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AGREEMENT FOR SALE

THIS AGREEMENT FOR SALE (“this Agreement”) is made and executed at

Mumbai this ____ day of November, in the Christian Calendar Year, Two
Thousand and Twenty Two.

BETWEEN

Mr. Vijay Kumar Varma, PAN No. ADAPV3865H, AADHAAR No. 6641 2573
8082, adult, Indian Inhabitant of Mumbai, age about 49 years, an adult, Indian
Inhabitant of Mumbai, age about years, having his address at Room No. 5,
Maharaj Bhavan, Caves Road, Jogeshwari East, Mumbai - 400060, hereinafter
referred to as “Seller” (which expression shall, unless it be repugnant to the
context and meaning thereof, be deemed to mean and include his heirs,
executors, administrators and assigns) of the FIRST PART;

AND

Mr. Gaurav Rakesh Tiwari, PAN No. AFVPT7922E, AADHAR No. 6499 0669
5646, Indian Inhabitant of Mumbai, age about 35 years, an adult, residing at
Flat No. 12, 2nd Floor, RBI Officers Quarters, Flank Road, Near
Shanmukhanand Hall, Sion, Mumbai - 400022, herein after referred to as
“Purchaser” (which expression shall, unless it be repugnant to the context and
meaning thereof, be deemed to mean and include his heirs, executors,
administrators and assigns) of the SECOND PART;
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W H E R E A S:

The Municipal Corporation of Greater Mumbai (hereinafter referred to as

“MCGM”) is the Owner of and is otherwise well and sufficiently entitled to all
that piece and parcel of land admeasuring 34,633.90 sq.yds. equivalent to
28,957.41 sq.mtrs., bearing C.T.S. Nos. 706, 706/1 to 706/10 (now bearing
C.T.S. Nos. 706/1 to 706/22) of Village Marol, Taluka Andheri in the
Registration District and Sub-District of Mumbai City and Mumbai Suburban
together with structures standing thereon and situated, lying and being at
Andheri Kurla Road, Andheri East, Mumbai - 400 059 (hereinafter referred to
as "the said Larger Property"), as more particularly described in the First
Schedule herein.

AND WHEREAS The Slum Rehabilitation Authority (hereinafter referred to as

“SRA”) has issued a Letter of Intent (LOI) dated 5 thAugust, 1996 bearing No.
SRA/Eng/253/KE/ML/LOI in favor of the New Monarch Builders and
Contractors for redevelopment of the said Larger Property occupied by
members of the said Sagbaug Snehsagar Society which has been revised on 5 th
June, 2003. As per the revised LOI dated 5 th June, 2003 an area admeasuring
34,879.44 sq.mtrs., of free sale FSI is available for utilization on the said
Larger Property.

AND WHEREAS The SRA has approved a layout for the said scheme bearing
No.SRA/ENG/69/KEM/ML/LAY dated 21stFebruary, 2008;

AND WHEREAS The said Developers have got the plans sanctioned for the
construction of the Free Sale Building as shown on the sanctioned layout plan
from the SRA for utilization of 14,074.20 sq. mtrs. free sale FSI (built-up area)
vide Intimation of Approval (I.O.A.) dated 6 th November 2012 bearing No. SRA /
ENG / 1998/ KE / ML / AP and amended IOA dated on 11 th January 2016
bearing even number as more particularly described in the Second Schedule
herein.

AND WHEREAS The SRA has issued Commencement Certificate dated 10 th

December, 2007 and the same has been re-endorsed on 28 th March,
2013,2ndDecember, 2014, 1st March, 2016 and 27th June, 2017 as per approved
amended plans. Copies of the I.O.A. dated 6 th November, 2012 and 11th
January, 2016 along with Commencement Certificate dated 10 th December,
2007, re-endorsed on 28th March, 2013, 2ndDecember, 2014, 1st March, 2016
and 27th June, 2017;
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AND WHEREAS By an Agreement for Sale dated 31st March, 2021 made and
executed by and between M/s. NEW MONARCH BUILDERS &
CONTRACTORS, a partnership firm, duly registered under the provisions of
the Indian Partnership Act, 1932 and having its principal place of business at
B-701, Raylon Arcade, Ramkrishna Mandir Road, Kondivita, Andheri (East),
Mumbai 400 059; therein referred to as “Promoter No. 1”(which expression
shall, unless it be repugnant to the context and meaning thereof, be deemed to
mean and include the partner or partners for time being and from time to time
of the said Firm, the survivor or survivors of them and the heirs, executors and
administrators of the last surviving partner) of the FIRST PART;

AND

KANAKIA SPACES REALTY PRIVATE LIMITED, (Formerly known as

“Kanakia Spaces Realtors Pvt. Ltd.” and originally incorporated with the name
“Centaur Mercantile Pvt. Ltd.) a company incorporated under the provisions of
the Companies Act, 1956 and having its Registered Office Address at 215 -
Atrium, 10th Floor, Next to Courtyard Marriott, Opposite Divine Child High
School, Andheri Kurla Road, Andheri (East), Mumbai - 400093; therein referred
to as “the Promoter No. 2 /the Confirming Party”; (which expression shall,
unless it be repugnant to the context or meaning thereof, be deemed to mean
and include its successors-in-title and assigns ) of the SECOND PART;

The Promoter No.1 and Promoter No.2 /Confirming Party are therein jointly
referred to as “the Promoters.

AND

The SELLER herein and the Allottees therein:

Purchased and acquired from the Promoter No.1 and the Promoter No.1
therein sold to the Allottees, the Premises No. 1304 on the 13th Floor in the
‘C’ Wing i.e. the Apartment in the said Free sale Building, an area
admeasuring about 486 square feet (Carpet Area) equivalent to 45.15 square
meters (Carpet Area) at Kanakia Sevens, Sagbaug, Andheri Kurla Road,
Marol, Andheri (East), Mumbai - 400059 at and for the terms, conditions and
consideration mentioned therein and more particularly described in the third
Schedule herein. The said Agreement for Sale is duly Registered with the
Sub-Registrar Andheri – 2 on 8 th December, 2016, under Serial No. BDR4-
10587-2016.

AND WHEREAS the Promoters No. 1 have received the Occupation Certificate
from the Municipal Corporation of Greater Mumbai in respect of the building
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wherein the said Flat is situated.

AND WHEREAS the SELLER are no more interested in retaining the said Flat
and as such intending to sell and transfer his right, title and interest free from
all encumbrances in the said Flat.

AND WHEREAS pursuant to the negotiations ensued between the Parties

hereto and relying upon the representations made by the SELLER to the
Purchaser the SELLER have agreed to sell to the Purchaser his right title and
interest in the said Flat No. 1304 on the 13th Floor in the ‘C’ Wing i.e. the
Apartment in the said Free sale Building, an area admeasuring about 486
square feet (Carpet Area) equivalent to 45.15 square meters (Carpet Area) in
the building known as Kanakia Sevens, Sagbaug, Andheri Kurla Road, Marol,
Andheri (East), Mumbai - 400059 to the Purchaser herein at or for a Total
consideration of Rs. 1,27,00,000/- (Rupees One Crore Twenty Seven Lakhs
only).

AND WHEREAS the parties hereto has agreed to reduce into writing the terms
and conditions on which the SELLER have agreed to transfer and the
Purchaser have agreed to purchase and acquire the right, title and interest of
the SELLER in the said Flat by executing this Agreement of the said Flat with
payment of proper Stamp Duty of the said Flat.

AND WHEREAS the vacant and peaceful possession of the said Flat will be
handed over to the Purchaser upon the release of the Full & Final
consideration of the said flat.

AND WHEREAS The Co-operative housing society is formed for the building in
the name of Kanakia Sevens Co-operative Housing Society Limited under
registration number (MUM/SRA/HSG/(TC)/13169/Year2021) registered under
Maharashtra state co-operative housing society act dated, 1960.

AND WHEREAS the SELLER have represented to the Purchaser that they have
a clear and marketable title to the said Flat free from all encumbrances and
that they have not created any rights, interest or encumbrances therein of any
nature whatsoever and are entitled to sell, and transfer the same with the
consent of the Promoters.

AND WHEREAS the Purchaser have requested the SELLER to execute these
presents to which the SELLER have agreed in the manner set out hereinafter.
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AND NOW THIS AGREEMENT WITNESSETH AND IT IS HEREBY AGREED,

CONFIRMED AND DECLARED BY AND BETWEEN THE PARTIES
DESCRIBED HEREINABOVE HERETO as follows:-

1. The SELLER do hereby sell, transfer and assign and the Purchaser
purchase and acquire all his entire right, title and interest in the said
Flat of the SELLER as also with all the common areas, amenities and
facilities on execution of this Agreement for sale of the said Flat subject
to the receipt of Full and Final consideration from the Purchaser in
respect of the said Flat.

2. The SELLER being the owners of the said Flat, on receiving the Full and
Final consideration shall handover the vacant and peaceful possession of
the said Flat to the Purchaser.

3. The Purchaser hereby declare and agreed that they shall make payment
of Full and Final consideration Rs. 1,27,00,000/- (Rupees One Crore
Twenty Seven Lakhs only) as per the terms and conditions in this
Agreement, the details of payments are given below:

SCHEDULE OF PAYMENT

a. The Purchaser have paid totally a sum of Rs. 1,00,000/- (Rupees One
Lakh Only) i.e. (1) Rs. 1,00,000/- (Rupees One Lakh Only) vide
RTGS/Bank Transfer under Transaction Reference No. 231317590205
on 09-11-2022, ICICI Bank to the SELLER before execution of this
Agreement as a part consideration for Sale of the above Said Flat. (2) The
SELLER hereby admit and acknowledge that they have received the
amount of Rs. 1,00,000/- (Rupees One Lakh Only) as a part
consideration for the sale of the said Flat and Shares, before execution of
this Agreement. The receipt for the same is appended with this
Agreement for Sale.

b. The Purchaser are liable to Tax deduction at source from the payment of
total consideration for sale of above said Flat and Shares to the SELLER
as per amendment in Income Tax Act under finance bill 2013. The
Purchaser will deduct the sum of Rs. 1,27,000/- (Rupees One Lakh
Twenty Seven Thousand only). towards TDS payable u/s 194-IA-of
Income Tax Act as per finance bill 2013 and make the payment in Form
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No.26QB to Income Tax Department. After the payment of the above said
Tax, the Certificate will be handed over to the SELLER.

It is agreed between both the parties that if any of the Cheque bounces or
c.
dishonored, then this Agreement will be treated as Cancelled/Terminated

and Null & Void in respect of the said Flat premises. And all the

expenses regarding the Cancellation Agreement will be borne by the

Purchaser only.

The Purchaser aslo hereby agrees to pay the Sellers the balance amount
d.
Rs. 74,23,838/- (Rupees Seventy Four Lakhs Twenty Three Thousand

Eight Hundred Thirty Eight Only) to the Sellers on receipt of the

peaceful and vacant possession of the said flat.

The PURCHASER hereby undertake to pay the balance consideration

e.
amount of Rs. 50,49,162/- (Rupees Fifty Lakhs Forty Nine Thousand

One Hundred Sixty Two Only) to the SELLER by obtaining loan from

Bank/Financial Institution within 45 working days from the date of

execution of this Agreement for Sale.

4. The SELLER hereby declare, represent and assure that:

a. They are the lawful, legal and absolute owner of the said Flat including
the right, title, interest and benefits attached thereto and no one else has
any right, title or interest in the said Flat;

b. The said Flat is not subject to any charge, encumbrance, liability,

litigation, adverse claim or lies-pendens and the SELLER have not
entered into any Agreement for Sale, Sale Deed, Tenancy, Mortgage, nor
they have given the said flat on Leave and License basis or otherwise;

c. The SELLER hereby undertake and indemnify that they would clear all
the legal formalities of legal possession as well as physical possession of
the Flat and give the vacant premises to the PURCHASER immediately
the License agreement, if any, stands to be discontinued on the day of
purchase of the Flat.
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d. That they have already paid the up-to-date maintenance charges and
other charges to the said society and they have no arrears of any dues
including the maintenance dues payable by them to the said society and
any other charges to be paid to any Government/Non-Government
bodies.

e. B.M.C. taxes and any other Govt. levies, cess etc. till November 2022,
shall be borne and paid by the SELLER.

f. They have not done, committed or omitted to do any acts, deeds, things
and matters whereby or by any reason whereof the SELLER are
prevented or prohibited from dealing with, disposing off or transferring
his right, title and interest in respect of the said Flat;

g. The SELLER will at the request of the Purchaser whenever required do

and execute or cause to be done and execute all such acts, deeds, things
and documents for more perfectly assuring the said Flat and all the
benefits attached thereto in favor of the Purchaser ;

h. The said Flat is not attached either before or after the Judgment or at the
instance of any Taxation Authorities or any Authorities and he has not
given any undertaking to the Taxation Authorities so as not to deal with
or dispose off his right in the said Flat and they are fully competent and
entitled to sell, transfer and convey the said Flat to the Purchaser;

i. There are no proceedings pending in any Court of Law relating to or

affecting the said Flat;

j. There are no insolvency proceedings pending or contemplated against the

SELLER;

k. The title to the said Flat is clear, marketable and free from all
encumbrances;

l. That there is no impediment or restraint or injunction against the

SELLER in respect of the said Flat whereby they have been prevented
from selling or transferring the said Flat to the Purchaser.

n. The Purchaser, on payment of full and final consideration amount, shall

become absolute owners of the said Flat and shall be entitled to hold the
said Flat free and clear and freely and clearly and absolutely exonerated
and forever released and discharged or otherwise by the SELLER and
well and sufficiently saved, defended, kept harmless and indemnified of,
from and against all former and other estates, titles, charges,
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encumbrances and claims whatsoever had, made, executed, occasioned

or suffered by the SELLER or by any other person or persons claiming or
to claim, by, though, from, under or in Trust for them.

o. Relying upon the aforesaid declarations, representations and assurances

of the SELLER and believing the same to be true and correct, the
Purchaser have agreed to purchase and acquire the said Flat from the
SELLER;

5. The SELLER has arranged N.O.C. and No Dues Certificate from the
Society for the Sale of the said Flat.

6. The SELLER shall not ask for or demand and/or claim any further
amount for the sale and of a transfer of the said Flat after receiving the
Full and Final consideration.

7. The Purchaser hereby agree to become the registered member of the

Society as and when formed by the Flat owners of the said building or
complex.

8. The SELLER hereby agree that at the time of possession of the said Flat
they shall pay the electricity and water deposit, club house registration,
development charges are not to be paid except for Transfer fees that will
be borne by the SELLER. Maintenance has been paid up to 31st
December 2022.

9. The SELLER hereby declare and assure that they have not done on or
before the date of this Agreement mortgaged, transferred assigned or in
any other manner encumbered or alienated the right, title and interest in
the said Flat. The SELLER have assured to the Purchaser that the said
Flat is free from all encumbrances liabilities and no defects in title of the
SELLER in the said Flat, have part and agreed to indemnify and
compensate to the Purchaser for all or any losses and or damages that
incurred by them, if title of the said Flat or any kind of representations
and assurances are found defective and/or false/incorrect and/or the
same is claimed by any person and or equity in whatsoever manner

10. The Society's transfer charges will be paid by the SELLER & PURCHASER
in equal ratio i.e. 50% each. However, the Stamp Duty and the
Registration Charges on this Agreement will be borne and payable by the
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PURCHASER alone. The PURCHASER indemnifies the SELLER from any

such claim laid in this respect

11. The SELLER has also agreed to sign all the further papers, documents
and forms as shall be required for affecting the transfer of the said Flat
in the name and favor of the Purchaser. The SELLER hereby have
released, relinquished, given and surrendered all his right, title and
interest in the said Flat in favor of the Purchaser forever on receipt of the
Full & Final consideration as mentioned hereinabove.

12. The SELLER on receiving the Full and Final consideration from the
Purchaser shall hand over all the original documents, papers and deeds
of the said Flat & other related original documents to the Purchaser.

13. The SELLER hereby undertake to execute any other documents, which
may be required by the Purchaser to make the title of the said Flat
complete and absolute without claiming any extra charges or
compensation. The SELLER also agreed and undertakes to co-operate
with the Purchaser and also to appear personally as and when required,
for the Registration of this Agreement with the concerned authorities of
Joint Sub-Registrar of Assurances, Mumbai.

14. The Purchaser hereby agree to observe and perform all the terms and
conditions mentioned in this Agreement and stipulations conditioned
therein on his part and pay to the Developers the requisite charges at the
time of receiving the possession of the said Flat.

15. Relying upon the declarations and representations of the SELLER and
believing the same to be true and correct, the Purchaser have agreed to
purchase the said Flat. The SELLER hereby agree and undertake to
indemnify and keep indemnified the Purchaser and his heirs, executors,
administrators, successors and assigns in the event they suffers any loss
or damage due to any demands or claims by way of tenancy, sub-
tenancy, license, lease, mortgage, inheritance, sale, exchange,
possession, lien, gift, trust, being brought forward at any time in future
by any third party or due to the representations of the SELLER being
wrong, to the extent of the loss or damage being suffered by the
Purchaser or any person or persons claiming through them.
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16. The SELLER hereby assign his right, title and interests or claims in the
said Flat to the Purchaser and the latter are entitled to hold, possess,
occupy and enjoy all the benefits there from accrued in the said Flat
without any claim liability and/or interruption from the SELLER or
anyone taking under or through them. The SELLER also hereby further
declare that they have not entered into any Agreement in respect to the
said Flat and that they have not done or performed or caused or suffered
to be done or performed any act, Deed, matter or thing whatsoever
whereby they may be prevented from entering into this Agreement and
transferring the said Flat as purported to be done hereby or whereby the
Purchaser hereto may be obstructed, prevented or hindered in enjoying
all the rights to be conferred or transferred hereby in his favor or
whereby the quiet and peaceful enjoyment or possession of the
Purchaser in respect of it being found that the SELLER are not entitled
to enter into this Agreement and transfer his rights sought or purported
to be transferred hereby and the Purchaser are not able to enjoy the
quiet and peaceful possession of the said Flat due to any such reason,
the SELLER shall within the limit of the consideration herein reserved
and received be liable to compensate indemnify and/or reimburse in full
to the Purchaser for the loss or damage which the said Purchaser may
suffer sustain in this behalf.

17. Both the parties namely the SELLER and the Purchaser hereby agree
that on the Full and Final consideration herein received being realized by
the SELLER, an application for the transfer of the said Flat in favor of
the Purchaser shall be made to the Developers . The SELLER agree to
co-operate to the Purchaser and sign all further papers, forms and
documents to transfer the said Flat in the name and in favor of the
Purchaser.

18. The Purchaser hereby agreed to pay Stamp Duty, Registration charges
and other incidental expenses for this Agreement.

19. This Agreement shall always be subject to the provisions in Maharashtra

Ownership of Flats Act, 1963 and Maharashtra Ownership Rules 1964 or
any modification, amendment or reenactment thereof the time being in
force or any other provisions of applicable thereto.

20. Sale agreement is exclusive of any parking

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21. This Agreement for Sale has been executed in Mumbai; the property is
situated in Mumbai and the payment has been made in Mumbai, Hence
it is subject to the jurisdiction of Courts of law at Mumbai.

SCHEDULE ABOVE REFERRED TO:

Flat No : 1304 on the 13th Floor in the ‘C’ Wing, an area admeasuring about
486 square feet (Carpet Area) equivalent to 45.15 square meters (Carpet Area)
of the said Free Sale Building to be known as “KANAKIA SEVENS”, lying being
at C. T. S. No. 706, 706 1 / to 22 in the Revenue Village: - Marol, Taluka
Andheri, Mumbai Suburban District (M.S.D) together with all his right, title
and beneficial interest in the said premises.

IN WITNESS WHERE OF the parties hereto have hereunto set and subscribed
his respective hands and seals the day and the year first herein above written.

SIGNED AND DELIVERED )

By the within named “SELLER” )

Mr. Vijay Kumar Varma )

In the presence of ……… )

1.

2.

SIGNED AND DELIVERED )

By the within named “PURCHASER” )

Mr. Gaurav Rakesh Tiwari )

In the presence of …………………… )

1.

2.
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RECEIPT

Received of and from the within named Mr. Gaurav Rakesh Tiwari,
“Purchaser”, a sum of Rs. 1,00,000/- (Rupees One Lakh Only) i.e. (1) Rs.
1,00,000/- (Rupees One Lakh Only) vide RTGS/Bank Transfer under
Transaction Reference No. 231317590205 on 09-11-2022, ICICI Bank to the
SELLER before execution of this Agreement as and by way of part
consideration in respect for sale of FLAT NO. 1304 on the 13th Floor, ‘E’-Wing,
in the building known as KANAKIA SEVENS, situated at Sagbaug, Marol,
Andheri (East), Mumbai - 400059.

WE SAY RECEIVED

Mr. Vijay Kumar Varma

(SELLER)