Real Estate Installment Sales Contract Template for India

The Real Estate Installment Sales Contract is a specialized agreement used in Indian property transactions where the buyer agrees to purchase property through a series of scheduled payments rather than a single payment. This contract type is particularly useful for buyers who prefer or require a structured payment plan and sellers willing to accept deferred payment. The document must comply with Indian property laws, including the Transfer of Property Act 1882, Registration Act 1908, and Real Estate (Regulation and Development) Act 2016. It typically includes detailed property descriptions, payment schedules, possession terms, default provisions, and conditions for final title transfer. This type of contract is commonly used in both residential and commercial property transactions throughout India, providing a secure legal framework for installment-based property purchases while protecting both parties' interests throughout the payment period.

1. Parties: Details of the seller and purchaser, including full legal names, addresses, and registration details if applicable

2. Background: Context of the transaction, including brief property description and parties' intention to enter into an installment sale arrangement

3. Definitions: Key terms used throughout the agreement, including Property, Purchase Price, Installments, Completion Date, etc.

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

5. Purchase Price and Payment Terms: Total purchase price, installment amounts, payment schedule, and payment methods

6. Down Payment: Details of initial payment amount and terms

7. Default and Remedies: Consequences of payment default and available remedies for both parties

8. Transfer of Title: Terms and conditions for the eventual transfer of property title upon completion of payments

9. Possession: Terms regarding property possession during the installment period

10. Representations and Warranties: Declarations by both parties regarding property title, authority to sell, and other material facts

11. Costs and Taxes: Responsibility for registration costs, stamp duty, property taxes, and other charges

12. Insurance and Maintenance: Requirements for property insurance and maintenance responsibilities during the installment period

13. Governing Law and Jurisdiction: Applicable laws and courts having jurisdiction over disputes

14. Notices: Method and addresses for serving legal notices between parties

15. Execution: Signature blocks and execution formalities