Conditional Sales Contract (Real Estate) Template for India

The Conditional Sales Contract (Real Estate) is a crucial document used in Indian property transactions where the transfer of ownership is contingent upon fulfilling specific conditions, such as obtaining financing, securing regulatory approvals, or completing due diligence. This document type is commonly used in both residential and commercial real estate transactions across India, governed by multiple legislation including the Transfer of Property Act, 1882, and RERA 2016. It provides comprehensive coverage of property details, payment terms, conditions precedent, timelines, and compliance requirements, while ensuring adequate protection for both seller and purchaser interests. The contract is particularly relevant in situations where certain prerequisites need to be met before the sale can be finalized, making it a vital tool in structured real estate transactions within the Indian legal framework.

1. Parties: Identification and details of the Seller and Purchaser, including names, addresses, and registration details if applicable

2. Background: Context of the transaction, brief property description, and intention of parties to enter into a conditional sale

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

4. Property Description: Detailed description of the property including boundaries, measurements, and registration details

5. Purchase Price: Total consideration, payment structure, and payment milestones

6. Conditions Precedent: Specific conditions that must be fulfilled before the sale becomes absolute

7. Timeline and Completion: Timeframe for fulfilling conditions and completing the sale

8. Seller's Representations and Warranties: Declarations regarding property title, encumbrances, and legal compliance

9. Purchaser's Representations and Warranties: Declarations regarding financial capacity and compliance requirements

10. Rights and Obligations: Detailed responsibilities of both parties during the conditional period

11. Default and Remedies: Consequences of breach and available remedies

12. Registration and Stamp Duty: Obligations regarding document registration and payment of stamp duty

13. Notices: Method and addresses for serving notices between parties

14. Governing Law and Jurisdiction: Applicable law and courts having jurisdiction

15. Execution: Signature blocks and execution formalities