Land Buying Agreement Form Template for India

The Land Buying Agreement Form is a critical legal instrument used in Indian real estate transactions to document and formalize the purchase of land property. This document is essential when any party (individual or corporate) intends to purchase land in India, requiring compliance with multiple legislations including the Transfer of Property Act, Registration Act, and state-specific laws. The agreement template is designed to protect both buyers' and sellers' interests by clearly defining the property details, purchase terms, obligations, and statutory requirements. It becomes particularly important given India's complex land laws and the requirement for proper documentation for registration purposes. The document must be executed on appropriate stamp paper value as per state laws and requires mandatory registration at the sub-registrar's office.

1. Parties: Details of the seller(s) and buyer(s) including full legal names, addresses, and PAN numbers

2. Background: Context of the transaction, brief description of the property, and intention of the parties

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

4. Property Details: Comprehensive description of the property including boundaries, measurements, and registration details

5. Sale Consideration: Purchase price, payment schedule, and mode of payment

6. Payment Terms: Detailed payment structure, installment schedules if any, and payment conditions

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

8. Buyer's Representations and Warranties: Declarations regarding financial capacity and compliance with applicable laws

9. Title Documents and Due Diligence: Requirements for title verification and property inspection

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

11. Completion Obligations: Steps to be taken at closing, including documentation and registration

12. Possession: Terms and conditions for handling over property possession

13. Expenses and Taxes: Allocation of transaction costs, stamp duty, and registration fees

14. Indemnification: Mutual indemnification provisions for breach of representations

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

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

17. Force Majeure: Provisions for unforeseen circumstances affecting contract performance

18. Dispute Resolution: Mechanism for resolving disputes between parties