioned by the then Government of
India for defence purposes and defence department took the possession of
the same in 1941. The said requisition order specifically states that the
land is taken for military purposes during the period of war and six
months thereafter. However, the Government failed to restore the said land
to original owners and on the top of it tried to acquire the said land and
refused to hand over the possession on one ground or the other and
therefore, special civil suit no. 40-1971 was filed against the Government
and the said suit was decreed in favour of Xxxxxxxxxxx Xxxxxx and Xxxxxxx
Xxxxxx, appeal to High Court was also dismissed. Thereafter the Government
filed a petition in the Supreme Court of India against the order of the
High Court, Bombay and Government agreed to hand over the possession and
thus actual possession was handed over by Government on 28th November,
1994.
3. That from 1941 till the possession was handed over there was no
possibility of any transaction in respect of the said property. The thirty
year search also indicated that no transaction was ever made in respect of
the said property.
14
ANNEXURE `E'
SPECIFICATIONS TO BE PROVIDED IN THE PREMISES
AT SURVEY NO. 210 A, SHIVAJINAGAR, PUNE FOR
VERITAS SOFTWARE INDIA PRIVATE LIMITED
1. RCC frame structure with 6" thick solid bricks for internal and external
walls with sand faced plaster externally and xxxxx xxxxxxx internally. All
dimensions are from wall to wall before plaster.
2. Flooring : Plain Ceramic floor tiles of size 12" x 12" except entrance.
Marble flooring for entrance lobby on each floor. Skirting of plain
Ceramic tiles 4" high.
3. Sanitary & Plumbing : Concealed plumbing in G.I. `B' class pipes, with
necessary drainage and sanitary lines. European W.C. with flushing Cistern
and wash basin in toilets. All sanitary fixtures of `Parryware'. All
sanitary fittings of `DANUM' make.
4. Doors : Flush Doors with Veneer Teak on external face. For toilet doors
water proof plywood doors shall be provided.
5. Windows : Anodised/Powder coated aluminium windows with sealant.
6. Electrical installation : Concealed wiring with copper conductors. All
cables used shall be of `FINOLEX' make and electrical layout shall be
supplied by the Purchaser. All switchboards to be white and fittings of
anchor or similar make.
7. Painting : Cement Paint externally and oil bound distemper internally. If
the Purchaser wants any other type of paint internally, difference shall
be charged. Internal colour selection shall be by the Purchaser.
8. Terrace : China mosaic/IPS flooring.
9. Parking : Shall be finished neatly with tiles or concrete, and ceiling
columns shall be painted with cement paint.
10. General : Lighting in common areas, Land scaping for area around the
building, fire fighting arrangement as per specifications of PMC. Two
elevators in the building.
11. Height below beams shall be 8'-3" upto lower floor slab.
15
ANNEXURE - D
DETAILS OF ACCOMMODATION ETC.
Built-up area in 959.12 SQ. MTRS. i.e. 10,324 SQ. FT. approx.
1. Office Nos. 1 & 2 in "A" Wing in 1ST & 2ND floor.
2. Direction of Accommodation_________________________________________
3. Parking Lot Nos. 14,15,16,17,18 & 19 in the same biulding.
4. Terrace area_______________sq. mtrs._____________________sq. ft.
Total: Built-up 959.12 SQ. MTRS. sq. mtrs. i.e. 10,324 SQ. FT.
Carpet 854 SQ. MTRS. 9,188 SQ. FT.
DECLARATION
The Purchaser/s declare/s that he/she/ they has / have read the agreement got
translated the same and is fully aware therein and thereafter same have been
executed by all parties and thereafter received the stamped copy of this
Agreement.
1)_________________________________
2)_________________________________
16
BOOKING DATA
Name of the Purchaser VERITAS SOFTWARE INDIA PVT. LTD. through its
Director__________________________________
Age about_________________________________years
Occupation________________________________
Address of the Xxxxxxxxx/x 0000/0, XXXXXXXXXXXX, MODERN COLLEGE ROAD, PUNE
411 005.
PREMISES BOOKED : Building No. "A" Office Nos. 1 & 2 (ONE AND TWO) on 1ST &
2ND floors above parking. Admeasuring Built-up area of 10,324 SQ.FT. i.e.
959.12 SQ.MTRS. approx.
Parking Space Nos. 14,15,16,17,18 & 19 in Building No. "A"
Price of Accommodation RS. 2,47,11,400/-
(Rupees in Words) TWO CRORES FORTY SEVEN LACS, ELEVEN THOUSAND, FOUR HUNDRED
ONLY).
Xxxxxxx Money RS. 11,75,000/-
(Rupees in Words) ELEVEN LACS SEVENTY FIVE THOUSAND ONLY.
BY CHEQUE NO. 282926 DATED 29TH MARCH, 1996. DRAWN ON CITI BANK, MUMBAI.
