Commercial Property Purchase Agreement Template for India

The Commercial Property Purchase Agreement is a crucial legal instrument used in Indian real estate transactions for acquiring commercial properties. This document is essential when businesses or investors seek to purchase commercial real estate assets such as office buildings, retail spaces, industrial facilities, or mixed-use developments. It follows Indian property law requirements, including compliance with the Transfer of Property Act, state-specific regulations, and local municipal laws. The agreement comprehensively covers property specifications, financial terms, due diligence requirements, warranties, and completion procedures, serving as both a binding contract and a detailed roadmap for the transaction. It's particularly important in protecting both parties' interests by clearly documenting all aspects of the property transfer and associated obligations.

1. Parties: Identification of the seller and purchaser with complete details including registration numbers for companies

2. Background: Context of the transaction and brief property overview

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Details: Comprehensive description of the commercial property including exact measurements and boundaries

5. Purchase Price: Agreed purchase price, payment structure, and payment terms

6. Payment Terms: Detailed breakdown of payment schedule, deposit requirements, and completion payment

7. Conditions Precedent: Conditions that must be satisfied before completion

8. Seller's Representations and Warranties: Statements and guarantees made by the seller regarding the property

9. Buyer's Representations and Warranties: Statements and guarantees made by the buyer regarding their capacity to purchase

10. Due Diligence: Buyer's right to investigate property details and documentation

11. Title and Transfer: Provisions regarding clear title and transfer process

12. Completion: Requirements and process for completing the transaction

13. Post-Completion Obligations: Obligations of both parties after completion

14. Default and Termination: Consequences of default and termination rights

15. Governing Law and Jurisdiction: Applicable law and jurisdiction for dispute resolution

16. Notices: Process and addresses for serving notices

17. General Provisions: Standard boilerplate clauses including severability, entire agreement, etc.