Consider this document as a roadmap for the period between the signing of the contract and the conclusion of the sale. 14. That Party No. 1 accepts that this contract of sale remains irrevocable and that Party No. 1 does not revoke or terminate it in any future. What the sales contract creates is a right for the buyer to buy the property in question under certain conditions. Likewise, the seller obtains the right to obtain the consideration of the buyer if his part of the general conditions of sale is respected. The contract of sale may, or may not, lead to an actual sale of the property in question. Some stamp duty laws, such as the Maharashtra Stamp Act, provide for an agreement to sell real estate as an appropriate deed of transfer and are therefore subject to the same stamp duty as that applicable to the deed of transfer or deed of sale of real estate. Under these provisions, which require payment of stamp duty on a contract of sale, persons wrongly perceive a contract of sale as a deed of sale in due form. 13. The fact that Party No. 2 does not have to take any further action after receipt of the entire counter-sale of paragraph ———— of Party No.
2 and after Party No. 2 has paid/deposited the entire balance, with the exception of this one, if it is transmitted by Part No. 1 as such, Party No 2 shall have the right to carry out the act of transmission either by Party No 2. 1 does not apply to the transaction, or if permitted at any time and within a limitation period. The Supreme Court has also reaffirmed the importance of the sales contract between the contracting authority and the buyer, since it recently decided that the period of allocation of a housing unit to a buyer of a house must be taken into account from the date of the project-buyer contract and not from the date of registration of the project under the Real Estate (Regulation and Development) Act. 2016. The court also ordered the rera authorities to order the payment of the contracting authority`s compensation in accordance with the contract of sale, the sanctity of which was confirmed by this order. Remember here that both parties must comply with the conditions set out in the sales contract. Any party that fails to comply with any of the conditions set out in the agreement may be brought before the courts if the other party so wishes.
All parties concerned should also ensure that this document can be invoked as legal evidence before the courts of the law and that all those who have agreed to comply with the conditions are legally obliged to do so. . . .